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Directors' remuneration and performance in the Australian banking sector

conference contribution
posted on 2005-01-01, 00:00 authored by Chris DoucouliagosChris Doucouliagos, Saeed Askary
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.

History

Event

Accounting and Finance Association of Australia and New Zealand. Conference (2005 : Melbourne, Vic.)

Publisher

Accounting & Finance Association of Australia and New Zealand

Location

Melbourne, Vic.

Place of publication

Melbourne, Vic.

Start date

2005-07-03

End date

2005-07-05

Language

eng

Publication classification

E3 Extract of paper

Title of proceedings

AFAANZ 2005 : Annual Conference Program and Abstracts

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