The impact of risks on CEO compensation: an analysis of the SBF 120 between 2014-2019 / Gwenaël ANDRIVON / 2021

Titre : The impact of risks on CEO compensation: an analysis of the SBF 120 between 2014-2019 Type de document : Mémoire Auteurs : Gwenaël ANDRIVON, Auteur Année de publication : 2021 Importance : 24 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 ACTION ; FISCALITE ; STRUCTURE DE L'ENTREPRISE Entreprise OPTIONS Résumé : This paper aims at assessing the relationship between risks and CEO compensation for SBF 120 firms between 2014 and 2019. Risks are measured through four proxies: R&D expenses deflated by assets, gearing ratio as long-term debt over equity, sector adjusted stock price volatility and CAPM’s beta. We run two linear regression models to find this links. Looking at the total pay, we find a positive relationship for the gearing ratio and beta but a negative one for price volatility. No significant link is found for R&D expenses. When looking at the compensation structure, we get the same results for cash-based pay. On the other hand, non-cash-based pay shows a positive relationship with R&D expenses and a negative one with price volatility. No significant link is found for gearing ratio and beta. Most of those results are aligned with the literature, except for the gearing ratio relationship with non- cash-based compensation. Programme : PGE-Reims Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538141