Published In

Advances in Economics, Business and Management Research

Document Type

Conference Proceeding

Publication Date



Corporate governance--Thailand


This study investigates the pay-performance relation for directors and managers in a sample of Thai public companies. It is hypothesized that family ownership mediates the pay-performance relations for directors and managers. The results show a strong link between managerial compensation and firm performance only for firms with low levels of family ownership. Conversely, there is a strong link between director compensation and firm performance only for firms with high levels of family ownership. The findings indicate that the relation between executive compensation and firm performance is more complex than previously documented.


Second International Conference on Economic and Business Management (FEBM 2017)

Copyright © 2017, the Authors. Published by Atlantis Press. This is an open access article under the CC BY-NC license (

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