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    Pay dispersion, culture and bank performance

    Yu, Pei-yi and Luu, B.V. (2017) Pay dispersion, culture and bank performance. In: Ibeh, Kevin and Tolentino, Paz Estrella and Janne, Odile and Liu, Xiaming (eds.) Growth Frontiers in International Business. The Academy of International Business IV. Springer, pp. 257-286. ISBN 9783319488509.

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    Abstract

    This chapter examines the impact of executive pay dispersion on firm performance and valuation in a global sample of banks. Controlling for cultural differences across countries, we test whether the equity fairness theory (favoring smaller pay dispersion) or tournament theory (arguing for greater pay dispersion) is a better description of the relationship between pay dispersion and performance. We find that the equity fairness theory prevails in most sub-groups of our sample, with the exception of Common Law developed country banks. We also find for our sample banks in Developed Countries that Individualism is positively associated with market valuation, while Uncertainty Avoidance has a negative effect.

    Metadata

    Item Type: Book Section
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Depositing User: Dr. Ellen Pei-yi Yu
    Date Deposited: 06 Apr 2017 17:10
    Last Modified: 04 Dec 2018 15:53
    URI: http://eprints.bbk.ac.uk/id/eprint/16605

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