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- Title
The Association Between Gender-Diverse Compensation Committees and CEO Compensation.
- Authors
Bugeja, Martin; Matolcsy, Zoltan; Spiropoulos, Helen
- Abstract
We examine the association between gender-diverse compensation committees and CEO pay and find that CEO compensation levels are negatively associated with gender-diversity of the compensation committee, but not gender-diversity of the board. Furthermore, we find that excess CEO compensation is negatively related to subsequent return on assets for firms with an all-male compensation committee but not for firms with a gender-diverse compensation committee. These results suggest that CEOs do receive some level of excess compensation which can be mitigated by having one or more females on the compensation committee.
- Subjects
COMPENSATION committees (Executive compensation); CHIEF executive officers; EXECUTIVE compensation; RETURN on assets; BOARDS of directors; WOMEN directors of corporations; RISK-taking behavior; SOCIAL groups
- Publication
Journal of Business Ethics, 2016, Vol 139, Issue 2, p375
- ISSN
0167-4544
- Publication type
Article
- DOI
10.1007/s10551-015-2660-y