英文摘要 |
The name of “fat cat” seems to be heavy for director or supervisor. In this study we explore whether the remuneration of the directors and supervisors is affected by board characteristics or external monitoring forces. With an sample of listed companies in Taiwan from 2005 to 2015, we find that the remuneration of directors and supervisors is positively related to firm performance and board size, but negatively related to number of independent directors and CEO-Board chair. We also found a positive relationship between the directors' share mortgage ratio and remuneration in family firms. The external monitoring power has no significant effect on the remuneration of directors in family firms, but will suppress the remuneration of directors in non-family firms. |