热烈祝贺中心研究员的论文被国际学术期刊JAPP接受

时间:2011.03.15

    热烈祝贺我中心研究员王琨和肖星共同发表的论文被国际学术期刊 Journal of Accounting and Public Policy (JAPP) 接受,计划于2011年1月发表。以下为论文的题目及摘要:

Controlling Shareholders' Tunneling and Executive Compensation: Evidence from China

 

Abstract:Conflict of interests between controlling shareholders and minority shareholders could affect executive compensation contracts. In this paper, we use data on Chinese listed companies and show that controlling shareholders’ tunneling reduces the pay-performance sensitivity of executive compensation. These results suggest that while incentive payment schemes are generally adopted in Chinese listed companies, controlling shareholders who obtain private benefits from listed companies have less incentive to strengthen the relationship between executive pay and firm performance.
 

 

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