Board control and ceo compensation
研究董事会控制对CEO薪酬的影响，发现控制较弱的企业CEO薪酬更高，但薪酬与公司规模或盈利无显著关联。
Abstract The board of directors has been identified as a key internal control mechanism for setting CEO compensation. Theory suggests that CEOs will attempt to circumvent board control in an effort to maximize salary. This hypothesis was tested using a sample of 193 firms in a cross‐section of industries. Corporate governance literature was reviewed to develop a multiple indicator measure of board control. Although, as hypothesized, CEO salaries were greater in firms with lower levels of control, CEO compensation was not significantly related to firm size or profitability.