Executive compensation and comprehensive income: evidence from Polish listed companies

Sajnóg, Artur

doi:10.24136/oc.2019.024

Cited by 4 publications

(5 citation statements)

References 36 publications

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“…This is particularly applicable to CEOs as they act as the "face of the company" (Love et al, 2017). This approach is consistent with the idea that the power, success, and failures of the company (Sajnóg, 2020) are often attributed to the CEOs. They are often linked to the company they represent; thus, they may transfer their personal brand to the organization through the concept of cobranding (Close et al, 2011;Parmentier et al, 2013;Scheidt et al, 2018).…”

Section: Literature Reviewsupporting

confidence: 76%

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The effect of the CEO media coverage on corporate brand equity: evidence from Poland

Górska

Mazurek

2021

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Research background: Despite increased attention in the literature to the importance of the CEO?s brand for companies, understanding of the effect of the CEO brand on the corporate brand remains limited. To contribute to this discussion, this paper investigates different facets of the impact of the CEO brand, and particularly its media coverage, on corporate brand equity. Purpose of the article: This study investigates the relationship between the different aspects of the CEO brand?s media coverage and corporate brand equity. Methods: Comprehensive media monitoring in the press and online sourcing of CEOs from the strongest Polish brands were conducted. For three years (2014?2017), media monitoring covered 81 CEOs, resulting in over 44,000 data points for this study. Regression analysis was conducted to determine whether a relationship exists between different facets of the CEO?s personal brand and company brand equity. Findings & value added: This study provides a new perspective on the relationship between the CEO and corporate brands and showcases empirical evidence of the CEO brand?s relationship with corporate brand equity. It introduces two relevant and novel variables (CEO brand reach and CEO brand advertising value equivalent [AVE]) to the literature, which have been limited to the number of mentions and its sentiment. Accordingly, this study contributes to the emerging literature of CEO branding within the branding field. Contrary to expectation, the intensity of media coverage alone was not significant. Results indicate that reach and AVE of CEO media exposure are reflected in the corporate brand equity. The study also finds that negative sentiment toward a CEO?s brand negatively affects corporate brand equity. The study adds to the growing stream of literature on the role of CEO brand.

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Section: Literature Reviewsupporting

confidence: 76%

“…Leaders are seen as the main force behind organizational actions and outcomes (Sajnóg, 2020). Thus, companies are the reflection of their leaders.…”

Section: Literature Reviewmentioning

confidence: 99%

The effect of the CEO media coverage on corporate brand equity: evidence from Poland

Górska

Mazurek

2021

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“…Additionally, their paper limited the compensation of executives to cash compensation. Finally, Sajnóg (2019) studied the relationship between executive compensation and profitability ratios, but this research covered only 86 firms from the industry sector.…”

Section: Introductionmentioning

confidence: 99%

Executive compensation and the financial performance of Polish listed companies from the corporate governance perspective

Sajnóg

Rogozińska–Pawełczyk

2022

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Research background: The level of compensation earned by CEOs and the relationship between executive pay and companies? performance is one of the most widely studied issues in the corporate governance literature. Studies conducted in the last several decades have provided evidence that CEO pay should be aligned with accounting financial measures. Purpose of the article: The main purpose of this paper is to determine the relationship between executive compensation and organizational financial performance. In particular, the effect of net income and comprehensive income as the accounting measures of financial performance on executive compensation is compared. Methods: The research comprised listed companies on the Warsaw Stock Exchange (WSE). The role and effect of accounting financial measures on executive compensation are analyzed based on three regression models. The period of analysis spanned ten years, from 2009 to 2018. Findings & value added: There are three conclusions that can be drawn from the study. Firstly, executive compensation in the analyzed companies largely depends on the accounting measures of financial performance, based on net income and comprehensive income (excluding ROE). Secondly, its level is significantly and positively influenced by the company?s size, Tobin?s Q ratio, debt ratio, and dividend rate. Thirdly, comprehensive income has a stronger effect on executive compensation than net income. Our findings add some potentially noteworthy dimensions to the economic literature on corporate governance, which is especially important to apply in the CEE region and other emerging economies. The Anglo-American assumption of corporate governance and executive compensation policy might not be suitable for the realities in much of the world.

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“…Pearson's correlation coefficient and subsequent regression methods are used in the evaluation of the Sajnóg company [49], thereby proving the correlation of diversity between performance compensation and profitability calculated with net profit and comprehensive income. Lee, Jeong, and Woo [50] create an evaluation system based on an integrated production planning process for shipbuilding companies in South Korea.…”

Section: Company Specific Modelmentioning

confidence: 99%

Creating a Comprehensive Method for the Evaluation of a Company

et al. 2020

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For investment purposes, the evaluation of a company is not only a matter for a company itself, but also for shareholders and external persons. There are many methods for evaluating a company. This contribution therefore focuses on the creation of a comprehensive method for the evaluation of an industrial enterprise, one that can be used to predict potential future bankruptcies, using a dataset of financial statements of active companies and those in liquidation in the period 2015–2019. Artificial neural networks were used to process the data, specifically logistic regressions from the data processed in the Statistica and Mathematica software programmes. The results showed that the models created using the Mathematica software are not applicable in practice due to the parameters of the obtained results. In contrast, the artificial neural structures obtained using the neural network model in the Statistica software were prospective due to their performance, which is almost always above 0.8, and the logical economic interpretation of the relevant variables. All the generated and retained networks show excellent performance and few errors. However, one of the artificial structures, network no. 4 (MLP 16-16-2), produces better results than the others. Overall, accuracy is almost 81%. In the case of the classification of companies capable of surviving financial distress, accuracy is almost 90%, with that for the classification of companies at risk of going into bankruptcy at nearly 55%.

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Executive compensation and comprehensive income: evidence from Polish listed companies

Cited by 4 publications

References 36 publications

The effect of the CEO media coverage on corporate brand equity: evidence from Poland

The effect of the CEO media coverage on corporate brand equity: evidence from Poland

Executive compensation and the financial performance of Polish listed companies from the corporate governance perspective

Creating a Comprehensive Method for the Evaluation of a Company

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