The impact of board governance on director compensation in West African IPO firms

Hearn, Bruce (2013) The impact of board governance on director compensation in West African IPO firms. Research in International Business and Finance, 28. pp. 82-104. ISSN 0275-5319

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Abstract

This paper undertakes a unique study of the determinants of corporate governance in the West African developing region and their impact on director compensation. A new measure of director total remuneration is constructed providing a conservative estimate of expropriation of private benefits of control. Using a hand-collected sample of 51 West African IPO firms from 2000 and 2011 we find evidence that increased presence of true independent nonexecutives that are unconnected to CEO or dominant insider groups within firm and nominally independent board level committees are highly associated with expropriation inferring that firm’s with directors engaging in this behavior are more likely to adopt measures indicative of governance best practice

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Business and Management
Subjects: H Social Sciences > HF Commerce
Depositing User: Bruce Hearn
Date Deposited: 14 Mar 2013 14:14
Last Modified: 07 Mar 2017 09:21
URI: http://sro.sussex.ac.uk/id/eprint/42137

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