https://scholars.lib.ntu.edu.tw/handle/123456789/579988
標題: | Negotiating or regulating executive compensation: application of Benford’s law | 作者: | Yang Y.-H YAO-MIN CHIANG Liu H.-M Huang L. |
公開日期: | 2021 | 來源出版物: | Applied Economics Letters | 摘要: | In this study, Benford’s law is used to examine whether the negotiation ability of executives can strongly influence the compensation level. In this paper, we analyse the executive compensation data of more than 3,000 Chinese listed companies from 1999 to 2017. The results indicated that Benford’s law can be used to distinguish performance-based compensations from basic salaries of executives. Some executives prefer to be paid in the form of integers. This study finds that violation of Benford’s law in private enterprises indicate that these executives have negotiating power or strong preferences. However, violation of Benford’s law in state-owned enterprises is due to restriction orders by the government to control the compensation of top executives. This result reveals the limitation of Benford’s law on manipulated numbers. ? 2021 Informa UK Limited, trading as Taylor & Francis Group. |
URI: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85101253027&doi=10.1080%2f13504851.2021.1885607&partnerID=40&md5=506590a40dabed398c11f5b5e32c3c20 https://scholars.lib.ntu.edu.tw/handle/123456789/579988 |
ISSN: | 13504851 | DOI: | 10.1080/13504851.2021.1885607 |
顯示於: | 財務金融學系 |
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