Is executive compensation a substitute governance mechanism to debt financing and leasing?
(2015)
Journal Article
Minhat, M., & Dzolkarnaini, N. (2015). Is executive compensation a substitute governance mechanism to debt financing and leasing?. Applied Economics, 48(14), 1293-1302. https://doi.org/10.1080/00036846.2015.1100247
This study examines whether and how CEO equity incentives relate to financing choices (i.e., debt and leases). Using manually collected CEO compensation and lease data for a sample of large UK firms, we found evidence of a negative relationship betwe... Read More about Is executive compensation a substitute governance mechanism to debt financing and leasing?.