| dc.rights.license | CC-BY-NC-ND | |
| dc.contributor.advisor | Montone, Maurizio | |
| dc.contributor.author | Tzakis, Ioannis | |
| dc.date.accessioned | 2024-09-01T23:02:17Z | |
| dc.date.available | 2024-09-01T23:02:17Z | |
| dc.date.issued | 2024 | |
| dc.identifier.uri | https://studenttheses.uu.nl/handle/20.500.12932/47612 | |
| dc.description.abstract | In recent years, it has been apparent that more and more investors consider nonmonetary values when constructing their portfolios. Many firms set large wage differentials between workers and managers, with the former sometimes suffering from what is known as behindness aversion. Subsequently, pro-social investors might shun these companies, since they might exhibit income inequality. However, quite low wage differentials might be unfair for the managers and they can also be viewed as low salary
growth expectations by employees, insinuating that there might be an optimal wage gap. In four dependent variables employed in this survey I find that the relationship between the pay ratio and institutional ownership is a concave across US listed firms, with the optimal pay ratio being situated at the 35th percentile of the pay ratio distribution. | |
| dc.description.sponsorship | Utrecht University | |
| dc.language.iso | EN | |
| dc.subject | This paper examines the way the pay ratio is perceived in the market place. That is, it tests if the relationship between the pay ratio and four dependent variables is linear or concave. | |
| dc.title | The perception of the pay ratio | |
| dc.type.content | Master Thesis | |
| dc.rights.accessrights | Open Access | |
| dc.subject.keywords | pay ratio/concavity/institutional ownership/optimal/year fixed effects | |
| dc.subject.courseuu | Financial Management | |
| dc.thesis.id | 37955 | |
