Journal article
Large Shareholders and Independent Director Equity Compensation
Australian Accounting Review, Vol.26(2), pp.208-221
2016
Abstract
This paper investigates the use of equity compensation for independent directors, with a focus on the impact of large shareholders on a company's tendency to use equity compensation to align independent directors’ interests with those of shareholders. Based on data from 215 large Australian listed companies from 2005–2009, our analyses show that the use of equity incentive pay for independent directors is more likely when the aggregate ownership percentage of large shareholders is moderate, when there are multiple large shareholders and when the ownership stakes of large shareholders are more comparable. This paper contributes to the literature by providing new evidence of how various aspects of ownership dispersion affect compensation design for independent directors.
Details
- Title
- Large Shareholders and Independent Director Equity Compensation
- Authors
- Pattarin Adithipyangkul (Corresponding Author) - Curtin UniversityTak Yan Leung (Author) - Hong Kong Metropolitan University
- Publication details
- Australian Accounting Review, Vol.26(2), pp.208-221
- Publisher
- John Wiley & Sons, Inc.
- Date published
- 2016
- DOI
- 10.1111/auar.12097
- ISSN
- 1835-2561; 1035-6908
- Organisation Unit
- School of Business and Creative Industries
- Language
- English
- Record Identifier
- 99710571802621
- Output Type
- Journal article
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web Of Science research areas
- Business, Finance