Menu
×
West Ashley Library
Closed
Phone: (843) 766-6635
Folly Beach Library
Closed
Phone: (843) 588-2001
Edgar Allan Poe/Sullivan's Island Library
Closed for renovations
Phone: (843) 883-3914
Wando Mount Pleasant Library
Closed
Phone: (843) 805-6888
Village Library
Closed
Phone: (843) 884-9741
St. Paul's/Hollywood Library
Closed
Phone: (843) 889-3300
Otranto Road Library
Closed
Phone: (843) 572-4094
Mt. Pleasant Library
Closed
Phone: (843) 849-6161
McClellanville Library
Closed
Phone: (843) 887-3699
Keith Summey North Charleston Library
Closed
Phone: (843) 744-2489
John's Island Library
Closed
Phone: (843) 559-1945
Hurd/St. Andrews Library
Closed
Phone: (843) 766-2546
Miss Jane's Building (Edisto Library Temporary Location)
Closed
Phone: (843) 869-2355
Dorchester Road Library
Closed
Phone: (843) 552-6466
John L. Dart Library
Closed
Phone: (843) 722-7550
Baxter-Patrick James Island
Closed
Phone: (843) 795-6679
Main Library
2 p.m. – 5 p.m.
Phone: (843) 805-6930
Bees Ferry West Ashley Library
Closed
Phone: (843) 805-6892
Mobile Library
Closed
Phone: (843) 805-6909
Today's Hours
West Ashley Library
Closed
Phone: (843) 766-6635
Folly Beach Library
Closed
Phone: (843) 588-2001
Edgar Allan Poe/Sullivan's Island Library
Closed for renovations
Phone: (843) 883-3914
Wando Mount Pleasant Library
Closed
Phone: (843) 805-6888
Village Library
Closed
Phone: (843) 884-9741
St. Paul's/Hollywood Library
Closed
Phone: (843) 889-3300
Otranto Road Library
Closed
Phone: (843) 572-4094
Mt. Pleasant Library
Closed
Phone: (843) 849-6161
McClellanville Library
Closed
Phone: (843) 887-3699
Keith Summey North Charleston Library
Closed
Phone: (843) 744-2489
John's Island Library
Closed
Phone: (843) 559-1945
Hurd/St. Andrews Library
Closed
Phone: (843) 766-2546
Miss Jane's Building (Edisto Library Temporary Location)
Closed
Phone: (843) 869-2355
Dorchester Road Library
Closed
Phone: (843) 552-6466
John L. Dart Library
Closed
Phone: (843) 722-7550
Baxter-Patrick James Island
Closed
Phone: (843) 795-6679
Main Library
2 p.m. – 5 p.m.
Phone: (843) 805-6930
Bees Ferry West Ashley Library
Closed
Phone: (843) 805-6892
Mobile Library
Closed
Phone: (843) 805-6909
Patron Login
menu
Item request has been placed!
×
Item request cannot be made.
×
![loading](/sites/all/modules/hf_eds/images/loading.gif)
Sales Growth, CEO Pay, and Corporate Governance in India.
Item request has been placed!
×
Item request cannot be made.
×
![loading](/sites/all/modules/hf_eds/images/loading.gif)
- Author(s): Jaiswall, Sudhir S.; Raman, K. K.
- Source:
Journal of Accounting, Auditing & Finance; Apr2021, Vol. 36 Issue 2, p249-277, 29p, 7 Charts- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Abstract: Although stock return-based performance metrics are common in CEO compensation contracts in the United States, similar CEO pay arrangements may not be appropriate in India given higher stock return volatility and lower liquidity. Instead, sales growth as a performance metric could be useful in incentivizing Indian CEOs to pursue earnings growth consistent with shareholder value maximization. In this study, we examine the use of sales growth as a performance metric in extant Indian CEO pay arrangements and whether the usage is consistent with efficiency. Our findings suggest that the weight placed on sales growth in determining CEO compensation in India is positive and is higher for more powerful CEOs. We also find that board vigilance is effective in moderating the weight placed on sales growth in CEO pay arrangements. Finally, we show that the weight placed on sales growth in assessing CEO pay negatively impacts future firm performance, particularly for firms that are in the later stages of the firm life cycle, are less profitable, and have weaker shareholder monitoring. Collectively, our findings are consistent with inefficiency (efficiency) in CEO pay contracting in the use of sales growth as a performance metric in later (early) stage firms, less (more) profitable firms, and weaker (stronger) shareholder monitoring firms. More broadly, our findings albeit India-specific are of potential interest to CEO pay arrangement debates in the United States and elsewhere where sales growth is an important performance metric in determining CEO compensation. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Journal of Accounting, Auditing & Finance is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Contact CCPL
Copyright 2022 Charleston County Public Library Powered By EBSCO Stacks 3.3.0 [350.3] | Staff Login
No Comments.