How does Directors remuneration affect SMEs’ performance?
Journal article
Afrifa, G. and Adesina, S. 2018. How does Directors remuneration affect SMEs’ performance? Review of Accounting and Finance. 17 (2), pp. 238-258. https://doi.org/10.1108/RAF-12-2016-0199
Authors | Afrifa, G. and Adesina, S. |
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Abstract | The purpose of this paper is to explain empirically the relationship between the remuneration levels of a sample of listed Small and Medium Enterprises (SMEs) directors and firm performance. The paper also investigates whether deviations from the optimal directors’ remuneration level reduce firm performance. The study uses a panel data regression analysis of 802 AIM-listed SMEs over an eight-year period (2005-2012). Compared with previous literature on directors’ remuneration, this paper focuses on AIM-listed SMEs and our finding of a concave relationship between directors’ remuneration level and performance of leads us to recommend that firms, especially SMEs should endeavour to determine the optimal level of directors’ remuneration to maximise performance. |
Keywords | Directors’ remuneration, SMEs, AIM, performance, UK |
Year | 2018 |
Journal | Review of Accounting and Finance |
Journal citation | 17 (2), pp. 238-258 |
Digital Object Identifier (DOI) | https://doi.org/10.1108/RAF-12-2016-0199 |
Publication dates | |
2018 | |
Publication process dates | |
Deposited | 09 Nov 2017 |
Accepted | 28 Oct 2017 |
Accepted author manuscript | |
Output status | Published |
https://repository.canterbury.ac.uk/item/8862x/how-does-directors-remuneration-affect-smes-performance
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