Conyon, Martin J.; Peck, Simon I.
April 1998
Academy of Management Journal;Apr98, Vol. 41 Issue 2, p146
Academic Journal
Using panel data on large, publicly traded U.K. companies gathered between 1991 and 1994, the authors examined the role of board control and remuneration committees in determining management compensation. Board monitoring, measured in terms of the proportion of nonexecutive directors on a board and the presence of remuneration committees and CEO duality, had only a limited effect on the level of top management pay. An important conclusion was that top management pay and corporate performance are more aligned in companies with outsider-dominated boards and remuneration committees.


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