This paper studies the optimal design of long-term executive pay plans when boards of directors use accounting information for investment decision-making and executives can take costly actions to manipulate this information. The model predicts that a shift to more convex executive pay plans, such as equity plans that rely more on options and less on stock, is associated with higher levels of ma...

This paper examines whether links between inside and outside directors have an impact on CEO compensation. Using a comprehensive sample of 22,074 directors for 3,114 firms, we develop a measure of the " back door " distance between each pair of directors on a company's board. Specifically, using the entire network of directors and firms, we compute the minimum number of other company boards tha...

The Board of Directors (BoD) is a company's highest executive body and the entity responsible for strategic decision-making representation. board directors company can have an impact on formulation business investment strategies, policies, performance. In addition to examining CEO power's moderating association between independence financial performance listed non-financial companies in Sub-Sah...

Title of dissertation: SELECTION OF STAR CEOS AND ITS IMPLICATIONS ON FIRM PERFORMANCE AND CEO COMPENSATION Minwen Li, Doctor of Philosophy, 2010 Dissertation directed by: Professor Vojislav Maksimovic, Dean's Chair Professor of Finance, Department of Finance My dissertation examines a board’s decision to hire a star CEO and the implication of such decision on the new CEO compensation and firm ...

The study examines the effect of monitoring characteristics on financial reporting quality Nigerian listed consumer goods firms for period nine years from 2011-2020. population consists all 21 as at 31st December. Multiple regression technique was employed data analysis. findings reveals that variables used in this significantly affect firms. It is therefore recommended among others that, compa...

Most research on nonprofit boards has tended to focus on the board as a whole and its role vis a vis the organization’s management. Comparatively little empirical attention has been paid to the role and impact of board chairs. This paper reports on a pilot study exploring the differences between highly effective and highly ineffective chairs as perceived by experienced Executive Directors and b...

While executive directors are responsible for superior performance, their behaviour may not always be aligned with shareholder interests. Non-executive directors provide one method of monitoring and controlling these and other agency costs. An event study focusing on director departure provides some insight into the economic importance of directors to shareholders. Initial results highlight bot...

Members of boards of directors of large corporations who also serve together on an outside board, form the so called interlock graph of the board and are assumed to have a strong influence on each others’ opinion. We here study how the size and the topology of the interlock graph affect the probability that the board approves a strategy proposed by the Chief Executive Officer. We propose a meas...