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SUMMARY: Trends\, Determinants\, and Effects of ESG-linked Pay around the 
 World - Professor Lin Peng\, Faculty of Economics\, Cambridge
DTSTART:20220127T130000Z
DTEND:20220127T140000Z
UID:TALK168455@talks.cam.ac.uk
CONTACT:Laura Pellegrini
DESCRIPTION:Explicit ESG-linked executive remuneration contracts (ESG-link
 ed pay) are a way of incorporating ESG goals such as CO2 emission targets 
 or employee satisfaction in managerial incentives.  We conduct a large-sca
 le global study of ESG-linked pay for 2\,772 firms across 48 countries ove
 r the period of 2009-2018. We find that the adoption of ESG-linked pay is 
 higher for firms in extractive and utility industries\, firms located in F
 rench civil law countries\, or countries with stronger shareholder protect
 ions\, lower corruption\, higher individualism\, and low masculinity\, as 
 well as for large firms or value firms. The adoption of ESG-linked pay is 
 positively associated with a firm’s financial outcomes as well as the fi
 rm’s ESG scores. These results provide insights into the determinants of
  such pay practice and its implications on firms financial and ESG perform
 ances.\n
LOCATION:King Richard Room\, Darwin College
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