Ceo Compensation
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Indispensable And Other Myths
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Author : Michael Dorff
language : en
Publisher: Univ of California Press
Release Date : 2014-08-01
Indispensable And Other Myths written by Michael Dorff and has been published by Univ of California Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-01 with Political Science categories.
Prodded by economists in the 1970s, corporate directors began adding stock options and bonuses to the already-generous salaries of CEOs with hopes of boosting their companiesÕ fortunes. Guided by largely unproven assumptions, this trend continues today. So what are companies getting in return for all the extra money? Not much, according to the empirical data. In Indispensable and Other Myths: Why the CEO Pay Experiment Failed and How to Fix It, Michael Dorff explores the consequences of this development. He shows how performance pay has not demonstrably improved corporate performance and offers studies showing that performance pay cannot improve performance on the kind of tasks companies ask of their CEOs. Moreover, CEOs of large established companies do not typically have much impact on their companiesÕ results. In this eye-opening exposŽ, Dorff argues that companies should give up on the decades-long experiment to mold compensation into a corporate governance tool and maps out a rationale for returning to the era of guaranteed salaries.
Fairness Of Ceo Compensation
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Author : Mehtap Aldogan Eklund
language : en
Publisher: Springer Nature
Release Date : 2019-12-05
Fairness Of Ceo Compensation written by Mehtap Aldogan Eklund and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-05 with Business & Economics categories.
Executive compensation and its fairness to stakeholders are topics of heated debate on platforms ranging from news forums to financial markets. This book stimulates critical thinking on executive compensation and guides academics and practitioners on the key concepts by developing a multi-faceted and multi-cultural framework. It also presents the new ‘Fair CEO Compensation,’ which uses a scientifically developed and structured stakeholder-based approach to reach optimal and fair CEO compensation, without capping bonuses or variable pay by rules and regulations. Financial, non-financial, organizational, strategic, cultural, personal, and social aspects are all taken into account in the framework. In addition to implementation guidelines and real-world examples, the book presents a checklist for businesses to measure the fairness of their CEO compensation based on the suggested framework. Moreover, the author also provides a survey template to help businesses investigate their employees’ perception of the fairness of their CEO’s compensation.
The Ceo Pay Machine
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Author : Steven Clifford
language : en
Publisher: Penguin
Release Date : 2017-05-09
The Ceo Pay Machine written by Steven Clifford and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-09 with Business & Economics categories.
The former top CEO examines the scandalous and corrupt reasons behind obscene pay packages for corporate executives—and explains how this hurts all of us--and how we can stop it. Today, the pay gap between chief executive officers of major U.S. firms and their workers is higher than ever before—depending on the method of calculation, CEOs get paid between 300 and 700 times more than the average worker. Such outsized pay is a relatively recent phenomenon, but despite all the outrage, few detractors truly understand the numerous factors that have contributed to the dizzying upward spiral in CEO compensation. Steven Clifford, a former CEO who has also served on many corporate boards, has a name for these procedures and practices— "The CEO Pay Machine." The CEO Pay Machine is Clifford's thorough and shocking explanation of the 'machine'--how it works, how its parts interact, and how every step pushes CEO pay to higher levels. As Clifford sees it, the payment structure for CEOs begins with shared delusions that reinforce one other: Once this groupthink is accepted as corporate dogma, it becomes infinitely harder to see any decision as potentially irrational or dysfunctional. Yet, as Clifford notes, the Pay Machine has caused immeasurable harm to companies, shareholders, economic growth, and democracy itself. He uses real-life examples of the top four CEOs named the highest paid in 2011 through 2014. Clifford examines how board directors and compensation committees have directly contributed to the rising salaries and bonuses of the country's richest executives; what's more, Clifford argues, each of those companies could have paid their CEOs 90 percent less and performed just as well. Witty and infuriating, The CEO Pay Machine is a thorough and incisive critique of an economic issue that affects all American workers.
An Introduction To Executive Compensation
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Author : Steven Balsam
language : en
Publisher: Academic Press
Release Date : 2002
An Introduction To Executive Compensation written by Steven Balsam and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason that The Wall Street Journal, Fortune, Forbes, and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason - executives need incentives in order to maximize firm value (economists call this agency theory) - it also describes the nature and design of executive compensation practices. Those incentives can take the form of benefits (salary, stock options), or prerquisites (reflecting the status of the executive within the organizational culture.
A Principled Approach To Ceo Compensation And Contracts
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Author : Michael Dennis Graham
language : en
Publisher: Lulu.com
Release Date : 2019-01-09
A Principled Approach To Ceo Compensation And Contracts written by Michael Dennis Graham and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-09 with Business & Economics categories.
In this book we make the case for the genesis of the problem being that many CEOs are not operating under a ?fair and reasonable value exchange? with the organization that they work for, and that there are very clear reasons why that is the case. We know you will gain insight from this book finding new ways to view, consider, and reframe your approach to CEO (and other executive) employment relationships consisting of compensation programs and contracts using the all-important concept of value exchange. This book reveals a Principled Approached developed by consultants of Grahall, LLC, guiding the reader through the use of appropriate tools and well thought out processes, for a uniquely effective result.
Ceo Pay And Firm Performance
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Author : Paul L. Joskow
language : en
Publisher:
Release Date : 1994
Ceo Pay And Firm Performance written by Paul L. Joskow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Chief executive officers categories.
This study explores the dynamic structure of the pay-for- performance relationship in CEO compensation and quantifies the effect of introducing a more complex model of firm financial performance on the estimated performance sensitivity of executive pay. The results suggest that current compensation responds to past performance outcomes, but that the effect decays considerably within two years. This contrasts sharply with models of infinitely persistent performance effects implicitly assumed in much of the empirical compensation literature. We find that both accounting and market performance measures influence compensation and that the salary and bonus component of pay as well as total compensation have become more sensitive to firm financial performance over the past two decades. There is no evidence that boards fail to penalize CEOs for poor financial performance or reward them disproportionately well for good performance. Finally, the data suggest that boards may discount extreme performance outcomes -both high and low - relative to performance that lies within some `normal' band in setting compensation.
Pay Without Performance
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Author : Lucian Bebchuk
language : en
Publisher:
Release Date : 2004-11-22
Pay Without Performance written by Lucian Bebchuk and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-11-22 with Business & Economics categories.
A powerful critique of executive compensation and corporate governance, "Pay Without Performance" points the way to restoring corporate integrity and improving corporate performance.
Ceo Compensation In The Post Enron Era
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Author :
language : en
Publisher: DIANE Publishing
Release Date :
Ceo Compensation In The Post Enron Era written by and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Firm Diversification And Ceo Compensation
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Author : Nancy L. Rose
language : en
Publisher:
Release Date : 1994
Firm Diversification And Ceo Compensation written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Chief executive officers categories.
Data for a sample of 558 CEOs over 1985-1990 suggest substantial compensation premia for managers of diversified firms. The CEO of a firm with two distinct lines of business averages 10 to 12 percent more in salary and bonus and 13 to 17 percent more in total compensation than the CEO of a similar-sized but undiversified firm, all else equal. This corresponds to average 1990 salary gains of $115,000 to $145,000 per year for our sample. Diversification may raise pay because the CEO's job requires higher ability or because it is associated with CEO entrenchment. If ability explains the correlation, we would expect the diversification premium to be invariant to tenure. Entrenchment models suggest higher premia for more experienced (more entrenched) CEOs, and an increase in compensation when the CEO diversifies the firm. The data support an ability model over an entrenchment explanation. The diversification premium is unaffected by tenure, and increasing diversification reduces compensation for incumbent CEOs, all else equal.
Chief Executive Officer Compensation
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Author : Carola Frydman
language : en
Publisher:
Release Date : 2010
Chief Executive Officer Compensation written by Carola Frydman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Chief executive officers categories.