This study examines the compensation structure in Korea, where CEO compensation has been mandated to disclose as public information since 2013, focusing on family CEOs of business froup(chaebols). We find that total CEO comoensation level is indifferent between chaebol and non-chaebol firms but chaebol firms provide compensation mix with less proportion of bonus. Also, while non-chaebol firms set performance-comtingent CEO compensation, chaebol frims do not. Furthermore, among the chaebol firms, family CEOs receive more total compendation than non-family CEOs, but the bonus level is similar to the non-family CEOs' profitability than industry-average. It implies rent extraxtion through compensation by controlling families in Korean business groups.
JEL Classificatin:
Keyword: CEO compensation, Family business group, Family CEO, Emerging market
학회소식
[2016년 제 3차] Compensation Structure of Family Business Groups: E
작성자 : 관리자
조회수 : 969
게시일 :
2016-08-24
