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Determinants of Independent Director Compensation: An Exploratory Study in a Socialist Capitalist Economy

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Authors
Adithipyangkul, Pattarin
Leung, T.Y.
Date
2012
Type
Conference Paper

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Adithipyangkul, P. and Leung, T.Y. 2012. Determinants of Independent Director Compensation: An Exploratory Study in a Socialist Capitalist Economy, in Annalisa Prencipe (ed), European Accounting Association 35th Annual congress (EAA), May 9-11 2014. Ljubljana, Slovenia: European Accounting Association.
Source Title
Proceedings of the European Accounting Association 35th Annual congress (EAA)
Source Conference
European Accounting Association 35th Annual congress (EAA)
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Abstract

This paper examines the determinants of Chinese independent director compensation by considering (i) director characteristics such as age, gender, education level, professional expertise, and experience, (ii) board characteristics such as board size and board independence, and (iii) firm characteristics such as ownership structure, firm age", firm size, and firm performance. The research finds that independent director compensation is determined by director's human capital, as measured by professional expertise, work experience, and education level. We also find that the firm characteristics and director's attributes interact to determine independent director pay.