Exploring the Gap:the Influence of Chair-CEO Age Dissimilarity on CEO Monitoring and Incentives

被引：0
|
作者：
朱佳俊 [1 ]
高静 [1 ]
谭红平 [2 ]
机构：
[1] School of Business,Jiangnan University
[2] Desautels Faculty of Management,McG ill University
来源：
JournalofDonghuaUniversity(EnglishEdition) | 2019年 / 36卷 / 03期
关键词：
age dissimilarity; pay gap; CEO power; chair-CEO relation; monitoring;
D O I：
10.19884/j.1672-5220.2019.03.015
中图分类号：
F272.92 [人事管理]; F272.91 [企业领导];
学科分类号：
摘要：
This paper investigates how the chair-CEO age dissimilarity and CEO power affect the dispersion and change of chair-CEO pay gap from both static and dynamic perspectives. The substantial age dissimilarity between the chairman and the CEO gives rise to cognitive conflict, thereby increasing board monitoring for firms with greater monitoring needs. Using data of China’s listed firms from 2009 to 2017, we find a significant negative effect of CEO power on pay gap between the chairman and the CEO. In addition, when CEO is a member of the board or compensation committee, the power of CEO has different influences on the compensation, but the cognitive conflicts caused by chair-CEO age dissimilarity always inhibit the CEO’s power. Thus, age dissimilarity has become an important complement to the board’s regulatory mechanisms.
引用
收藏
页码：315 / 324
页数：10
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