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dc.creatorCohen, S. (Shira)-
dc.creatorKadach, I. (Igor)-
dc.creatorOrmazabal, G. (Gaizka)-
dc.creatorReichelstein, S. (Stefan)-
dc.date.accessioned2023-12-07T10:38:55Z-
dc.date.available2023-12-07T10:38:55Z-
dc.date.issued2023-
dc.identifier.citationCohen, S. (Shira); Kadach, I. (Igor); Ormazabal, G. (Gaizka); et al. "Executive compensation tied to ESG performance: international evidence". Journal of Accounting Research. 61 (3), 2023, 805 - 853es_ES
dc.identifier.issn1475-679X-
dc.identifier.urihttps://hdl.handle.net/10171/68005-
dc.description.abstractUsing a wide sample of international publicly traded firms, this paper studies the rapidly increasing practice of incorporating Environmental, Social, and Governance (ESG) metrics in executive compensation contracts. Our evidence suggests that this compensation practice varies at the country, industry, and firm levels in ways that are consistent with efficient incentive contracting. We also observe that reliance on ESG metrics in executive compensation arrangements is associated with engagement, voting, and trading by institutional investors, which suggests that firms could be adopting this practice to align their management's objectives with the preferences of certain shareholder groups. Finally, we find that the adoption of ESG Pay is accompanied by improvements in key ESG outcomes, but not by improvements in financial performance.es_ES
dc.description.sponsorshipShira Cohen gratefully acknowledges financial support from SDSU Seed Grant Program and the CIBER faculty research grant. Igor Kadach gratefully acknowledges the financial support of the State Research Agency (AEI) of the Spanish Ministry of Science, Innovation and Universities - PID2020-115069GB-I00 / AEI / 10.13039/501100011033. Gaizka Ormazabal thanks the “Cátedra de Dirección de Institu- ciones Financieras y Gobierno Corporativo del Grupo Santander” and the Spanish Ministry of Science and Innovation, grant ECO2018- 97335-P. Stefan Reichelstein thanks the Deutsche Forschungsgemeinschaft (TRR266) for supporting this research. We also acknowledge the support and funding received from Social Trends Institute STI.es_ES
dc.language.isoenges_ES
dc.publisherWileyes_ES
dc.relationinfo_eu-repo/granAgreement/AEI/Proyectos I+D/PID2020-115069GB-I00/[ES]/ANALISIS EMPIRICO DE LOS EFECTOS ECONOMICOS Y FINANCIEROS DE LA DIVULGACION DE INFORMACION PRIVADA DE LAS EMPRESASes_ES
dc.rightsinfo:eu-repo/semantics/openAccesses_ES
dc.subjectESG metricses_ES
dc.subjectExecutive compensationes_ES
dc.subjectInstitutional ownershipes_ES
dc.titleExecutive compensation tied to ESG performance: international evidencees_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.description.noteThis is an open access article under the terms of the Creative Commons Attribution Licensees_ES
dc.identifier.doi10.1111/1475-679X.12481-
dadun.citation.endingPage853es_ES
dadun.citation.number3es_ES
dadun.citation.publicationNameJournal of Accounting Researches_ES
dadun.citation.startingPage805es_ES
dadun.citation.volume61es_ES

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