Compensation management
(2023) FEKH89 20222Department of Business Administration
- Abstract (Swedish)
- Titel: Compensation management - en studie av det eventuella sambandet mellan
rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige
Seminariedatum: 2023-01-11
Kurs: FEKH89, Examensarbete i finansiering på kandidatnivå, 15 högskolepoäng
Författare: Edvin Melz, Gustaf Bülow, Peter Handrup
Handledare: Maria Gårdängen
Nyckelord: Earnings management, diskretionära periodiseringar, Modified Jones
Model, rörlig VD-ersättning, bolagsstyrning
Forskningsfråga: Vilket eventuellt samband finns mellan rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige?
Syfte: Syftet med denna studie är att ge kunskap om det eventuella sambandet mellan... (More) - Titel: Compensation management - en studie av det eventuella sambandet mellan
rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige
Seminariedatum: 2023-01-11
Kurs: FEKH89, Examensarbete i finansiering på kandidatnivå, 15 högskolepoäng
Författare: Edvin Melz, Gustaf Bülow, Peter Handrup
Handledare: Maria Gårdängen
Nyckelord: Earnings management, diskretionära periodiseringar, Modified Jones
Model, rörlig VD-ersättning, bolagsstyrning
Forskningsfråga: Vilket eventuellt samband finns mellan rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige?
Syfte: Syftet med denna studie är att ge kunskap om det eventuella sambandet mellan rörlig VD-ersättning och earnings management för bolag i Sverige samt bana väg för mer framtida forskning på detta område utifrån ett svenskt marknadsperspektiv.
Metod: Studien är kvantitativ med en deduktiv ansats. Datainsamling har skett via
Bloomberg Terminal samt bolags årsredovisningar. Modified Jones Model har använts för estimering av earnings management. En panelregression samt tvärsnittsregressioner för varje studerat år har sedan genomförts. Empirin består av 109 bolag som är noterade på OMX Stockholm Mid Cap eller OMX Stockholm Large Cap.
Teoretiskt perspektiv: Studien baseras främst på agentteorin och stewardshipteorin samt tidigare forskning om rörlig ersättning till ledande befattningshavare och earnings management. Forskning om den svenska modellen för bolagsstyrning används också.
Resultat: Studiens resultat visar att det inte finns något statistiskt signifikant samband mellan rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige. Tvärsnittsregressionerna för varje enskilt studerat år visar dock att studiens resultat inte är robusta.
Slutsats: Studien kan inte påvisa ett statistiskt signifikant samband mellan rörlig VD-ersättning som andel av total VD-ersättning och earnings management
för bolag i Sverige. (Less) - Abstract
- Title: Compensation management - a study of the potential relationship between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden
Seminar date: 2023-01-11
Course: FEKH89, Business Administration: Bachelor Degree Project in Financial
Management, Undergraduate Level, 15 credits (ECTS)
Authors: Edvin Melz, Gustaf Bülow, Peter Handrup
Advisor: Maria Gårdängen
Key words: Earnings management, discretionary accruals, Modified Jones Model,
variable CEO compensation, corporate governance
Research question: What potential relationship exists between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden?
Purpose:... (More) - Title: Compensation management - a study of the potential relationship between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden
Seminar date: 2023-01-11
Course: FEKH89, Business Administration: Bachelor Degree Project in Financial
Management, Undergraduate Level, 15 credits (ECTS)
Authors: Edvin Melz, Gustaf Bülow, Peter Handrup
Advisor: Maria Gårdängen
Key words: Earnings management, discretionary accruals, Modified Jones Model,
variable CEO compensation, corporate governance
Research question: What potential relationship exists between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden?
Purpose: The purpose of this study is to provide knowledge regarding the potential relationship between variable CEO compensation and earnings management for companies in Sweden as well as paving the way for more future research on this topic from a Swedish market perspective.
Methodology: The study is quantitative with a deductive approach. Data was collected using the Bloomberg Terminal and companies’ annual reports. The Modified Jones Model was used to estimate earnings management. A panel regression and cross-sectional regressions for each studied year were then performed. The empirical foundation consists of 109 companies listed on OMX Stockholm Mid Cap or OMX Stockholm Large Cap.
Theoretical perspectives: The study is mainly based on the agency theory and the stewardship theory as well as prior research about variable compensation to senior executives and earnings management. Research regarding the Swedish corporate governance model is also applied.
Results: The study’s results do not show a statistically significant relationship
between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden. The cross-sectional regressions based on each studied year show that the results are not robust.
Conclusions: The study cannot show that there is a statistically significant relationship between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9107404
- author
- Melz, Edvin LU ; Bülow, Gustaf LU and Handrup, Peter LU
- supervisor
- organization
- alternative title
- En studie av det eventuella sambandet mellan rörlig VD-ersättning som andel av total VD-ersättning och earnings management för bolag i Sverige
- course
- FEKH89 20222
- year
- 2023
- type
- M2 - Bachelor Degree
- subject
- keywords
- Earnings management, diskretionära periodiseringar, Modified Jones Model, rörlig VD-ersättning, bolagsstyrning
- language
- Swedish
- id
- 9107404
- date added to LUP
- 2023-01-23 09:13:54
- date last changed
- 2023-01-23 09:13:54
@misc{9107404,
abstract = {{Title: Compensation management - a study of the potential relationship between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden
Seminar date: 2023-01-11
Course: FEKH89, Business Administration: Bachelor Degree Project in Financial
Management, Undergraduate Level, 15 credits (ECTS)
Authors: Edvin Melz, Gustaf Bülow, Peter Handrup
Advisor: Maria Gårdängen
Key words: Earnings management, discretionary accruals, Modified Jones Model,
variable CEO compensation, corporate governance
Research question: What potential relationship exists between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden?
Purpose: The purpose of this study is to provide knowledge regarding the potential relationship between variable CEO compensation and earnings management for companies in Sweden as well as paving the way for more future research on this topic from a Swedish market perspective.
Methodology: The study is quantitative with a deductive approach. Data was collected using the Bloomberg Terminal and companies’ annual reports. The Modified Jones Model was used to estimate earnings management. A panel regression and cross-sectional regressions for each studied year were then performed. The empirical foundation consists of 109 companies listed on OMX Stockholm Mid Cap or OMX Stockholm Large Cap.
Theoretical perspectives: The study is mainly based on the agency theory and the stewardship theory as well as prior research about variable compensation to senior executives and earnings management. Research regarding the Swedish corporate governance model is also applied.
Results: The study’s results do not show a statistically significant relationship
between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden. The cross-sectional regressions based on each studied year show that the results are not robust.
Conclusions: The study cannot show that there is a statistically significant relationship between variable CEO compensation as a part of total CEO compensation and earnings management for companies in Sweden.}},
author = {{Melz, Edvin and Bülow, Gustaf and Handrup, Peter}},
language = {{swe}},
note = {{Student Paper}},
title = {{Compensation management}},
year = {{2023}},
}