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Determinants of share-based compensation plans in Central and Eastern European public companies: An institutional analysis

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  • Marion Festing
  • Ihar Sahakiants

Abstract

This paper discusses the adoption of share-based compensation plans among Central and Eastern European (CEE) public companies composing major national stock exchange indices in Poland (WIG 20), the Czech Republic (PX) and Hungary (BUX). The analysis shows that the spread of such pay practices depends on the characteristics of major shareholders of the company, the state and foreign parent companies being the most prominent influencing factors. The results are discussed in the light of the legal environment in respective countries.

Suggested Citation

  • Marion Festing & Ihar Sahakiants, 2011. "Determinants of share-based compensation plans in Central and Eastern European public companies: An institutional analysis," Journal of East European Management Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 16(4), pages 338-357.
    • Handle: RePEc:nms:joeems:doi_10.1688/1862-0019_jeems_2011_04_festing
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    File URL: https://www.nomos-elibrary.de/10.5771/0949-6181-2011-4-338
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    References listed on IDEAS

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    5. Yun W. Park & Toni Nelson & Mark R. Huson, 2001. "Executive Pay And The Disclosure Environment: Canadian Evidence," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 24(3), pages 347-365, September.
    6. David J Sharp & Stephen B Salter, 1997. "Project Escalation and Sunk Costs: A test of the International Generalizability of Agency and Prospect Theories," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 28(1), pages 101-121, March.
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    Cited by:

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    More about this item

    Keywords

    Central and Eastern Europe; CEO Compensation; Comparative HRM; Institutional Environment; Ownership/Control Structures;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • M50 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - General
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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