Compensation practices in the lodging industry: Does top management pay affect corporate performance?

Name: Compensation practices in the lodging industry: Does top management pay affect corporate performance?
Author: Upneja, A., Özdemir, Özgür

İsim	Compensation practices in the lodging industry: Does top management pay affect corporate performance?
Yazar	Upneja, A., Özdemir, Özgür
Basım Tarihi:	2014-04
Basım Yeri	- Elsevier
Konu	Firm performance, Compensation, CEO, CFO, Agency theory
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	1873-4693
Kayıt Numarası	521f4276-6b31-41da-aaa2-58c03a253f6c
Lokasyon	Hotel Management
Tarih	2014-04
Notlar	Due to copyright restrictions, the access to the full text of this article is only available via subscription.
Örnek Metin	The current study examines the relationship between executive compensation and firm performance in the U.S. lodging industry. It is not clear-cut whether performance leads to compensation or compensation drives firm performance. Our contention is that cash and lagged equity-based compensation drive the firm performance. Our findings suggest that chief executive officer's (CEO) contemporaneous cash-compensation and one-year lagged equity-compensation positively affect the accounting performance measures return on assets and Tobin's Q; but neither compensation components affects the market-performance measure, stock returns, in the lodging industry. Quantitatively similar findings are found for the chief financial officer (CFO). Further robustness test show that further lags of equity compensation of both named executives do not result in increased stock performance in the lodging industry.
DOI	10.1016/j.ijhm.2013.12.007
Cilt	38

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Compensation practices in the lodging industry: Does top management pay affect corporate performance?

Yazar Upneja, A., Özdemir, Özgür

Basım Tarihi 2014-04

Basım Yeri - Elsevier

Konu Firm performance, Compensation, CEO, CFO, Agency theory

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 1873-4693

Kayıt Numarası 521f4276-6b31-41da-aaa2-58c03a253f6c

Lokasyon Hotel Management

Tarih 2014-04

Notlar Due to copyright restrictions, the access to the full text of this article is only available via subscription.

Örnek Metin The current study examines the relationship between executive compensation and firm performance in the U.S. lodging industry. It is not clear-cut whether performance leads to compensation or compensation drives firm performance. Our contention is that cash and lagged equity-based compensation drive the firm performance. Our findings suggest that chief executive officer's (CEO) contemporaneous cash-compensation and one-year lagged equity-compensation positively affect the accounting performance measures return on assets and Tobin's Q; but neither compensation components affects the market-performance measure, stock returns, in the lodging industry. Quantitatively similar findings are found for the chief financial officer (CFO). Further robustness test show that further lags of equity compensation of both named executives do not result in increased stock performance in the lodging industry.

DOI 10.1016/j.ijhm.2013.12.007

Cilt 38