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Board of Directors’ Remuneration, Employee Costs, and Layoffs: Evidence from Spain

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dc.contributor.authorGonzález Sánchez, Mariano
dc.contributor.authorIbáñez Jiménez, Eva María
dc.contributor.authorSegovia San Juan, Ana Isabel
dc.date.accessioned2024-05-20T11:23:59Z
dc.date.available2024-05-20T11:23:59Z
dc.date.issued2021-07
dc.description.abstractMost of the empirical studies on board remuneration have focused on finding explanatory performance measures. There are studies that analyze if the compensation contracts of directors reward managers in such a way that they strive to maximize firm performance and shareholders’ wealth; however, there are few studies on the social aspect of corporate governance, or agent–employee and principal–employee relationships. Thus, in this study, our aim is to test whether there is a causal relationship between the remuneration of the board of directors of listed companies and the personnel policies of the companies, expressed through the cost of personnel and layoffs. For that, we used a sample of Spanish listed companies, and we found that two performance measures (return on equity and earnings per share on market price) have a greater effect on the growth rate of board remuneration when layoffs occur. Additionally, we found that the sales revenue and cash flow on total assets subsequently influenced personnel management.en
dc.description.versionversión publicada
dc.identifier.doihttps://doi.org/10.3390/su13147518
dc.identifier.issn2071-1050
dc.identifier.urihttps://hdl.handle.net/20.500.14468/11894
dc.journal.issue14
dc.journal.titleSustainability
dc.journal.volume13
dc.publisherMDPI
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentEconomía de la Empresa y Contabilidad
dc.rightsAtribución-NoComercial-SinDerivadas 4.0 Internacional
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0
dc.subject.keywordsfirm performance
dc.subject.keywordsboard remuneration
dc.subject.keywordslayoffs
dc.subject.keywordspersonnel management
dc.titleBoard of Directors’ Remuneration, Employee Costs, and Layoffs: Evidence from Spaines
dc.typeartículoes
dc.typejournal articleen
dspace.entity.typePublication
relation.isAuthorOfPublication1801f9f2-5927-4817-a82f-3baa664d18e1
relation.isAuthorOfPublication87e5c96e-59e3-4736-a6cf-2ea7e6d9fc86
relation.isAuthorOfPublication99559728-2011-4a2f-a766-4641487e2152
relation.isAuthorOfPublication.latestForDiscovery1801f9f2-5927-4817-a82f-3baa664d18e1
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