Intra Firm Monitoring Of Executive Compensation
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Intra Firm Monitoring Of Executive Compensation
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Author : Robert J. Rhee
language : en
Publisher:
Release Date : 2015
Intra Firm Monitoring Of Executive Compensation written by Robert J. Rhee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This Article argues that employees should serve as intra-firm monitors of executive performance and pay. Employees and shareholders, labor and capital, can monitor executive performance and pay at different levels. Diffuse, diversified, and short durational shareholders currently monitor through the market mechanism of public disclosures and share price. Employees can add an effective layer of monitoring by leveraging private information. Employees possess the corporation's entire information content; the assessment derived there from would be relevant to the board's assessment of executive performance and pay. Corporate employees are also a major constituent of the corporate system and our political society. Given that excessive pay has been linked to economic inequity, employee monitoring can also legitimate executive pay in the current social, economic, and political environment in which executive compensation and income disparities have touched public consciousness. The basic structure of such monitoring already exists in law, which is shareholder say-on-pay mandated by the Dodd-Frank Act. Structured properly and achieved fairly as to senior executives, a non-binding employee vote would politically legitimate executive compensation and income disparity at both the firm and political levels.
Research Handbook On Executive Pay
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Author : John S. Beasley
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Research Handbook On Executive Pay written by John S. Beasley and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
Research on executive compensation has exploded in recent years, and this volume of specially commissioned essays brings the reader up-to-date on all of the latest developments in the field. Leading corporate governance scholars from a range of countries set out their views on four main areas of executive compensation: the history and theory of executive compensation, the structure of executive pay, corporate governance and executive compensation, and international perspectives on executive pay. The authors analyze the two dominant theoretical approaches – managerial power theory and optimal contracting theory – and examine their impact on executive pay levels and the practices of concentrated and dispersed share ownership in corporations. The effectiveness of government regulation of executive pay and international executive pay practices in Australia, the US, Europe, China, India and Japan are also discussed. A timely study of a controversial topic, the Handbook will be an essential resource for students, scholars and practitioners of law, finance, business and accounting.
Executive Compensation And Firm Performance
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Author : Elizabeth Jane Murdoch
language : en
Publisher:
Release Date : 1993
Executive Compensation And Firm Performance written by Elizabeth Jane Murdoch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.
Executive Compensation And Earnings Management Under Moral Hazard
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Author : Bo Sun
language : en
Publisher: DIANE Publishing
Release Date : 2010-08
Executive Compensation And Earnings Management Under Moral Hazard written by Bo Sun and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08 with Business & Economics categories.
Analyzes executive compensation in a setting where managers may take a costly action to manipulate corporate performance, and whether managers do so is stochastic. Examines how the opportunity to manipulate affects the optimal pay contract, and establishes necessary and sufficient conditions under which earnings management occurs. The author¿s model provides a set of implications on the role earnings management plays in driving the time-series and cross-sectional variation of executive compensation. In addition, the model's predictions regarding the changes of earnings management and executive pay in response to corporate governance legislation are consistent with empirical observations. Charts and tables.
Executive Compensation And Firm Performance The Relationship Between Monitoring Difficulty And The Use Of Incentive Contracts
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Author :
language : de
Publisher:
Release Date : 1992
Executive Compensation And Firm Performance The Relationship Between Monitoring Difficulty And The Use Of Incentive Contracts written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Responsible Executive Compensation For A New Era Of Accountability
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Author : Peter T. Chingos
language : en
Publisher:
Release Date : 2004-03-25
Responsible Executive Compensation For A New Era Of Accountability written by Peter T. Chingos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03-25 with Business & Economics categories.
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The Regulation Of Executive Compensation
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Author : Kym Maree Sheehan
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
The Regulation Of Executive Compensation written by Kym Maree Sheehan and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
ïBased on extensive interviews with those directly involved in the executive pay setting process _ executives themselves, remuneration committee members, remuneration consultants, and institutional investors _ this excellent study finally explains how, despite repeated regulation over the past twenty years in both the UK and Australia, limits on the amount executives get paid, and a clear relationship between pay and performance remain as elusive as ever. Dr. SheehanÍs study suggests that by targeting the pay setting process rather than pay itself, regulation may have contributed, albeit unintentionally, to the endless upward ratcheting of absolute levels of executive pay.Í _ John Roberts, University of Sydney, Australia ïFor those that believe executive remuneration in the UK and Australia is too high and poorly aligned with company performance, this book provides an excellent analytical framework and strong arguments in favor of greater shareholder oversight of remuneration practices and pay levels. It is well-written, carefully argued and persuasive in its treatment of the subject. I wholeheartedly recommend it.Í _ Randall S. Thomas, Vanderbilt University Law School, US In this timely book, Kym Sheehan examines the regulatory technique known as ïsay on payÍ _ where shareholders vote on executive compensation in an annual, advisory vote on the remuneration report. Using the model of the regulated remuneration cycle, and drawing upon evidence of its operation from interviews, voting data and remuneration reports from UK and Australian companies, the book demonstrates whether say on pay can operate successfully to both constrain executive greed and ensure accountability exists for company performance and decision-making. The Regulation of Executive Compensation is essential reading for corporate governance academics, remuneration consultants, company directors, regulators, pension and superannuation fund trustees and unions. Politicians and their policy advisers, lawyers, accountants and anyone concerned about the corporate governance of listed companies will find much to interest them in this detailed study.
Who Monitors The Monitor The Effect Of Board Independence On Executive Compensation And Firm Value
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Author : Praveen Kumar
language : en
Publisher:
Release Date : 2010
Who Monitors The Monitor The Effect Of Board Independence On Executive Compensation And Firm Value written by Praveen Kumar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Recent corporate governance reforms focus on the board's independence and encourage equity ownership by directors. We analyze the efficacy of these reforms in a model in which both adverse selection and moral hazard exist at the level of the firm's management. Delegating governance to the board improves monitoring but creates another agency problem because directors themselves avoid effort and are dependent on the CEO. We show that as directors become less dependent on the CEO, their monitoring efficiency may decrease even as they improve the incentive efficiency of executive compensation contracts. Therefore, a board composed of directors that are more independent may actually perform worse. Moreover, higher equity incentives for the board may increase equity-based compensation awards to management.
Ceo Compensation
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Author : Wanda Fleming Lester
language : en
Publisher:
Release Date : 1998
Ceo Compensation written by Wanda Fleming Lester and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Executives categories.
Other People S Money
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Author : Steve Werner
language : en
Publisher:
Release Date : 1994
Other People S Money written by Steve Werner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Compensation management categories.