David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 77 (2):219 - 230 (2008)
Director compensation can potentially represent an ethical minefield. When faced with supporting strategic decisions that can lead to an increase in director pay, directors may consider their own interests and not solely those of the shareholders to whom they are legally bound to represent. In such cases, directors essentially become agents, rather than those installed to protect principals (shareholders) from agents. Using acquisitions as a study context, we employ a matched-pair design and find a statistically significant difference in outside director compensation between acquiring and control firms. Outside directors of acquiring firms earn more than twice as much as their counterparts in the matched-sample
|Keywords||acquisitions agency theory board of directors director compensation|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Mark S. Schwartz, Thomas W. Dunfee & Michael J. Kline (2005). Tone at the Top: An Ethics Code for Directors? [REVIEW] Journal of Business Ethics 58 (1-3):79 - 100.
Michael Schwartz (2005). What Gewirth is Worth at the Department Store. Journal of Business Ethics 58 (1-3):27 - 35.
Ella Mae Matsumura & Jae Yong Shin (2005). Corporate Governance Reform and CEO Compensation: Intended and Unintended Consequences. [REVIEW] Journal of Business Ethics 62 (2):101 - 113.
Neil A. Shankman (1999). Reframing the Debate Between Agency and Stakeholder Theories of the Firm. Journal of Business Ethics 19 (4):319 - 334.
Brian W. Kulik (2005). Agency Theory, Reasoning and Culture at Enron: In Search of a Solution. Journal of Business Ethics 59 (4):347 - 360.
Citations of this work BETA
Udi Hoitash (2011). Should Independent Board Members with Social Ties to Management Disqualify Themselves From Serving on the Board? Journal of Business Ethics 99 (3):399 - 423.
Similar books and articles
Craig A. Peterson & James Philpot (2007). Women's Roles on U.S. Fortune 500 Boards: Director Expertise and Committee Memberships. [REVIEW] Journal of Business Ethics 72 (2):177 - 196.
Catherine M. Daily (2001). Director Stock Compensation. Business Ethics Quarterly 11 (1):89-108.
Andrew J. Felo (2001). Ethics Programs, Board Involvement, and Potential Conflicts of Interest in Corporate Governance. Journal of Business Ethics 32 (3):205 - 218.
Dan R. Dalton (2003). Are Director Equity Policies Exclusionary? Business Ethics Quarterly 13 (4):415-432.
Donald Grunewald (2008). The Sarbanes-Oxley Act Will Change the Governance of Non Profit Organizations. Journal of Business Ethics 80 (3):399 - 401.
Jia Wang & H. Dudley Dewhirst (1992). Boards of Directors and Stakeholder Orientation. Journal of Business Ethics 11 (2):115 - 123.
Mariateresa Torchia, Andrea Calabrò & Morten Huse (2011). Women Directors on Corporate Boards: From Tokenism to Critical Mass. [REVIEW] Journal of Business Ethics 102 (2):299-317.
Susan P. Jauncey & David N. Moseley-Greatwich (2007). The Validity of Measuring Director and Board Performance: Continuum or Categorisation? International Journal of Business Governance and Ethics 3 (3):262-273.
E. Eugene Arthur (1987). The Ethics of Corporate Governance. Journal of Business Ethics 6 (1):59 - 70.
Added to index2009-01-28
Total downloads12 ( #286,939 of 1,796,258 )
Recent downloads (6 months)3 ( #284,614 of 1,796,258 )
How can I increase my downloads?