2016

Zheng, Z., LA. Zhou, Y. Sun , C. Chen——Review of Development Economics: Executive Compensation and Legal Investor Proction

时间:2016-10-23
This paper seeks to relate the increases in executive compensation observed in China to improvement of the legal environment. We build a simple model and demonstrate that improvement in legal investor protection reduces the manager's private benefits of control; in order to make the managerial incentives compatible, some of the forgone private benefits have to be compensated in the form of increased executive pay. Using a large dataset on Chinese listed corporations, we find strong evidence that
上一篇:张成思——《中国金融》:楼市上涨的逻辑是商品金融化 下一篇:马勇,冯心悦,田拓——《国际金融研究》:金融周期与经济周期
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