This paper studies the determinants of executive compensation in listed firms in China between 2002 and 2005. There is significantly positive elasticity of compensation to scale. Moreover, corporate performance is positively related to the elasticity of compensation to scale. We find that both agency theory and managerialism hold true in Chinese listed companies. Compensation contract is the result of the game by stockholders and managers
An Empirical Analysis of Directors’ Performance, Remuneration and Corporate Performance of Chinese Listed Companies
