The relationship between compensation committee quality and the voluntary adoption of clawback provisions

Hui Wen Hsu; Liu Ching Tsai; Chaur Shiuh Young; Chia Hui Chen

doi:10.21511/imfi.15(4).2018.28

The relationship between compensation committee quality and the voluntary adoption of clawback provisions

Hui Wen Hsu, Liu Ching Tsai, Chaur Shiuh Young, Chia Hui Chen

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

This paper examines how compensation committee quality is related to the voluntary adoption of clawback provisions. Because fair value information has some reliability issues, this paper further examines whether the amount of Level 3 fair values affect the relationship between compensation committee quality and the voluntary adoption of clawback provisions. Using a sample drawn from the U.S. firms from 2008 to 2015, the results show that the compensation committee quality is positively related to the voluntary adoption of clawback provisions. Additionally, the positive relationship between compensation committee quality and the voluntary adoption of clawback provisions is more pronounced for firms with higher Level 3 fair values.

Original language	English
Pages (from-to)	345-355
Number of pages	11
Journal	Investment Management and Financial Innovations
Volume	15
Issue number	4
DOIs	https://doi.org/10.21511/imfi.15(4).2018.28
Publication status	Published - 2018

All Science Journal Classification (ASJC) codes

Business and International Management
Accounting
Finance
Economics and Econometrics
Strategy and Management

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title = "The relationship between compensation committee quality and the voluntary adoption of clawback provisions",

abstract = "This paper examines how compensation committee quality is related to the voluntary adoption of clawback provisions. Because fair value information has some reliability issues, this paper further examines whether the amount of Level 3 fair values affect the relationship between compensation committee quality and the voluntary adoption of clawback provisions. Using a sample drawn from the U.S. firms from 2008 to 2015, the results show that the compensation committee quality is positively related to the voluntary adoption of clawback provisions. Additionally, the positive relationship between compensation committee quality and the voluntary adoption of clawback provisions is more pronounced for firms with higher Level 3 fair values.",

author = "Hsu, {Hui Wen} and Tsai, {Liu Ching} and Young, {Chaur Shiuh} and Chen, {Chia Hui}",

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AB - This paper examines how compensation committee quality is related to the voluntary adoption of clawback provisions. Because fair value information has some reliability issues, this paper further examines whether the amount of Level 3 fair values affect the relationship between compensation committee quality and the voluntary adoption of clawback provisions. Using a sample drawn from the U.S. firms from 2008 to 2015, the results show that the compensation committee quality is positively related to the voluntary adoption of clawback provisions. Additionally, the positive relationship between compensation committee quality and the voluntary adoption of clawback provisions is more pronounced for firms with higher Level 3 fair values.

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