SN 4399 -Corporate Governance and Economic Performance, 1997-1998

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Title:
Corporate Governance and Economic Performance, 1997-1998

Subject Categories:
Management and organisation - Industry and management

Depositor(s):
Sadler, G., University of Warwick. Warwick Business School

Principal Investigator(s):
Sadler, G., University of Warwick. Warwick Business School
Conyon, M., University of Warwick. Warwick Business School

Sponsor(s):
Economic and Social Research Council

Grant Number:
R000237246

Abstract:
The main aims of the project were to:

examine the nature of corporate governance innovations that have occurred in UK companies since the publication of the Cadbury and Greenbury reports
test the company performance consequences of adopting particular governance systems, reward structures and incentive mechanisms
examine in detail the reward systems of senior managers and test the link between compensation and performance using competing theories of executive pay (e.g. tournament theory).

Main Topics:
File 1: Chief Executive Officer (CEO) compensation data (file ceo-compensation-data). This file contains detailed compensation data for 510 CEOs at the 510 largest UK companies for the fiscal year 1997-1998. The data includes each element of compensation, as well as information on stock options and equity (including restricted or conditional) holdings. Users should note that the following variables have been removed from the data for copyright reasons: MV, Employees, Total_CE, Sales, Sales_Q and Int_Rate. They may still be referenced in the documentation.

File 2: Tournaments data (file tournaments-data). This file contains detailed compensation data for all the named directors (over 1000) at 100 of the UK's largest companies for the fiscal year 1997-1998. The following variables have been removed from the data for copyright reasons: Int_Rate, ROCE and Total_CE. They may still be referenced in the documentation.

The data for both files are mostly compiled from publicly-available annual reports, and include each element of compensation, as well as information on stock options and equity (including restricted or conditional) holdings. Data are also augmented with additional firm level variables such as size and industry as well as the variables necessary to price executive options using the Black-Scholes formula.

Coverage:
Time Period Covered: 1997-1998
Country: United Kingdom
Spatial Units: Not applicable
Observation Units: Institutions/organisations
Kind of Data: Numeric data; Individual (micro) level; individual companies

Universe Sampled:
Location of Units of Observation:National
Population:Data covers the 510 largest UK companies for the fiscal year 1997-1998.

Methodology:
Time Dimensions: Cross-sectional (one-time) study
Sampling Procedures: CEO compensation data: the largest 510 UK companies by market capitalisation were included in the sample.
Tournaments data: 100 companies drawn randomly for 150 largest UK firms by market capitalisation.
Number of Units: CEO compensation data companies: 510. Tournament data companies: 100.
Method of Data Collection: Compilation or synthesis of existing material
Weighting: No weighting used
Data Sources: The majority of the data were collected manually from individual company annual reports and accounts.

Language(s) of Written Materials:
Study Description: English
Study Documentation: English

Access:
Access Conditions: The depositor has specified that registration is required and standard conditions of use apply. The depositor may be informed about usage. See terms and conditions for further information.
Availability: ESDS Access and Preservation, UK Data Archive
Contact: Help desk: help@esds.ac.uk

Date of Release:
First Edition: 12 December 2001

Documentation:

Format	Name	Size in Kilobytes	Description
PDF	a4399uab.pdf	261	User guide
HTML	UKDA_Study_4399_Information.htm	16	Study information and citation

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Catalogue record last updated:
2 March 2009

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