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Compensation practices in the lodging industry: Does top management pay affect corporate performance?

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dc.contributor.authorUpneja, A.
dc.contributor.authorÖzdemir, Özgür
dc.contributor.departmentHotel Management
dc.contributor.ozuauthorÖZDEMİR, Özgür
dc.date.accessioned2014-12-21T14:50:58Z
dc.date.available2014-12-21T14:50:58Z
dc.date.issued2014-04
dc.descriptionDue to copyright restrictions, the access to the full text of this article is only available via subscription.
dc.description.abstractThe current study examines the relationship between executive compensation and firm performance in the U.S. lodging industry. It is not clear-cut whether performance leads to compensation or compensation drives firm performance. Our contention is that cash and lagged equity-based compensation drive the firm performance. Our findings suggest that chief executive officer's (CEO) contemporaneous cash-compensation and one-year lagged equity-compensation positively affect the accounting performance measures return on assets and Tobin's Q; but neither compensation components affects the market-performance measure, stock returns, in the lodging industry. Quantitatively similar findings are found for the chief financial officer (CFO). Further robustness test show that further lags of equity compensation of both named executives do not result in increased stock performance in the lodging industry.
dc.identifier.doi10.1016/j.ijhm.2013.12.007
dc.identifier.endpage38
dc.identifier.issn1873-4693
dc.identifier.scopus2-s2.0-84891356317
dc.identifier.startpage30
dc.identifier.urihttp://hdl.handle.net/10679/760
dc.identifier.urihttps://doi.org/10.1016/j.ijhm.2013.12.007
dc.identifier.volume38
dc.identifier.wos000339538700004
dc.language.isoeng
dc.peerreviewedyes
dc.publicationstatuspublished
dc.publisherElsevier
dc.relation.ispartofInternational Journal of Hospitality Management
dc.rightsrestrictedAccess
dc.subject.keywordsFirm performance
dc.subject.keywordsCompensation
dc.subject.keywordsCEO
dc.subject.keywordsCFO
dc.subject.keywordsAgency theory
dc.titleCompensation practices in the lodging industry: Does top management pay affect corporate performance?
dc.typearticle
dspace.entity.typePublication
relation.isOrgUnitOfPublicationca93a919-1468-4da7-bcc5-9967156067ec
relation.isOrgUnitOfPublication.latestForDiscoveryca93a919-1468-4da7-bcc5-9967156067ec

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