126514 20241125101134.0 doi 10.1108/BJM-09-2022-0354 sideral 133923 ART-2023-133923 eng Acero, Isabel Universidad de Zaragoza (orcid)0000-0001-5068-8438 The composition of the remuneration committee and the vertical pay gap: the role of proprietary directors in Spain 2023 Access copy available to the general public Unrestricted Purpose This study investigates whether the proportion of proprietary directors (blockholders or their representatives) on the board's remuneration committee influences vertical pay inequality in Spanish listed companies and whether this relationship can be conditioned by the concentration of ownership. Design/methodology/approach The sample contains information on the individual compensation of 1048 directors of 57 Spanish listed firms during the period 2013–2018 making up an unbalanced panel with 3565 observations. Panel data regressions are used to study how the presence of proprietary directors on the remuneration committee influences the remuneration of directors, focusing not on their absolute remuneration levels, but rather on their relationship to the average remuneration of the organization's employees (as a measure of vertical pay inequality within the company). The authors also investigate whether this relationship is conditioned by firm ownership concentration. Findings The results indicate that the presence of proprietary directors on the remuneration committee acts as a mechanism to reduce vertical pay inequality, even in the context of high ownership concentration. Originality/value Unlike the majority of previous research dedicated to the independence of the remuneration committee, this study focuses on the role played by proprietary directors. The results help elucidate the importance of proprietary directors to properly monitor and restrain directors' compensation in contexts of high ownership concentration. info:eu-repo/grantAgreement/ES/DGA-FEDER/S52-20R info:eu-repo/grantAgreement/ES/MICINN/PID2021-123154NB-I00 info:eu-repo/semantics/openAccess by-nc http://creativecommons.org/licenses/by-nc/3.0/es/ 2.4 2023 MANAGEMENT 217 / 407 = 0.533 2023 Q3 T2 0.741 2023 Business and International Management 2023 Q2 Management of Technology and Innovation 2023 Q2 Strategy and Management 2023 Q2 Organizational Behavior and Human Resource Management 2023 Q2 Marketing 2023 Q2 5.4 2023 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Alcalde, Nuria Universidad de Zaragoza (orcid)0000-0003-4767-913X 4012 650 Universidad de Zaragoza Dpto. Direcc.Organiza.Empresas Área Organización de Empresas 18, 3 (2023), 386-401 BALTIC JOURNAL OF MANAGEMENT Baltic Journal of Management 1746-5265 395376 http://zaguan.unizar.es/record/126514/files/texto_completo.pdf Postprint 1803788 http://zaguan.unizar.es/record/126514/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:126514 articulos driver 2024-11-22-12:00:17 ARTICLE