The determinants of managerial compensation in the Libyan business context

Sufrani, Mohammed F. (2011) The determinants of managerial compensation in the Libyan business context. PhD thesis, University of Gloucestershire.

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Recently, the issue of corporate governance in general, and the role of managerial compensation in particular, have received increased attention from the media, governments and the business arena. This study add to our understanding of both the categories and determinants of Libyan compensation packages for the top executives that have not been previously examined. This has taken place in three main pathways: First, the study is an attempt to explain how remuneration theories (agency and managerial power theories) are interpreted within a developing economy that uses only cash compensation to motivate managers to act rationally towards the wealth they manage. Second, in addition to the chief executive officer (CEO), this research takes into account the determinants of a range of senior managers within corporations from the state-owned sector (financial and non-financial initiations) and the private sector ( financial and non-financial initiations). Managerial compensation of the level below the CEO's level has not reached sufficient attention, as it is the case with CEO's pay, even within the developed economies. Finally, in developing hypotheses concerning elements supposed to affect managerial compensation, this research reconciles the views presented by agency theory and managerial power theory in terms of how they provide similar and dissimilar proportions. This study examines base salary, cash bonus and total pay of CEOs and non-CEO executives for a sample of 41 companies during the period 2003-2008. In order to explain the level of managerial compensation, the model used in this study combines measures of firm economic characteristics, governance and monitoring characteristics, and ownership characteristics. The study expands analysis beyond the CEO to include an investigation of the structure and determinants of remuneration of the top 5 senior managers, in addition to the CEO.

Item Type: Thesis (PhD)
Thesis Advisors:
Thesis AdvisorEmailURL
Additional Information: A print copy of the thesis is available for reference use only.
Uncontrolled Keywords: Remuneration theory; Managerial compensation packages, Libya; Performance-related pay; CEO remuneration packages
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Subjects: H Social Sciences > HF Commerce > HF5001 Business > HF5549 Personnel management. Employment management
Divisions: Schools and Research Institutes > Gloucestershire Business School
Depositing User: Susan Turner
Date Deposited: 16 Dec 2021 12:58
Last Modified: 16 Dec 2021 12:58

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