Large Shareholders and Independent Director Equity Compensation
This paper investigates the use of equity compensation for independent directors, with a focus on the impact of large shareholders on a company's tendency to use equity compensation to align independent directors’ interests with those of shareholders. Based on data from 215 large Australian lis...
| Main Authors: | , |
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| Format: | Journal Article |
| Published: |
Wiley-Blackwell Publishing Asia
2016
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| Online Access: | http://hdl.handle.net/20.500.11937/46340 |
| _version_ | 1848757530148208640 |
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| author | Adithipyangkul, Pattarin Leung, T. |
| author_facet | Adithipyangkul, Pattarin Leung, T. |
| author_sort | Adithipyangkul, Pattarin |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper investigates the use of equity compensation for independent directors, with a focus on the impact of large shareholders on a company's tendency to use equity compensation to align independent directors’ interests with those of shareholders. Based on data from 215 large Australian listed companies from 2005–2009, our analyses show that the use of equity incentive pay for independent directors is more likely when the aggregate ownership percentage of large shareholders is moderate, when there are multiple large shareholders and when the ownership stakes of large shareholders are more comparable. This paper contributes to the literature by providing new evidence of how various aspects of ownership dispersion affect compensation design for independent directors. |
| first_indexed | 2025-11-14T09:29:33Z |
| format | Journal Article |
| id | curtin-20.500.11937-46340 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T09:29:33Z |
| publishDate | 2016 |
| publisher | Wiley-Blackwell Publishing Asia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-463402019-02-19T05:35:18Z Large Shareholders and Independent Director Equity Compensation Adithipyangkul, Pattarin Leung, T. This paper investigates the use of equity compensation for independent directors, with a focus on the impact of large shareholders on a company's tendency to use equity compensation to align independent directors’ interests with those of shareholders. Based on data from 215 large Australian listed companies from 2005–2009, our analyses show that the use of equity incentive pay for independent directors is more likely when the aggregate ownership percentage of large shareholders is moderate, when there are multiple large shareholders and when the ownership stakes of large shareholders are more comparable. This paper contributes to the literature by providing new evidence of how various aspects of ownership dispersion affect compensation design for independent directors. 2016 Journal Article http://hdl.handle.net/20.500.11937/46340 10.1111/auar.12097 Wiley-Blackwell Publishing Asia fulltext |
| spellingShingle | Adithipyangkul, Pattarin Leung, T. Large Shareholders and Independent Director Equity Compensation |
| title | Large Shareholders and Independent Director Equity Compensation |
| title_full | Large Shareholders and Independent Director Equity Compensation |
| title_fullStr | Large Shareholders and Independent Director Equity Compensation |
| title_full_unstemmed | Large Shareholders and Independent Director Equity Compensation |
| title_short | Large Shareholders and Independent Director Equity Compensation |
| title_sort | large shareholders and independent director equity compensation |
| url | http://hdl.handle.net/20.500.11937/46340 |