Abstract

http://ssrn.com/abstract=507502
 
 

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Corporate Governance, Performance and CEO Pay


Vijay M. Jog


Carleton University - Eric Sprott School of Business

Shantanu Dutta


Carleton University - Eric Sprott School of Business

Feburary 2004


Abstract:     
Corporate governance continues to be one of the main stories in the last five years as a result of the recent corporate scandals. In this paper, we attempt to investigate the relationship (and causality) between various corporate governance mechanisms, CEO pay and corporate performance. Using data on Canada's largest corporations, we cast a significant doubt on this assumed causality between governance and performance and subsequently performance and CEO pay. Good governance seem to have little, if any relation with firm performance and CEO pay seems to be determined more by size than performance. Based on these results, we wonder if the heavy emphasis placed by various regulatory bodies on governance environment may be misplaced. This increased emphasis may reduce corporate scandals but it may do little to improve corporate performance.

Number of Pages in PDF File: 40

Keywords: Corporate governance, governance ranking, board of directors, CEO pay

JEL Classification: G32, D23

working papers series


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Date posted: March 26, 2005  

Suggested Citation

Jog, Vijay M. and Dutta, Shantanu, Corporate Governance, Performance and CEO Pay (Feburary 2004). Available at SSRN: http://ssrn.com/abstract=507502 or http://dx.doi.org/10.2139/ssrn.507502

Contact Information

Vijay M. Jog (Contact Author)
Carleton University - Eric Sprott School of Business ( email )
1125 Colonel By Drive
Ottawa, Ontario K1S SB6
Canada
613-520-2377 (Phone)
613-520-4427 (Fax)
Shantanu Dutta
Carleton University - Eric Sprott School of Business ( email )
1125 Colonel By Drive
Ottawa, Ontario K1S SB6
Canada
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