Title :
The impact of the high technology crisis on CEO compensation
Author :
Cheng, Suwina ; Rayton, Bruce A.
Author_Institution :
Dept. of Accountancy, Lingnan Univ., Hong Kong, China
Abstract :
The paper empirically examines CEO compensation in 125 UK high technology firms in an attempt to identify and understand any changes in the pay system evident after the global technology market correction in 2000. We find evidence that link between executive pay and market returns weakened and that the fixed component of executive pay in these companies rose post-adjustment. These changes appear to compensate executives for the increased risk associated with variable pay rather than rectify any perceived problems with executive incentives pre-2000.
Keywords :
economic cycles; incentive schemes; personnel; CEO compensation; executive incentives; executive pay; global technology market correction; high-technology crisis; market returns; pay system; variable pay; Companies; Industries; Monitoring; Profitability; Remuneration; Share prices; CEO compensation; Corporate governance; Financial crisis; High technology; Options;
Conference_Titel :
Business Innovation and Technology Management (APBITM), 2011 IEEE International Summer Conference of Asia Pacific
Conference_Location :
Dalian
Print_ISBN :
978-1-4244-9654-9
DOI :
10.1109/APBITM.2011.5996308
