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Directors' remuneration and performance in the Australian banking sector

Doucouliagos, Chris and Askary, Saeed 2005, Directors' remuneration and performance in the Australian banking sector, in AFAANZ 2005 : Annual Conference Program and Abstracts, Accounting & Finance Association of Australia and New Zealand, Melbourne, Vic..


Title Directors' remuneration and performance in the Australian banking sector
Author(s) Doucouliagos, Chris
Askary, Saeed
Conference name Accounting and Finance Association of Australia and New Zealand. Conference (2005 : Melbourne, Vic.)
Conference location Melbourne, Vic.
Conference dates 3-5 Jul. 2005
Title of proceedings AFAANZ 2005 : Annual Conference Program and Abstracts
Publication date 2005
Publisher Accounting & Finance Association of Australia and New Zealand
Place of publication Melbourne, Vic.
Summary This paper explores the links between directors' pay and performance within the Australian banking sector using panel data for the 1993-2004 period. The links between CEOs' pay and performance is investigated also. Several earnings models are estimated and different estimation techniques are used. The results indicate that there is no link between directors' pay and firm performance with a one year lag. However, there is a more distant payperformance link, with directors' pay influenced by shareholders' returns with a three year lag. The other key determinants of directors' pay in the Australian banking sector are bank specific managerial policies, lags in the administration of pay, bank size and board composition. A clear and strong positive and direct association between CEO remuneration and performance is established.
Language eng
Field of Research 150299 Banking, Finance and Investment not elsewhere classified
Socio Economic Objective 900199 Financial Services not elsewhere classified
HERDC Research category E3 Extract of paper
Persistent URL http://hdl.handle.net/10536/DRO/DU:30014389

Document type: Conference Paper
Collection: School of Accounting, Economics and Finance
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