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Corporate governance and performance implications of CEO ownership: Australian evidence
Citation
Wang, Yi and Wilmshurst, TD, Corporate governance and performance implications of CEO ownership: Australian evidence, Papers Being Presented at the 2010 AFAANZ Conference, 3-5 July 2010, Darwin, pp. 1-26. (2010) [Refereed Conference Paper]
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Copyright Statement
Copyright 2010 the Authors
Official URL: http://www.afaanz.org/openconf/2010/modules/reques...
Abstract
This paper investigates the corporate governance and performance implications of chief
executive ownership in a sample of Australian listed companies. It is found that companies in
which the chief executive has an ownership stake of greater than 5 percent make less use of the
corporate governance mechanisms as recommended by the stock exchanges. However, there is
no significant performance difference between firms with different levels of executive control.
The results support the proposition that there may be an offset between the costs of managerial
entrenchment and the incentive alignment benefits of executive shareholdings.
Item Details
Item Type: | Refereed Conference Paper |
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Keywords: | Australia, chief executive, corporate governance, executive ownership |
Research Division: | Commerce, Management, Tourism and Services |
Research Group: | Accounting, auditing and accountability |
Research Field: | Accounting, auditing and accountability not elsewhere classified |
Objective Division: | Expanding Knowledge |
Objective Group: | Expanding knowledge |
Objective Field: | Expanding knowledge in commerce, management, tourism and services |
UTAS Author: | Wang, Yi (Mr Yi Wang) |
UTAS Author: | Wilmshurst, TD (Associate Professor Trevor Wilmshurst) |
ID Code: | 67735 |
Year Published: | 2010 |
Deposited By: | Accounting and Accountability |
Deposited On: | 2011-03-07 |
Last Modified: | 2014-11-03 |
Downloads: | 7 View Download Statistics |
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