How outside directors on board and Chief Executive Officer’ compensation impact on firm performance
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Title
How outside directors on board and Chief Executive Officer’ compensation impact on firm performanceAuthor (s)
Tutor/Supervisor
Pucheta Martínez, María Consuelo; Universitat Jaume I. Departament de Finances i ComptabilitatDate
2015-01-28Publisher
Universitat Jaume IAbstract
The aim of this paper is to analyze whether independent and institutional directors on
board as well as chief executive officer (CEO)’ compensation of Spanish listed firms
affect firm performance. We hypothesise ... [+]
The aim of this paper is to analyze whether independent and institutional directors on
board as well as chief executive officer (CEO)’ compensation of Spanish listed firms
affect firm performance. We hypothesise that firm value is positively affected by
independent and institutional directors on board and by CEO’s remuneration. Firm
value has been measured by means of the Tobins_Q. The results, based on a sample
of 96 firms listed on the Madrid Stock Exchange in 2013, show that independent and
institutional directors on board impact positively on firm value, while CEO’s
compensation does not have effect on it. [-]
Subject
Description
Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs acadèmic 2014-2015
Type
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