Forthcoming and Online First Articles

International Journal of Family Business and Regional Development

International Journal of Family Business and Regional Development (IJFBRD)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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International Journal of Family Business and Regional Development (1 paper in press)

Regular Issues

  • Founder-CEO compensation in Canada: rent extraction or optimal contracting?   Order a copy of this article
    by Yves Bozec, Jackie Di Vito 
    Abstract: This study compares the compensation of founder-CEOs to that of professional CEOs, based on two theoretical approaches, optimal contracting and managerial power. We argue and show that excess voting rights are a key determinant in understanding the level and composition of founder-CEO compensation. Our findings show that the compensation of founder-CEOs without excess voting rights is generally lower than that of professional CEOs. However, in the presence of excess voting rights, founder-CEOs grant themselves significantly higher risk-free cash-based compensation than what is granted to a professional CEO, thus supporting the managerial power hypothesis.
    Keywords: founder; CEO compensation; excess voting rights; corporate governance; family firms; agency theory; ownership; Canada.