DC Field | Value | Language |
---|---|---|
dc.contributor.author | Hwang, Induck | ko |
dc.contributor.author | Kim, H. | ko |
dc.contributor.author | Pae, S. | ko |
dc.date.accessioned | 2016-04-06T01:25:44Z | - |
dc.date.available | 2016-04-06T01:25:44Z | - |
dc.date.created | 2015-06-11 | - |
dc.date.created | 2015-06-11 | - |
dc.date.issued | 2014-01 | - |
dc.identifier.citation | JOURNAL OF APPLIED BUSINESS RESEARCH, v.30, no.1, pp.15 - 26 | - |
dc.identifier.issn | 0892-7626 | - |
dc.identifier.uri | http://hdl.handle.net/10203/202956 | - |
dc.description.abstract | This study provides evidence on the association between equity-based compensation for outside directors and the implied cost of equity capital. Based on the premise that equity-based compensation for outside directors better aligns the interests of the directors with those of shareholders, we investigate whether the more equity-based compensation is granted to outside directors, the lower cost of equity capital firms enjoy. We find a negative relationship between the proportion of equity-based compensation to total compensation for outside directors and the cost of equity capital. Our findings suggest that equity-based compensation for outside directors, by motivating the directors to play their monitoring role more faithfully, reduces agency risks resulting in the lower cost of equity capital. | - |
dc.language | English | - |
dc.publisher | Western Academic Publishers | - |
dc.title | Equity-based compensation for outside directors and cost of equity capital | - |
dc.type | Article | - |
dc.identifier.scopusid | 2-s2.0-84891595413 | - |
dc.type.rims | ART | - |
dc.citation.volume | 30 | - |
dc.citation.issue | 1 | - |
dc.citation.beginningpage | 15 | - |
dc.citation.endingpage | 26 | - |
dc.citation.publicationname | JOURNAL OF APPLIED BUSINESS RESEARCH | - |
dc.contributor.nonIdAuthor | Kim, H. | - |
dc.contributor.nonIdAuthor | Pae, S. | - |
dc.subject.keywordAuthor | Corporate Governance | - |
dc.subject.keywordAuthor | Cost of Equity Capital | - |
dc.subject.keywordAuthor | Equity-Based Compensation | - |
dc.subject.keywordAuthor | Information Asymmetry | - |
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