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- Title
BOARD CONTROL, REMUNERATION COMMITTEES, AND TOP MANAGEMENT COMPENSATION.
- Authors
Conyon, Martin J.; Peck, Simon I.
- Abstract
Using panel data on large, publicly traded U.K. companies gathered between 1991 and 1994, the authors examined the role of board control and remuneration committees in determining management compensation. Board monitoring, measured in terms of the proportion of nonexecutive directors on a board and the presence of remuneration committees and CEO duality, had only a limited effect on the level of top management pay. An important conclusion was that top management pay and corporate performance are more aligned in companies with outsider-dominated boards and remuneration committees.
- Subjects
EXECUTIVE compensation; COMPENSATION management; BOARDS of directors; CORPORATE governance; ORGANIZATIONAL effectiveness; STRATEGIC planning; CHIEF executive officers; SOCIAL comparison; OUTSIDE directors of corporations; ORGANIZATIONAL research
- Publication
Academy of Management Journal, 1998, Vol 41, Issue 2, p146
- ISSN
0001-4273
- Publication type
Article
- DOI
10.2307/257099