| Abstract [eng] |
Shareholders hire CEOs so that they would maximize the value of their companies and would take responsibility of the growth and protection of invested funds. But CEOs are people, so it is natural that they tend to engage more in activities that increase their own value in the labor market and increase personal finances. The reconciliation of the interests of both sides - shareholders and CEOs - manifests through the CEO's reward design, which continuously faces contradictions, and it seems that everybody has an opinion on how to \"resolve\" the riddle of efficiency, equity and attractiveness of the CEO's reward design. A tireless public attention to CEO's pay rates is shifting our focus from real problem –most important point is not how much, but how CEOs are paid for their work and the value created. Those responsible for CEO's reward design strategy face the complexity of the CEO's reward design, as for the CEO who has the highest decision-making position in the company, the design of paid reward should reflect unique opportunities, individual value and contribution to the company's financial success. This area is still lacking a thorough reseach and systematic data on what determinants infuence CEO‘s reward design and the reasons why one or another element in the CEO's reward design is included. Most of the research is carried out in the area of factors influencing the CEO's reward, and the studies related to CEO's reward design are fragmented, often deepening the validity and impact of the individual CEO's reward design elements. This situation prevents us from revealing the complexity of CEO's reward design theme. Scientific literature lacks generalized information on the theme of derterminants of CEO's reward design. Based on the arguments given, expectations raised in this work are to investigate the determinants of CEO's reward design and an assumption is made for additional research capabilities. Object – determinants of CEOs reward design. Goal - to identify determinants of the CEO's reward design. The following tasks are needed to be done in order to achieve the goal: 1. To disclose the concept of CEO's reward design by presenting elements that make up the CEO's reward design. 2. To theoretically justify determinants of CEO's reward design by formulating a conceptual model 3. To examine empirically the determinants of the CEO's reward. 4. To provide a revised model of determinants of the CEO's reward design. Results: based on the qualitative research and it‘s results, assumptions were confirmed and the theoretical model was specified with addition of new elements of CEOs reward design and determinants of CEOs reward design. The research that was carried out deepened an understanding that CEOs reward design is a subject of agreement that requires systemic and complex approach among shareholders and CEOs. |
