Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

Zhu, Jiajun; Gao, Jing; Tan, Hongping

doi:10.1016/j.dib.2020.106158

Cited by 2 publications

(1 citation statement)

References 13 publications

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“…The existing theoretical studies on the pay gap are mainly on the basis of the tournament theory [6,16], social comparison theory [17], relative exploitation theory [18], distribution preference theory [19] etc. Based on these theories, Chinese scholars have studied the influence of corporate governance structure, industry and ownership on within-firm pay gap [20], but these studies have not considered the China's unique background-political connection. Next, we will elaborate the institutional background from two aspects: one is the political connection of Chinese companies, and the other is the development of China's salary system.…”

Section: Institutional Background Theoretical Analysis and Hypothesismentioning

confidence: 99%

Political Connections, Ownership and Within-Firm Pay Gap

Fang

Duan

2022

Sustainability

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The difference in wages between executives and employees reflects the class conflict in corporate governance. To investigate the political factors within the practice of corporate governance related to employees, this paper empirically tests the relationship among political connections, ownership and within-firm pay gaps. We take the A-share listed companies on the Shanghai and Shenzhen Stock Exchange as the example, design hypothesis tests and examine the effects of political connections on the pay gap in two distinctive groups of companies, the state-owned enterprises (SOEs) and the non-stated-owned enterprises (non-SOEs). The overall result indicates that political connections increase the average salary of executives and decrease the average salary of employees, thereby expanding the within-firm pay gap. Pay gaps in companies with political connections are 16% higher than companies without political connections. The further test results of distinguishing property rights show that in non-SOEs, political connections increase the executives’ compensation and decrease the average compensation of employees, resulting in an increase of the within-firm pay gap. Similar relationships appear in SOEs but without statistical significance. These findings expand the research on income distribution effects of political connections theoretically, and provide useful insights for SOEs’ reform and income distribution system reform in practice.

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Section: Institutional Background Theoretical Analysis and Hypothesismentioning

confidence: 99%

Political Connections, Ownership and Within-Firm Pay Gap

Fang

Duan

2022

Sustainability

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Does leverage influence the impact of pay gaps on performance in listed retail and mining firms? Evidence from South Africa

Mnyaka-Rulwa,

Akande

2024

JAEE

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PurposeAgency theory motivated this study, posing that leverage mitigates the agency problem. The aim was to examine whether leverage influences the relationship between executive-employee pay gaps (EEPGs) and firm performance. The study was conducted in the mining and retail sectors between 2012 and 2021.Design/methodology/approachTwo EEPGs were featured based on their executive fixed pay and variable incentives accumulation. Proxies of firm performance were headline earnings per share; return on assets; earnings before interest, tax, depreciation and amortisation; and return on stock price. Data were collected from 76 JSE-listed firms in the retail and mining sectors and analysed using the two-step generalised method of moments.FindingsThe results revealed the hybrid implication of the pay gap for firm performance in the retail and mining sectors of South Africa, depending on the performance measures emphasised. More importantly, the study shows that with the moderating effects of leverage, firms can improve their performance while shrinking the pay gap.Practical implicationsThe results have implications for policy addressing income inequality, debt management, executive compensation and regulatory reforms in South Africa concerning productivity and remuneration decisions.Originality/valueThe article provides specific literature for retail and mining industries on pay gaps, shows that it is possible to reduce the pay gap without compromising performance and suggests a new measure of performance that is more attuned to pay gap effect measurement.

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Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

Cited by 2 publications

References 13 publications

Political Connections, Ownership and Within-Firm Pay Gap

Political Connections, Ownership and Within-Firm Pay Gap

Does leverage influence the impact of pay gaps on performance in listed retail and mining firms? Evidence from South Africa

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