Same or Different? The CEO Labour Market in China's Public Listed Companies

19 Pages Posted: 25 Feb 2014

See all articles by Alex Bryson

Alex Bryson

UCL; National Institute of Economic and Social Research (NIESR)

John Forth

National Institute of Economic and Social Research (NIESR)

Minghai Zhou

University of Nottingham, Ningbo

Date Written: February 2014

Abstract

Using linked employer–employee data for all China's public listed firms over the period 2001–10, we find top executive compensation exhibits many of the traits familiar in the Western literature, although sometimes in a more muted way, and with some clear exceptions. We also find a role for managerial power in executive pay setting which may reflect the recency of the stock market and regulations underpinning corporate governance. Nevertheless, there appear to be some elements of executive compensation which transcend national economic, political and cultural differences. The implication is that the Western model is not as idiosyncratic as critics suggest.

Suggested Citation

Bryson, Alex and Forth, John and Zhou, Minghai, Same or Different? The CEO Labour Market in China's Public Listed Companies (February 2014). The Economic Journal, Vol. 124, Issue 574, pp. F90-F108, 2014. Available at SSRN: https://ssrn.com/abstract=2400790 or http://dx.doi.org/10.1111/ecoj.12107

Alex Bryson (Contact Author)

UCL ( email )

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National Institute of Economic and Social Research (NIESR) ( email )

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HOME PAGE: http://www.niesr.ac.uk/staff/staffdetail.php?StaffID=307

John Forth

National Institute of Economic and Social Research (NIESR) ( email )

2 Dean Trench Street
Smith Square
London SW1P 3HE
United Kingdom

Minghai Zhou

University of Nottingham, Ningbo ( email )

199 Taikang East Road
Ningbo, Zhejiang 315100
China

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