Religion, corporate governance, and executive compensation
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F18%3A10372211" target="_blank" >RIV/00216208:11230/18:10372211 - isvavai.cz</a>
Result on the web
<a href="http://journal.fsv.cuni.cz/storage/1402_34-70_novak_final_issue_1_2018.pdf" target="_blank" >http://journal.fsv.cuni.cz/storage/1402_34-70_novak_final_issue_1_2018.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Religion, corporate governance, and executive compensation
Original language description
We investigate how regional variation in religiosity and the prevalent religious denomination in a U.S. state where a company is headquartered are associated with the level and structure of executive compensation. We document a substantial compensation premium in executives working at firms headquartered in U.S. states with a high proportion of Catholics and conversely a discount in states with a high proportion of Protestants. We provide evidence suggesting that these findings are not caused by heterogeneous demand for executive's effort, managerial ability, or social skills. Our results are consistent with the "Catholic premium" and the "Protestant discount" being associated with the adherence to different social values that have implications for corporate governance quality and for managerial entrenchment. Our results highlight the importance of social values for economic activity and for contracting between economic agents.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GA15-13040S" target="_blank" >GA15-13040S: Accounting Earnings Quality, Insider Trading Profitability and Stock Price Informativeness</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Finance a úvěr
ISSN
0015-1920
e-ISSN
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Volume of the periodical
68
Issue of the periodical within the volume
1
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
37
Pages from-to
34-70
UT code for WoS article
000429611700003
EID of the result in the Scopus database
2-s2.0-85042004538