Director Compensation and CEO Bargaining Power in Reits
33 Pages Posted: 19 Dec 2006
There are 2 versions of this paper
Director Compensation and CEO Bargaining Power in Reits
Director Compensation and CEO Bargaining Power in REITs
Date Written: October 30, 2006
Abstract
We analyze director compensation for Real Estate Investment Trusts (REITs) and investigate the relations between director compensation and other measures of the board independence and board monitoring. Using 136 REITs in 2001, we find the REITs that pay higher equity-based compensation to their board members are associated with higher financial performance. Our data indicate that board equity-based compensation is positively related to the existence of an independent nomination committee, however, it has no significant relationship with board size, proportion of outside directors, CEO duality and CEO tenure and ownership.
Keywords: Director compensation, Nomination Committee, CEO involvement, Real Estate Investment
JEL Classification: G1, G3
Suggested Citation: Suggested Citation
Do you want regular updates from SSRN on Twitter?
Recommended Papers
-
By Jay C. Hartzell, Libo Sun, ...
-
The Effect of Corporate Governance on Investment: Evidence from Real Estate Investment Trusts
By Jay C. Hartzell, Libo Sun, ...
-
By Jay C. Hartzell, Crocker H. Liu, ...
-
Reit Dividend Determinants: Excess Dividends and Capital Markets
By William G. Hardin and Matthew D. Hill
-
Insider Ownership and Firm Value: Evidences from Real Estate Investment Trusts
By Bing Han
-
By James C. Brau and Andrew M. Holmes
-
Explaining the Variation in Reit Capital Structure: The Role of Asset Liquidation Value
By Erasmo Giambona, John P. Harding, ...
-
Explaining the Variation in Reit Capital Structure: The Role of Asset Liquidation Value
By Erasmo Giambona, John P. Harding, ...
-
The Role of the Underlying Real Asset Market in REIT Ipos
By Jay C. Hartzell, Crocker H. Liu, ...
-
Corporate Governance and Performance: The REIT Effect
By Rob Bauer, Piet M. A. Eichholtz, ...