Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon

Detalhes bibliográficos
Autor(a) principal: Serapicos, Armando
Data de Publicação: 2019
Outros Autores: Leite, Joaquim, Fernandes, Paula Odete
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10198/21878
Resumo: The aim of the present study was to understand, in Portugal, relationships between the Chief Executive Officer (CEO) and the organizational performance, on the one hand, and relationships between the shareholder value creation and the CEO total compensation, on the other hand. This research is divided into two parts. The first part was examined whether organizational performance based on accounting measures influences organizational performance based on market measures and whether organizational performance based on accounting measures and market measures influences the CEO total compensation. The second part of the study analyses whether organizational performance, based on accounting measures and market measures, and the CEO total compensation influence the shareholder value creation. This research was based on agency theory assumptions in order to build the analysis model. The sample was composed of companies listed on Euronext Lisbon. The data analysis was performed using the structural equation modelling method. The results showed that organizational performance based on accounting measures influences organizational performance based on market measures, the CEO total compensation and the shareholder value creation.
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spelling Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext LisbonAgency theoryOrganizational performanceCEO CompensationShareholder value creationThe aim of the present study was to understand, in Portugal, relationships between the Chief Executive Officer (CEO) and the organizational performance, on the one hand, and relationships between the shareholder value creation and the CEO total compensation, on the other hand. This research is divided into two parts. The first part was examined whether organizational performance based on accounting measures influences organizational performance based on market measures and whether organizational performance based on accounting measures and market measures influences the CEO total compensation. The second part of the study analyses whether organizational performance, based on accounting measures and market measures, and the CEO total compensation influence the shareholder value creation. This research was based on agency theory assumptions in order to build the analysis model. The sample was composed of companies listed on Euronext Lisbon. The data analysis was performed using the structural equation modelling method. The results showed that organizational performance based on accounting measures influences organizational performance based on market measures, the CEO total compensation and the shareholder value creation.Biblioteca Digital do IPBSerapicos, ArmandoLeite, JoaquimFernandes, Paula Odete2020-04-30T09:55:59Z20192019-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10198/21878engSerapicos, Armando Jorge; Leite, Joaquim; Fernandes, Paula O. (2019). Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon. Contaduría y Administración. ISSN 0186-1042. 64:3, p. 1-190186-104210.22201/fca.24488410e.2018.1693info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-21T10:48:46Zoai:bibliotecadigital.ipb.pt:10198/21878Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T23:12:55.222625Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
title Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
spellingShingle Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
Serapicos, Armando
Agency theory
Organizational performance
CEO Compensation
Shareholder value creation
title_short Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
title_full Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
title_fullStr Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
title_full_unstemmed Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
title_sort Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon
author Serapicos, Armando
author_facet Serapicos, Armando
Leite, Joaquim
Fernandes, Paula Odete
author_role author
author2 Leite, Joaquim
Fernandes, Paula Odete
author2_role author
author
dc.contributor.none.fl_str_mv Biblioteca Digital do IPB
dc.contributor.author.fl_str_mv Serapicos, Armando
Leite, Joaquim
Fernandes, Paula Odete
dc.subject.por.fl_str_mv Agency theory
Organizational performance
CEO Compensation
Shareholder value creation
topic Agency theory
Organizational performance
CEO Compensation
Shareholder value creation
description The aim of the present study was to understand, in Portugal, relationships between the Chief Executive Officer (CEO) and the organizational performance, on the one hand, and relationships between the shareholder value creation and the CEO total compensation, on the other hand. This research is divided into two parts. The first part was examined whether organizational performance based on accounting measures influences organizational performance based on market measures and whether organizational performance based on accounting measures and market measures influences the CEO total compensation. The second part of the study analyses whether organizational performance, based on accounting measures and market measures, and the CEO total compensation influence the shareholder value creation. This research was based on agency theory assumptions in order to build the analysis model. The sample was composed of companies listed on Euronext Lisbon. The data analysis was performed using the structural equation modelling method. The results showed that organizational performance based on accounting measures influences organizational performance based on market measures, the CEO total compensation and the shareholder value creation.
publishDate 2019
dc.date.none.fl_str_mv 2019
2019-01-01T00:00:00Z
2020-04-30T09:55:59Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10198/21878
url http://hdl.handle.net/10198/21878
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Serapicos, Armando Jorge; Leite, Joaquim; Fernandes, Paula O. (2019). Agency theory approach of the relationship between performance, compensation and value creation in the companies listed on Euronext Lisbon. Contaduría y Administración. ISSN 0186-1042. 64:3, p. 1-19
0186-1042
10.22201/fca.24488410e.2018.1693
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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