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Identifier to cite or link to this item: https://hdl.handle.net/10086/13959

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Title
The Determinants of Executive Compensation in Japan and the UK: Agency Hypothesis or Joint Determination Hypothesis?
Creator
Creator Name
Kubo, Katsuyuki Kubo, Katsuyuki
久保, 克行 久保, 克行
クボ, カツユキ クボ, カツユキ
Affiliation
Affiliation Name
Hitotsubashi University
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Key Word
Executive Compensation
Corporate Governance
Company performance
Japan
UK
JEL
G30
J33
L20
M10
Abstract
Although there are many studies on executive compensation, many of these studies often take for granted the 'Anglo-American style of corporate governance'. This paper seeks to contrast the effect of corporate governance on the directors' incentive, by comparing the UK and Japan. There is a positive and significant relationship between directors' pay and employees' average wage in Japan, suggesting that both directors and employees have a similar incentive system while no such relationship is observed in the UK. These results suggest that the difference in corporate governance affects the director's salary and their incentives.
Description
February 2001
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2001-02
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
CEI Working Paper Series ; No. 2001-2
Relation
Related Identifier
URI
  http://cei.ier.hit-u.ac.jp/index.html
NCID
AA11590659
Number of Pages
36
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/13959