{"title":"薪酬话语权与股票表现之间的联系","authors":"Francesco Drigo","doi":"10.22495/ncpr_19","DOIUrl":null,"url":null,"abstract":"This paper examines the relation between corporate voting on say-on-pay and variation of stock market pricing. While say-on-pay votes are the expression of shareholder views on company executives’ compensation plan, vote on management remuneration can often be indicative of shareholders’ broader level of satisfaction on governance, strategy, and performance. Further, empirical data indicate that companies that fail the say-on-pay vote are more likely to underperform their market index in the subsequent twelve months. From a theoretical point of view, this paper aims to make a contribution to the topic of the centrality of the say-on-pay and its correlation with company value. From a practical point of view, our findings may be beneficial in contributing to the identification of warning flags both for issuers and investors","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The link between say-on-pay vote and share performance\",\"authors\":\"Francesco Drigo\",\"doi\":\"10.22495/ncpr_19\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper examines the relation between corporate voting on say-on-pay and variation of stock market pricing. While say-on-pay votes are the expression of shareholder views on company executives’ compensation plan, vote on management remuneration can often be indicative of shareholders’ broader level of satisfaction on governance, strategy, and performance. Further, empirical data indicate that companies that fail the say-on-pay vote are more likely to underperform their market index in the subsequent twelve months. From a theoretical point of view, this paper aims to make a contribution to the topic of the centrality of the say-on-pay and its correlation with company value. From a practical point of view, our findings may be beneficial in contributing to the identification of warning flags both for issuers and investors\",\"PeriodicalId\":352139,\"journal\":{\"name\":\"New challenges in corporate governance: Theory and practice\",\"volume\":\"1 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1900-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"New challenges in corporate governance: Theory and practice\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.22495/ncpr_19\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"New challenges in corporate governance: Theory and practice","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22495/ncpr_19","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The link between say-on-pay vote and share performance
This paper examines the relation between corporate voting on say-on-pay and variation of stock market pricing. While say-on-pay votes are the expression of shareholder views on company executives’ compensation plan, vote on management remuneration can often be indicative of shareholders’ broader level of satisfaction on governance, strategy, and performance. Further, empirical data indicate that companies that fail the say-on-pay vote are more likely to underperform their market index in the subsequent twelve months. From a theoretical point of view, this paper aims to make a contribution to the topic of the centrality of the say-on-pay and its correlation with company value. From a practical point of view, our findings may be beneficial in contributing to the identification of warning flags both for issuers and investors