Factors Influencing CEO Compensation in US Telecommunication Industry

Tatiana Garanina, Yulia Ladyzhenko
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引用次数: 2

Abstract

The objective of this paper is to define the relationship between a set of factors and CEO compensation that will enable companies to imply better corporate governance practices in their management process. Developed econometric model is tested on the data of US telecom companies for the period 2004-2012. The study revealed that CEO compensation is strongly and positively related to revenue and earnings per share of the company, and unrelated to return on net assets and market value added. These results enable companies to use CEO compensation system as an effective mechanism to eliminate agency problem and, consequently, agency costs. The main directions for further research in this field are outlined.
影响美国电信业CEO薪酬的因素
本文的目的是定义一组因素和CEO薪酬之间的关系,这将使公司在其管理过程中暗示更好的公司治理实践。利用2004-2012年美国电信公司的数据对所建立的计量经济模型进行了检验。研究表明,CEO薪酬与公司营收和每股收益呈显著正相关,与净资产收益率和市场增加值无关。这些结果使企业能够将CEO薪酬制度作为消除代理问题的有效机制,从而降低代理成本。展望了该领域进一步研究的主要方向。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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