Ausgewählte Aspekte Der Vorstandsvergütung: Say-on-Pay-Abstimmungen Im Rahmen Der Hauptversammlung – Ergebnisse Einer Empirischen Analyse Der HV-Saison 2010 (Selected Aspects of Executive Remuneration in Listed Firms: Say-on-Pay Votes at the Annual Meeting - Results of an Empirical Analysis from the Annual Meeting Season 2010)

2012 ◽  
Author(s):  
Marc Eulerich ◽  
Marc Steffen Rapp ◽  
Michael Wolff
Keyword(s):  
Annual Meeting ◽  
Empirical Analysis ◽  
Listed Firms ◽  
Say On Pay ◽  
Executive Remuneration

scholarly journals CEOs’ International Work Experience and Compensation

2021 ◽  
Author(s):  
Stefan Schmid ◽  
Sebastian Baldermann
Keyword(s):  
Human Capital ◽  
Empirical Analysis ◽  
Work Experience ◽  
Resource Dependence ◽  
Human Capital Theory ◽  
Work Experiences ◽  
Capital Theory ◽  
International Work ◽  
Executive Remuneration ◽  
To Receive

AbstractIn this paper, we study the effect a CEO’s international work experience has on his or her compensation. By combining human capital theory with a resource dependence and a resource-based perspective, we argue that international work experience translates into higher pay. We also suggest that international work experience comprises several dimensions that affect CEO compensation: duration, timing and breadth of stays abroad. With data from Europe’s largest stock market firms, we provide evidence that the longer the international work experiences and the more numerous they are, the higher a CEO’s compensation. While, based on our theoretical arguments, we expect to find that later international work experiences pay off for CEOs, our empirical analysis shows that earlier international work experiences are particularly valuable in terms of compensation. In addition, our data support the argument that maturity allows a CEO to take advantage of the skills, knowledge and competencies obtained via international experience—and to receive a higher payoff. With our study, we improve the understanding of how different facets of a CEO’s background shape executive remuneration.

scholarly journals Public ‘say on pay’ activism in South Africa: Targets, challengers, themes and impact

2019 ◽  
Vol 22 (1) ◽  
Author(s):  
Suzette Viviers ◽  
Nadia Mans-Kemp ◽  
Linda Kallis ◽  
Kristen Mckenzie
Keyword(s):  
South Africa ◽  
Trade Unions ◽  
Mixed Model ◽  
Wage Gap ◽  
African State ◽  
Minority Shareholders ◽  
Mixed Model Analysis ◽  
Say On Pay ◽  
Executive Remuneration ◽  
The Impact

Background: Shareholders and other stakeholders in South Africa are increasingly raising their concerns in public about seemingly excessive executive remuneration. Most of their criticism is rooted in the large and growing wage gap in the country.Aim: The authors investigated the nature of the entities whose executive remuneration policies and practices were publicly criticised, the types of challengers involved in this social movement, key issues raised and the impact that the challengers had on the targeted executives’ remuneration.Setting: Public activism involving five South African state-owned enterprises and 38 companies listed on the Johannesburg Stock Exchange.Methods: Executives and entities that were targeted in public were identified from three online financial newspapers published between 01 January 2010 and 31 December 2016. A total of 92 events were recorded involving 65 executives. Data on these executives’ emolument and three control variables were sourced from Bloomberg. Descriptive statistics and mixed-model analysis of variance tests were employed to evaluate the quantitative secondary data.Results: In line with the extant literature, most of the targets were large, well-known companies. Individual and minority shareholders represented the largest category of challengers, followed by asset managers and trade unions. The vast majority of concerns centred on the size and composition of executives’ packages and insufficient justifications provided by remuneration committees. The total pay, bonuses and other performance-based incentives decreased significantly in the year after the companies were publicly targeted.Conclusion: The findings suggest that public ‘say on pay’ activism can be an effective mechanism in addressing seemingly excessive executive emolument.

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