En ny modell för vd-ersättningsdesign : En jämförande studie om vad som påverkar svenska börsbolags vd-ersättningsstrukturer

Sammanfattning: Background: We know too little about the structure of CEO remuneration and therefore need to conduct more studies and develop new models to create better optimized CEO compensation packages so that companies can perform better. This study therefore focuses more on what the CEO compensation structure looks like and what explains it rather than on the amounts which the CEO receives. Since the amounts depend on the composition of CEOs' cash and equity-based compensation. To manage endogenous bonuses in the CEO remuneration structure, a new model consisting of two dependent variables dealing only with cash and stock-based CEO remuneration. In this way, more variables could be studies and compared in a new way by both sides of the CEO remuneration structure. Purpose: The purpose of the study is to investigate variables that affect CEO compensation structure by using a new model. Method: Using a deductive cross-sectional method, the study starts from theory to reach revised theory by means of hypotheses. The dataset came from the sample of 70 Swedish listed companies’ annual reports (2019-01-01-2019-12-31) based on five of Nasdaq's index listings. The sample consisted of firms who had both cash and stock-based compensation. Using multiple linear regression, both models of the model could examine variables and show results. Conclusion: The result showed that five variables had statistically significant relationships in both multiple regressions of the model and all seven independent variables including the control variable. In addition, the examined variables showed statistically significant correlation with at least one other variable. The model may help to examine more variables with statistically significant correlations as a result. It is already clear that Swedish boards and remuneration committees need to do more to better link the CEO remuneration structure to company performance. Instead, ROE showed a strong correlation with sector, indicating that firm performance has more in common with sectors than with CEO compensation structure.