在断层线的右侧：子集团和首席执行官包容性对首席执行官薪酬的影响

IF 4.5 2区管理学 Q1 BUSINESS

British Journal of Management Pub Date : 2024-07-03 DOI:10.1111/1467-8551.12851

Charlotte Antoons, Alana Vandebeek

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引用次数: 0

摘要

本研究探讨了集团断层线导致的子集团形成如何影响公司董事会的首席执行官薪酬制定过程。集团断层线是一种假设的分界线，可以根据董事的多样性特征将董事会分成若干个子集团。利用 2007-2019 年期间的美国公司样本，我们发现，如果首席执行官与薪酬委员会成员中的公司董事在人口统计学上属于同一个基于断层线的子群体，那么强断层线会导致首席执行官薪酬的提高。此外，我们还发现，董事和首席执行官的共同任期会加强这种关系。我们的结果经得起内生性问题和一系列敏感性测试的检验。我们的研究结果为有关首席执行官薪酬、公司治理和断层的文献做出了重要贡献，因为我们不仅考虑了董事会中存在的断层，还考虑了基于身份的分组构成如何影响首席执行官薪酬。

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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On the Right Side of the Faultline: Effects of Subgroups and CEO Inclusion on CEO Compensation

This study examines how subgroup formation resulting from group faultlines can affect corporate boards’ CEO compensation‐setting process. Group faultlines are hypothetical dividing lines that can split the board into subgroups based on directors’ diversity characteristics. Using a sample of US firms for the period 2007–2019, we find that if the CEO demographically belongs to the same faultline‐based subgroup as corporate directors who are members of the compensation committee, strong faultlines lead to higher CEO compensation. Furthermore, we show that joint tenure of directors and the CEO strengthens this relationship. Our results are robust to endogeneity concerns and a battery of sensitivity tests. Our findings make important contributions to the literature on CEO compensation, corporate governance and faultlines, as we consider not only the existence of faultlines in the board context but also how the composition of identity‐based subgroups affects CEO compensation.

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来源期刊

British Journal of Management Multiple-

CiteScore

10.00

自引率

12.50%

发文量

期刊介绍： The British Journal of Management provides a valuable outlet for research and scholarship on management-orientated themes and topics. It publishes articles of a multi-disciplinary and interdisciplinary nature as well as empirical research from within traditional disciplines and managerial functions. With contributions from around the globe, the journal includes articles across the full range of business and management disciplines. A subscription to British Journal of Management includes International Journal of Management Reviews, also published on behalf of the British Academy of Management.