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Medientyp:
E-Artikel
Titel:
How Much Does the Board Composition Matter? The Impact of Board Gender Diversity on CEO Compensation
Beteiligte:
Nawaz, Tasawar
Erschienen:
MDPI AG, 2022
Erschienen in:
Sustainability, 14 (2022) 18, Seite 11719
Sprache:
Englisch
DOI:
10.3390/su141811719
ISSN:
2071-1050
Entstehung:
Anmerkungen:
Beschreibung:
The notion that female directors are better disposed to protect shareholders’ interests has brought boardroom gender diversity into the limelight. Echoing these emerging trends, this paper analyzes the relationship between board gender diversity, i.e., proportion of female directors on the corporate board, and Chief Executive Officer’s (CEO) compensation. Consistent with conjecture, the analysis suggests that large and diversified corporate boards are the main determinants of CEO compensation. Furthermore, longer-tenured CEOs who also serve as board chairperson receive higher total compensation and bonuses than their counterparts do. Into the bargain are corporate performance proxied by return of assets (ROA) and firm attributes, i.e., firm size and institutional ownership, which have divergent but direct implications for CEO compensation.