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Mir, Ahmed (2012) An assessment of firm efficiency and the link to executive pay: A study of UK building societies. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

This study utilises an unbalanced panel data set of 41 U.K building societies from 1998 to 2011, examining the relationship between cost efficiency and CEO salary. Using maximum-likelihood I estimate the parameters of a stochastic cost frontier under a transcendental logarithmic functional form. The stochastic frontier analysis finds that on average building societies in the sample operate with a mean cost inefficiency of 18%. The latter stages of the investigation involve a regression analysis, which estimates the correlation between the cost efficiency of a smaller sample of building societies and CEO salary. Ultimately, the evidence presented in this paper finds that efficiency does not have a statistically significant impact on CEO remuneration but firm size has a substantial influence on executive pay levels.

Item Type:	Dissertation (University of Nottingham only)
Depositing User:	EP, Services
Date Deposited:	04 Apr 2013 14:22
Last Modified:	19 Oct 2017 13:10
URI:	https://eprints.nottingham.ac.uk/id/eprint/25876

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