This meta-analysis takes stock of 121 C.E.O. pay studies published between 1998 and 2018 with the objective of identifying the main drivers of C.E.O. pay from a global perspective and contributing to the agency vs managerial debate on this ground. The meta-results disclose a positive C.E.O. pay-performance correlation (the highest correlation coefficient corresponds to Earnings per share with a 34%) as the agency theory prescribes and the governance policies promote. However, firm size still predominates as the main driver of C.E.O. pay (correlation coefficient is around 44%) according to managerial premises. Moreover, our results reconcile both approaches because results of the meta-regressions suggest that larger companies and more independent boards strengthen the pay-performance association. Additional analyses of moderating factors on C.E.O. pay forces do not provide robust conclusions, though, they suggest: (1) weak impact, if any, of both the Cadbury Report and the S.O.X.; and (2) lack of homogeneity in the banking industry despite its specific regulation.
ARTICLE HISTORY
This study presents an innovative experience using movies in an accounting class. The learning experience was found interesting and useful for the learning process in three groups in University XXX. The students voluntarily watched three movies and answered a test for each one, containing questions about the ethical and accounting concepts in the film, as well as their satisfaction with the methodology. Non-parametric tests have been computed to assess if those students that watch a movie obtain a higher exam mark as compared to those that do not follow the methodology, as well as for the other accounting and ethical questions. Our results show that there is a particular film that evidences a significant effect on the final exam mark for more questions than the other films. In general, the results are valuable as they show that students get engaged with this methodology and this can help students to improve their exam result.
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