Explaining Executive Pay
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Explaining Executive Pay
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Author : Lukas Hengartner
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-12-31
Explaining Executive Pay written by Lukas Hengartner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-31 with Business & Economics categories.
Lukas Hengartner shows that both firm complexity and managerial power are associated with higher pay levels. This suggests that top managers are paid for the complexity of their job and that more powerful top managers receive pay in excess of the level that would be optimal for shareholders.
Understanding Executive Compensation And Governance A Practical Guide
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Author : Irving S. Becker
language : en
Publisher: Worldatwork
Release Date : 2021-06-30
Understanding Executive Compensation And Governance A Practical Guide written by Irving S. Becker and has been published by Worldatwork this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-30 with Business & Economics categories.
Getting executive compensation right is not an easy task. Finding the appropriate compensation plan to incentivize executives and drive corporate performance is an annual challenge for corporate boards. There is a myriad of factors at play. Boards must balance the need to incentivize individuals, keep compensation costs reasonable, maintain internal equity, and manage shareholder value. While directors wrestle with these factors, matters are made all the more difficult given the scrutiny executive pay now faces by shareholders, legislators, interest groups and the media. In other words, compensating executives has never been more complex. Understanding Executive Compensation & Governance demystifies each component of pay and serves as a go-to resource for individuals in and out of the boardroom. This edition explores the full scope of executive pay, with topics ranging from setting a pay philosophy to arranging deferred compensation programs. This book also covers new and emerging trends in compensation, such as the rise of ESG, the expanding role of the compensation committee, and the use of relative metrics in incentive programs. International compensation is also included with sections on Australia, Canada, France, Germany, Japan, the Netherlands, and the United Kingdom. The carefully selected and organized chapters address the basic areas affecting executive compensation. This book synthesizes current knowledge and best practices through a collection of articles, with relevant discussions on the advantages and disadvantages of certain pay decisions. Readers have easy access to a wide range of executive pay issues that are especially pertinent in the current debate on the topic. Relevant to any type of company, whether publicly or privately held, Understanding Executive Compensation & Governance is a must-read for any professional responsible for crafting or overseeing executive pay programs.
The Complete Guide To Executive Compensation
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Author : Bruce R. Ellig
language : en
Publisher: McGraw Hill Professional
Release Date : 2001-11-22
The Complete Guide To Executive Compensation written by Bruce R. Ellig and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-11-22 with Business & Economics categories.
Strategies for gaining a powerful edge in the executive talent wars The competition for executive talent is fierce, making it imperative that executive compensation programs become an integral part of every company's strategic business plan. The Complete Guide to Executive Compensation provides in-depth coverage of current issues and trends in designing and administering executive compensation packages that are strategically, economically, and culturally sound. Renowned compensation and benefit expert Bruce Ellig begins by providing guidance for board members and company executives on defining a company's organization, culture, and business strategy, in order to establish a framework for executive compensation. He then discusses the often difficultbut essentialissues within that framework, including: Pay positioningrelative to the competitive environment Risk profilethe mix of salary, incentive compensation, and benefits Leveragethe relationship between incentive plan payouts and performance Timingthe mix of short- versus long-term incentive programs Incentive plan designobjectives, performance measures, and participation
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.
Explaining Pay Without Performance
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Author : Iman Anabtawi
language : en
Publisher:
Release Date : 2008
Explaining Pay Without Performance written by Iman Anabtawi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
After only a brief hiatus in the wake of the stock market downturn of 2000, Chief Executive Officer (CEO) pay levels have resumed their upward trajectory. In response, many influential shareholders and academics are asking the question: Are the executive compensation arrangements we observe examples of optimal contracting between CEOs and the boards of directors of the firms they manage, according to which executives are rewarded for enhancing shareholder value? Or do such arrangements indicate a corporate governance failure, whereby CEOs exercise so much influence over boards that managers are effectively setting their own pay? The foregoing accounts - optimal contracting and managerial power, respectively - dominate current explanations of how executive pay is structured. In this Article, I demonstrate that neither explains adequately observed executive pay arrangements. Instead, I turn to the paradigm of tournament theory-in which CEO pay is a prize awarded to the winner of a competition to get to the top of the corporate ladder; to illuminate the structure of executive pay. Introducing tournament theory into the mix of how firms motivate their CEOs can explain features of CEO pay that are either inconsistent with, or deemed inefficient by, competing theories. Because one's view of how executive pay arrangements should be designed has significant implications for our assessment of actual executive pay practices, I argue that we should consider the role that tournaments can play in motivating executives before undertaking reforms in the executive pay arena. Optimal contracting theory, in which boards of directors are assumed to be designing pay-for-performance contracts to align the interests of managers with those of shareholders, remains the dominant lens through which executive pay arrangements are analyzed. Observed executive pay contracting fails, however, to conform to the optimal contracting model. Rather than linking compensation to performance, pay arrangements for executives do not reveal a statistically significant relationship between the two. This anomaly has puzzled scholars in the executive compensation area and generated a vigorous debate over pay without performance.
Agency Theory And Executive Pay
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Author : Alexander Pepper
language : en
Publisher: Springer
Release Date : 2018-11-19
Agency Theory And Executive Pay written by Alexander Pepper and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-19 with Business & Economics categories.
This new book examines the relationship between agency theory and executive pay. It argues that while Jensen and Meckling (1976) were right in their analysis of the agency problem in public corporations they were wrong about the proposed solutions. Drawing on ideas from economics, psychology, sociology and the philosophy of science, the author explains how standard agency theory has contributed to the problem of executive pay rather than solved it. The book explores why companies should be regarded as real entities not legal fictions, how executive pay in public corporations can be conceptualised as a collective action problem and how behavioral science can help in the design of optimal incentive arrangements. An insightful and revolutionary read for those researching corporate governance, HRM and organisation theory, this useful book offers potential solutions to some of the problems with executive pay and the standard model of agency.
Executive Compensation Best Practices
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Author : Frederick D. Lipman
language : en
Publisher: John Wiley & Sons
Release Date : 2008-06-27
Executive Compensation Best Practices written by Frederick D. Lipman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-27 with Business & Economics categories.
Executive Compensation Best Practices demystifies the topic of executive compensation, with a hands-on guide providing comprehensive compensation guidance for all members of the board. Essential reading for board members, CEOs, and senior human resources leaders from companies of every size, this book is the most authoritative reference on executive compensation.
Tournament Theory And Its Relevance To Executive Pay
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Author : David Jamin Schneider
language : en
Publisher: GRIN Verlag
Release Date : 2011-06-15
Tournament Theory And Its Relevance To Executive Pay written by David Jamin Schneider and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-15 with Business & Economics categories.
Essay from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 2,0, Murdoch University (Business School), course: Managing Remuneration, Benefits & Motivation, language: English, abstract: This assignment deals with the issue of tournament theory and will give an insight in its theoretical background and its relevance to executive pay. Moreover, the following pages will display the impacts of the tournament theory on organizations and its employees within a business context.
The Complete Guide To Executive Compensation
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Author : Ellig
language : en
Publisher: Tata McGraw-Hill Education
Release Date : 2004-06
The Complete Guide To Executive Compensation written by Ellig and has been published by Tata McGraw-Hill Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06 with categories.
Written by renowned compensation and benefit expert Bruce Ellig, this book is a must read for the designers, approvers, and recipients of executive compensation. Consultants and in-house pay designers will find detailed examples (supplemented with over 350 figures and tables) to trigger their own creativity. Compensation committees and other approvers of executive pay plans will value the definitions and descriptions of various pay plans and the conditions under which they would be appropriate. Executives themselves will find the book useful. Not only in better understanding their own plans, but learning more about other plans, both those they may only have heard about, as well as many that have not yet caught their attention.This book takes an in-depth look at each of the executive pay elements: salary, executive benefits and incentives (both short and long term). This review also includes the role of the board of directors (and its compensation committee) along with the influence of the major stakeholders (most notably the shareholder). And a complete chapter is devoted to various measurements of executive performance.
Pay Without Performance
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Author : Lucian A. Bebchuk
language : en
Publisher: Harvard University Press
Release Date : 2004
Pay Without Performance written by Lucian A. Bebchuk and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.