FIRM ATTRIBUTES AND EXECUTIVE COMPENSATION OF CONGLOMERATES IN NIGERIA
Journal Title: Gusau Journal of Accounting and Finance - Year 2020, Vol 1, Issue 1
Abstract
Executive compensation, particularly in the western countries has over the years received intense media and research interest particularly from the occurrence of large corporate failures. This brought to the fore, the seemingly huge compensation been received by the Executive Directors irrespective of the nature of the performance of the companies they manage. This study examined the impact of firm attributes on executive compensation using panel data from a sample of six listed conglomerates in Nigeria for a period of nine years (2010-2018). Ordinary least square (OLS) was used as technique of data analysis. The findings revealed a positive and significant impact of firm financial performance (that is: return on asset and return on equity) on executive compensation while executive ownership had a negative and significant effect on executive compensation of listed conglomerates in Nigeria. The study concluded that firm financial performance and executive ownership impact on the quantum of compensation paid to the Executive Directors, while institutional ownership, board composition and board size does not significantly. Therefore, it is recommended that the listed conglomerates in Nigeria should improve the design of the compensation of the Executive Directors with financial incentives and stocks (equity) as it will enhance the maximization of the shareholders’ wealth.
Authors and Affiliations
Aliyu Saidu
Keywords
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