Affiliation:
1. Department of Management, Towson University, Towson, MD, USA
Abstract
This paper examines the influence of top management team (TMT) pay structure characteristics (such as pay dispersion, long-term variable pay, and short-term variable pay) on corporate social performance (CSP) based on upper echelon theory and agency theory. The analysis using a large panel sample of US public firms reveals that long-term oriented and egalitarian TMT pay structure has a positive influence on CSP. In addition, the negative influence of short-term variable pay on CSP becomes stronger as the pay difference among TMT members becomes greater. Theoretical and practical implications of these findings will be discussed.
Subject
Strategy and Management,Business, Management and Accounting (miscellaneous)
Cited by
21 articles.
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