engleski

The patterns of top management remuneration: does foreign vs domestic ownership make a difference?

Top management compensation is considered among most important mechanisms to align interests of managers and company owners. This paper presents results of an explorative study of top management remuneration in Croatian companies. The aim of the research was to determine the impact of ownership origin, domestic or foreign, on top management remuneration practices. Top rated determinant of top management remuneration in Croatian companies is manager’s personal characteristic. Statistically significant differences were found between domestic and foreign owned companies with the determinant position attractiveness. Several differences were found with respect to the usage of different forms of compensation. Foreign owned firms provide annual bonus, long term compensation and additional benefits at higher percentages of top managers than domestically owned companies. Domestically owned companies provide annual bonuses at higher ratios towards base pay compared to foreign owned companies and position managerial pay at higher levels compared to foreign owned firms.

compensation, post-transition countries, top management

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