초도임원보수와 기업 지배구조와의 관계
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 최우석 | - |
dc.contributor.author | 이은서 | - |
dc.contributor.author | Maria A. Leach-López | - |
dc.date.accessioned | 2021-12-14T23:41:36Z | - |
dc.date.available | 2021-12-14T23:41:36Z | - |
dc.date.created | 2021-08-31 | - |
dc.date.issued | 2019 | - |
dc.identifier.issn | 1598-3919 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/131576 | - |
dc.description.abstract | Excess compensation of CEOs does not by itself impose a significant problem. However, a serious business ethical violation would occur if excess compensation is related to a large extraction of rent. In this study, we investigate how governance structures are associated with excess cash compensation, which is defined as observed cash compensation less expected cash compensation derived from the standard economic determinants. Five measures of governance structures are examined in this study as follows: (1) owner-managers; (2) block-holders; (3) foreign shareholders; (4) financial institutions; and (5) chaebols, business conglomerates in Korea controlled by family. Based on 6,823 observations in Korea obtained over a 10-year period, the results indicate that governance structures differentially affect excess cash compensation depending on the views of the role of excess cash compensation. Specifically, financial institutions are negatively related to excess cash compensation, implying that they consider excess cash compensation as an agency cost. By contrast, owner-managers, foreign shareholders, and chaebols are positively related to excess cash compensation, implying that they consider excess cash compensation as a performance motivator. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | 한국국제회계학회 | - |
dc.title | 초도임원보수와 기업 지배구조와의 관계 | - |
dc.title.alternative | Excess Compensation and Corporate Governance | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | 최우석 | - |
dc.identifier.doi | 10.21073/kiar.2019..86.008 | - |
dc.identifier.bibliographicCitation | 국제회계연구, no.86, pp.165 - 188 | - |
dc.relation.isPartOf | 국제회계연구 | - |
dc.citation.title | 국제회계연구 | - |
dc.citation.number | 86 | - |
dc.citation.startPage | 165 | - |
dc.citation.endPage | 188 | - |
dc.type.rims | ART | - |
dc.identifier.kciid | ART002501840 | - |
dc.description.journalClass | 2 | - |
dc.description.journalRegisteredClass | kci | - |
dc.subject.keywordAuthor | Excess Compensation | - |
dc.subject.keywordAuthor | Governance Structures | - |
dc.subject.keywordAuthor | Directors | - |
dc.subject.keywordAuthor | 초도임원보수 | - |
dc.subject.keywordAuthor | 기업 지배구조 | - |
dc.subject.keywordAuthor | 임원 | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
(02841) 서울특별시 성북구 안암로 14502-3290-1114
COPYRIGHT © 2021 Korea University. All Rights Reserved.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.