Product recall and CEO compensation: Evidence from the automobile industry

被引：0
|
作者：
Malik, Mahfuja [1 ]
Jebari, Fatima [2 ]
机构：
[1] Sacred Heart Univ, Jack Welch Coll Business & Technol, 5151 Pk Ave, Fairfield, CT 06824 USA
[2] Wheaton Coll, 26 E Main St, Norton, MA 02766 USA
来源：
FINANCE RESEARCH LETTERS | 2023年 / 54卷
关键词：
Product recall; CEO compensation; Automobile industry; CORPORATE GOVERNANCE; PERFORMANCE; FIRM; ATTRIBUTES; QUALITY; IMPACT; DEBT;
D O I：
10.1016/j.frl.2023.103815
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the association between product recall and CEO compensation. Using a sample of U.S. automobile industry product recalls from 1999 to 2018, we find that product recalls have significant negative impacts on CEO compensation. Our findings hold after con-trolling for the common determinants of CEO compensation, such as firms' stock market and operating performance and CEO-specific characteristics. An additional analysis shows that CEOs' total and long-term compensation decreases with the number of recalls. However, we find no association between CEOs' cash compensation and product recalls.
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页数：9
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