The Comprehensive Examination of the Effect of CEO Compensation in TSX/S&P Index Companies

This research study in executive compensation investigated the effect of firm ownership on CEO compensation in Toronto Stock Ex- change (TSX/S&P) companies. It had compared the CEO compensation system of owner-managed and management-controlled companies from 2005 to 2010. The research question for this study was: is there a relationship between CEO compensation, firm size, accounting firm per- formance, and corporate governance, among owner and management-controlled companies?. It was found that, there was a relationship be- tween CEO compensation, firm size, accounting performance, and corporate governance, except for the relationship between CEO bonus and corporate governance in management-controlled companies. The correlations between CEO compensation, firm size, accounting performance, and corporate governance among owner and management-controlled companies were ranged from weak negative to strong positive ratios. .