Do directors perform for pay?

Adams, Renée and Ferreira, Daniel Do directors perform for pay? Journal of Accounting and Economics, 46 (1). pp. 154-171.

Abstract

Many corporations reward their outside directors with a modest fee for each board meeting they attend. Using a large panel data set on director attendance behavior in publicly-listed firms for the period 1996–2003, we provide robust evidence that directors are less likely to have attendance problems at board meetings when board
meeting fees are higher. This is surprising since meeting fees, on average roughly $1,000, represent an arguably small fraction of the total wealth of a representative director in our sample. Thus, corporate directors appear to perform for even very small financial
rewards.

Item Type: Article
Keywords: directors, executive compensation, executives, attendance, board meetings, finance
Subject(s): Finance
Date Deposited: 03 Oct 2018 12:00
Last Modified: 03 Oct 2018 12:00
Funders: N/A
URI: http://eureka.sbs.ox.ac.uk/id/eprint/6977

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