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Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics

Mohamed Elmagrhi Orcid Logo, Collins G Ntim Orcid Logo

Work, Employment and Society, Pages: 095001702211113 - 34

Swansea University Author: Mohamed Elmagrhi Orcid Logo

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DOI (Published version): 10.1177/09500170221111366

Abstract

This paper investigates the association between UK higher education institutions (HEIs) long- and short-term performance measures, and the pay of vice-chancellors/principals (VCs) in an era of intense neoliberalism/financialisation of HEIs, and consequently ascertains the extent to which the VC pay–...

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Published in: Work, Employment and Society
ISSN: 0950-0170 1469-8722
Published: SAGE Publications 2022
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URI: https://cronfa.swan.ac.uk/Record/cronfa60172
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first_indexed 2022-06-10T07:29:54Z
last_indexed 2023-01-11T14:41:58Z
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spelling v2 60172 2022-06-10 Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics 4def956b7e2d996ad0bfbfcb710b7ef6 0000-0003-3803-8496 Mohamed Elmagrhi Mohamed Elmagrhi true false 2022-06-10 BAF This paper investigates the association between UK higher education institutions (HEIs) long- and short-term performance measures, and the pay of vice-chancellors/principals (VCs) in an era of intense neoliberalism/financialisation of HEIs, and consequently ascertains the extent to which the VC pay–performance nexus is moderated by VC characteristics. Using a longitudinal sample of UK HEIs, our baseline findings suggest that HEIs that prioritise meeting long-term social performance targets tend to pay their VCs low pay packages, whilst HEIs that focus on achieving short-term reputational performance targets pay their VCs high pay packages. We show further that the VC pay–performance relationship is moderated/explained largely by VC characteristics. Our findings are robust to controlling for alternative governance mechanisms, endogeneities, alternative performance measures and different estimation techniques. Our findings offer empirical support for optimal contracting and prestige theories with significant implications for the sector. Journal Article Work, Employment and Society 095001702211113 34 SAGE Publications 0950-0170 1469-8722 Vice-Chancellor/Principal pay, Performance, Vice-Chancellor/Principal characteristics, Governance, Financialisation/Neoliberalism, HEIs, Prestige theory, UK 7 10 2022 2022-10-07 10.1177/09500170221111366 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University Not Required 2023-09-20T11:09:25.4631791 2022-06-10T08:01:15.1852096 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Mohamed Elmagrhi 0000-0003-3803-8496 1 Collins G Ntim 0000-0002-1042-4056 2 60172__25820__dd9ae624a96b41919feb58fe1f7a67d1.pdf 60172.pdf 2022-11-17T15:12:37.2368041 Output 197362 application/pdf Version of Record true © The Author(s) 2022. This article is distributed under the terms of the Creative Commons Attribution 4.0 License true eng https://creativecommons.org/licenses/by/4.0/
title Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
spellingShingle Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
Mohamed Elmagrhi
title_short Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
title_full Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
title_fullStr Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
title_full_unstemmed Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
title_sort Vice-Chancellor Pay and Performance: The Moderating Effect of Vice-Chancellor Characteristics
author_id_str_mv 4def956b7e2d996ad0bfbfcb710b7ef6
author_id_fullname_str_mv 4def956b7e2d996ad0bfbfcb710b7ef6_***_Mohamed Elmagrhi
author Mohamed Elmagrhi
author2 Mohamed Elmagrhi
Collins G Ntim
format Journal article
container_title Work, Employment and Society
container_start_page 095001702211113
publishDate 2022
institution Swansea University
issn 0950-0170
1469-8722
doi_str_mv 10.1177/09500170221111366
publisher SAGE Publications
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 1
active_str 0
description This paper investigates the association between UK higher education institutions (HEIs) long- and short-term performance measures, and the pay of vice-chancellors/principals (VCs) in an era of intense neoliberalism/financialisation of HEIs, and consequently ascertains the extent to which the VC pay–performance nexus is moderated by VC characteristics. Using a longitudinal sample of UK HEIs, our baseline findings suggest that HEIs that prioritise meeting long-term social performance targets tend to pay their VCs low pay packages, whilst HEIs that focus on achieving short-term reputational performance targets pay their VCs high pay packages. We show further that the VC pay–performance relationship is moderated/explained largely by VC characteristics. Our findings are robust to controlling for alternative governance mechanisms, endogeneities, alternative performance measures and different estimation techniques. Our findings offer empirical support for optimal contracting and prestige theories with significant implications for the sector.
published_date 2022-10-07T11:09:22Z
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score 10.997956

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