Family-member CEOs of family-controlled firms receive lower total income than outsider CEOs, increasingly so as family ownership concentration increases. At the same time, their pay tends to be more insulated from risk and more sensitive to systematic (less controllable) business risk. The presence of institutional investors and R&D intensity play important moderating roles in these relationships.
ASJC Scopus subject areas
- Business and International Management
- Business, Management and Accounting(all)
- Strategy and Management
- Management of Technology and Innovation