What are the differences between US and French CEO compensation? / Antoine GUERRAUD / 2020

Titre : What are the differences between US and French CEO compensation? Type de document : Mémoire Auteurs : Antoine GUERRAUD, Auteur Année de publication : 2020 Importance : 33 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management MANAGER ; COMPENSATION ; PARTICIPATION ; REMUNERATION Résumé : The purpose of this seminar paper is to study corporate governance and more specifically the compensation of the CEOs of these companies. The study around my seminar paper focuses on the compensations’ differences between French CEOs and American CEOs. So, I chose to use the largest French companies listed on the CAC40 and the largest American companies listed on the S &P 500, reducing the scope to the 40 biggest firms in the US in order to have the same weighting for both markets. In more depth, I sought to know the base salary, plus the bonuses so as to know the total compensation structure and thus compare them. The differences in remuneration are large on both sides of the Atlantic, but the size of companies also varies. I therefore used linear regression to compare the compensation more fairly, knowing that American companies were basically larger than French companies. With this linear regression I wish to go further than the quantitative and qualitative studies that I did in the first part but also to make the data comparable between France and United States because as I said above the American companies are well larger than French companies. This study led me to find similarities between French and Americans’ compensations, however, there are notable differences, starting with the size of these, $ 200 million in the United States against $ 18 million in France. The differences are sometimes large, but similarities exist notably when we look at the figures extract with linear regressions which shows that for $ 1 of revenue for the company represents $ 0.007600 of additional compensation for the French CEO and $ 0,000064 for American CEOs. We will go further in the study during this seminar paper and we will try to understand what influences the allocation of certain components of the remuneration such as Restricted Stock or even the share or the Cash. Programme : PGE-Reims Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=529158