Company Performance,Corporate Governance,and CEO Compensation in Norway and Sweden |
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| Authors: | Randøy Trond Nielsen Jim |
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| Affiliation: | (1) Centre for International Business and Maritime Studies, Agder University College, N-4604 Kristiansand, Norway;(2) College of Business, Oregon State University, Corvallis, Oregon, U.S.A |
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| Abstract: | This paper examines the relationshipamong company performance, corporategovernance arrangements, and CEO compensationwithin the Scandinavian countries of Norway andSweden. Our sample consists of 224 tradedcompanies, 120 of which are from Norway and 104from Sweden. The empirical evidence fromboth Norway and Sweden reveals significantpositive relationships among board size andCEO compensation, foreign board membership andCEO compensation, and market capitalization andCEO compensation. A significant negativerelationship is found between CEO ownership andCEO compensation. In addition, no significantrelationship is found between companyperformance and CEO compensation or CEO tenureand CEO compensation, except in the case ofNorwegian firms when a change in market-to-bookperformance measure is used. Despite itslimited geographical scope, the study adds toour general understanding of internationalcorporate governance issues. |
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| Keywords: | CEO compensation company performance corporate governance Norway Sweden |
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