Workshop Series: Zoltan Matolcsy

2 March, 2012 - 10:30 to 12:00
Room 430 Joyce Ackroyd Building 37

Abstract:

There is an emerging literature that examines the impact of gender-diverse boards. This study provides evidence on the association between gender-diverse compensation committees and CEO pay and whether the association between predicted excess compensation and firm performance is different for firms with and without a gender-diverse compensation committee. Using a sample of 6,700 U.S. firms between 2003 and 2008 we find that gender-diverse compensation committees are associated with lower CEO salaries, bonuses and total compensation. Further, our results indicate that predicted excess compensation of CEOs is associated with negative accounting and market based performance for firms with an all-male compensation committee but not for firms with a gender-diverse compensation committee. These findings indicate that gender-diverse compensation committees are associated with more 'optimal' CEO compensation contracting.

Professor Zoltan Matolcsy, Professor of Accounting, University of Technology Sydney

Zoltan Matolcsy teaches primarily at the postgraduate level, specialising in empirical research in the areas of accounting for managerial decisions, capital markets and contracting theory. His research has been published in leading accounting journals nationally and internationally, including the Journal of Accounting Research, Contemporary Accounting Research, Journal of Banking and Finance, Journal of Business Finance and Accounting and Accounting and Finance. Zoltan was a pioneer in Australian financial studies modelling corporate failures, takeovers and mergers, investment and portfolio management, and risk assessment. His recent research has addressed current issues in corporate disclosure, corporate governance and valuations.

Before his academic career, Zoltan was Chief Investment Analyst at the Australian Stock Exchange. He has undertaken consulting assignments for a wide range of firms, from large public companies to small privately owned entities, government business enterprises and public instrumentalities. His recent consultancies include GIO Australia, Johnson & Johnson, and Optus.