Institutionella investerare - aktiva ägare eller passiva förvaltare?
En studie av hur institutionellt ägande påverkar ersättningar till ledande befattningshavare i Sverige
InstitutionInstitutional ownershipCEO compensationVariable compensationFixed salarySwedenInstitutionInstitutionellt ägandeVD-lönLönestorlekLönestrukturSverige
The purpose of this thesis is to examine whether institutional ownership has an influence on CEO compensation in companies where the institutions have invested. In order to fulfil the purpose of the thesis a quantitative study was carried out within the Swedish corporate context where we have studied Swedish institutional investors and companies quoted on the Stockholm Stock Exchange. Our period of study was the financial year of 2007.The empirical questions at issue is; Was there a connection between Swedish institutional ownership and the size of the CEO compensation, and, does Swedish institutional ownership lead to a certain type of CEO compensation in terms of structure?Our results did not suggest that an increased institutional ownership neither leads to a certain type of salary level nor a certain kind of salary structure. These results contradict earlier American research, which has been done within this area and has previously shown a secured connection.The reasons for our results may be many and it is difficult to state any concrete conclusions to why we received differing results. Based on our results we can only state that institutional ownership is not decisive for the formation of CEO compensation. It remains for future research to disprove the results of this study.