Abstract
We provide evidence on whether the adoption of the full Australian Securities Exchange recommendations for remuneration committee formation and structure are associated with a lower shareholder dissenting vote or a stronger CEO pay–performance link. We find some evidence that a minority- and majority-independent remuneration committee and a committee size of at least the recommended three members are associated with lower shareholder dissent. Companies with an independent committee have a stronger CEO pay–performance link. In addition, a majority-independent committee strengthens the link between performance and growth in CEO pay.
| Original language | English |
|---|---|
| Pages (from-to) | 445-475 |
| Number of pages | 31 |
| Journal | Accounting and Finance |
| Volume | 58 |
| Issue number | 2 |
| Early online date | 25 Jul 2016 |
| DOIs | |
| Publication status | Published - Jun 2018 |