Executive remuneration is considered among most important mechanisms to align interests of managers and company owners. This paper examines the role of company ownership as a determinant of top management compensation. The aim of the research was to determine the impact of ownership origin, domestic or foreign, on top management remuneration practices in a post-transition economy country. The research is based on a survey of top management remuneration practices among 60 medium and large sized Croatian companies. Research results indicate that foreign owned companies provide more annual bonuses, long-term compensation and additional benefits to higher percentages of top managers than domestically owned companies. Companies with domestic owners provide annual bonuses at higher ratios of base pay compared to foreign owned companies and position managerial pay at higher levels relative to comparative firms in the sector with foreign owners. Top managers, investors and firm owners should be aware that in post-transition economies compensation practices greatly differ between domestic and foreign owned companies.

中文翻译：

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转型后经济中的高层管理人员薪酬：公司所有权是否有所作为？

高管薪酬被认为是使经理和公司所有者的利益保持一致的最重要机制之一。本文研究了公司所有权作为高层管理人员薪酬的决定因素的作用。该研究的目的是确定所有权来源，无论是国内还是国外，对过渡后经济国家高管薪酬惯例产生影响。该研究基于对60家克罗地亚大中型公司最高管理人员薪酬惯例的调查。研究结果表明，与内资公司相比，外资公司向更高比例的高层管理人员提供更多的年度奖金，长期薪酬和额外的福利。拥有外资企业的公司提供的年度奖金比基础外资公司的基本工资要高，相对于拥有外资企业的公司而言，职位管理人员的薪酬要高得多。高层管理人员，投资者和公司所有者应意识到，在过渡后经济时期，国内外公司之间的薪酬惯例大不相同。