Abstract

MARLON KONRAHT, JONATAN; JOAO LUNKES, ROGÉRIO; GASPARETTO, VALDIRENE  and  SCHNORRENBERGER, DARCI. Variable remuneration, a study of its relations hip with the brazilian companies financial indicators listed on the stock market. Rev.fac.cienc.econ. [online]. 2018, vol.26, n.1, pp.209-224. ISSN 0121-6805.  https://doi.org/10.18359/rfce.1781.

The variable remuneration to managers is used in order to align the interests of managers and owners, contributing to improve organizational performance. In this context, this study aims to identify if the percentage of variable remuneration granted to managers is related to organizational performance. For this purpose, 75 non-financial companies that integrate the Brazil Index (IBrX 100) in the period between 2010 and 2014 were analyzed for a total of 352 observations. The data were collected from the reference form and analyzed using the Economatica® software by regression with panel data. The results indicate that there is no statistically significant relationship between the percentage offered of variable remuneration and organizational performance. The practical implication of this finding is that for the analyzed sample, the assignment of a higher percentage of variable remuneration does not generate a direct impact on the economic and financial performance of the organizations.

Keywords : Remuneration; Performance; Financial indicators; Brazil.

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