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The impact of board governance on director compensation in West African IPO firms
journal contribution
posted on 2023-06-08, 13:31 authored by Bruce HearnThis 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
History
Publication status
- Published
File Version
- Accepted version
Journal
Research in International Business and FinanceISSN
0275-5319Publisher
ElsevierExternal DOI
Volume
28Page range
82-104Department affiliated with
- Business and Management Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2013-03-14First Open Access (FOA) Date
2013-03-14First Compliant Deposit (FCD) Date
2012-11-06Usage metrics
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