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Peer Groups Composition: Where do we stand?
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Orientador(es)
Resumo(s)
The use of peer groups has appointed as one of the reasons that justify the increase in executives' compensation levels. The Securities and Exchange Commission issued a new disclosure rule on executive compensation that became effective on November 7th, 2006. This paper studies the impact of this rule on peer groups' definition and its association with executive compensation.
Results suggest that the improvement of peer groups' definition is not statistically associated with the rule's implementation. Moreover, I find a significant increase in the levels of executive compensation. Therefore, the SEC's rule wasn't able to reduce compensation levels, as intended.
Descrição
A Work Project, presented as part as the requirements for the Award of a Masters Degree in Finance from the Nova School in Business and Economics
A Work Project, presented as part as the requirements for the Award of a Masters Degree in Finance from the Nova School in Business and Economics
A Work Project, presented as part as the requirements for the Award of a Masters Degree in Finance from the Nova School in Business and Economics
Palavras-chave
Executive Compensation Peer Groups SEC's Disclosure Rules