Ceo Pay And Shareholder Value

Download Ceo Pay And Shareholder Value full books in PDF, epub, and Kindle. Read online Ceo Pay And Shareholder Value ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Executive Compensation and Shareholder Value

Author : Jennifer Carpenter
Publisher : Springer Science & Business Media
ISBN 13 : 1475751923
Total Pages : 159 pages
Book Rating : 4.4/5 (757 download)

DOWNLOAD NOW!

Book Synopsis Executive Compensation and Shareholder Value by : Jennifer Carpenter

Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.

CEO Pay and Shareholder Value

Author : Ira T. Kay
Publisher : CRC Press
ISBN 13 : 9781574442038
Total Pages : 164 pages
Book Rating : 4.4/5 (42 download)

DOWNLOAD NOW!

Book Synopsis CEO Pay and Shareholder Value by : Ira T. Kay

Download or read book CEO Pay and Shareholder Value written by Ira T. Kay and published by CRC Press. This book was released on 1997-11-11 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. executive pay, particularly that of CEOs, has been under serious attack for nearly a decade. Despite the fact that tying executive performance and pay to stock price has appeared to have substantially benefited the U.S. economy, this criticism has not subsided. CEO Pay and Shareholder Value challenges some assumptions behind this criticism by addressing these pertinent questions and more:

CEO Pay, Performance, and Value Sharing

Author : Nicholas Donatiello
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!

Book Synopsis CEO Pay, Performance, and Value Sharing by : Nicholas Donatiello

Download or read book CEO Pay, Performance, and Value Sharing written by Nicholas Donatiello and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: CEO compensation is a highly controversial subject. While most company directors believe that CEO pay is not a problem, the majority of the American public believes that it is. The difficulties that boards face in justifying CEO pay levels in some ways stem from the challenge of quantifying how much value a CEO creates and how much of this value should be shared as compensation. We examine this topic in detail and ask: • Why are CEO compensation arrangements not explicitly tied to value creation?• How much does a CEO personally contribute to corporate performance?• How is corporate performance best measured: by change in stock price or change in corporate profits?• What portion of shareholder value creation should a CEO receive in pay?• Why don't companies explicitly calculate and disclose the relation between value creation and pay?The Stanford Closer Look series is a collection of short case studies through which we explore topics, issues, and controversies in corporate governance and executive leadership. In each study, we take a targeted look at a specific issue that is relevant to the current debate on governance and explain why it is so important. Larcker and Tayan are co-authors of the books Corporate Governance Matters and A Real Look at Real World Corporate Governance.

The Handbook of the Economics of Corporate Governance

Author : Benjamin Hermalin
Publisher : Elsevier
ISBN 13 : 0444635408
Total Pages : 762 pages
Book Rating : 4.4/5 (446 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of the Economics of Corporate Governance by : Benjamin Hermalin

Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward

Pay Without Performance

Author : Lucian A. Bebchuk
Publisher : Harvard University Press
ISBN 13 : 9780674020634
Total Pages : 308 pages
Book Rating : 4.0/5 (26 download)

DOWNLOAD NOW!

Book Synopsis Pay Without Performance by : Lucian A. Bebchuk

Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Pay Without Performance

Author : Lucian Bebchuk
Publisher :
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.3/5 (91 download)

DOWNLOAD NOW!

Book Synopsis Pay Without Performance by : Lucian Bebchuk

Download or read book Pay Without Performance written by Lucian Bebchuk and published by . This book was released on 2004-11-22 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful critique of executive compensation and corporate governance, "Pay Without Performance" points the way to restoring corporate integrity and improving corporate performance.

A Guide To CEO Compensation

Author : Truman Sojo
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.5/5 (73 download)

DOWNLOAD NOW!

Book Synopsis A Guide To CEO Compensation by : Truman Sojo

Download or read book A Guide To CEO Compensation written by Truman Sojo and published by . This book was released on 2021-05-20 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pay for performance has taken on new meaning for many shareholders and boards of directors. When attacks on Wall Street banks ensued after large bonuses were paid post-bailout, quite a few shareholders felt cheated because taxpayer monies were directed toward senior executives' pocketbooks rather than their own. The banks' poor form also led to a resurgence of a true pay-for-performance mentality in corporate boardrooms. Never before have boards purposed to demonstrate credible oversight with respect to pay. In addition, the Securities and Exchange Commission (SEC) is placing more emphasis on risk oversight and the actions compensation plans motivate executives to take. Given the increased attention to pay for performance, it is important for companies to understand that the key to successful compensation plans is not the amount of compensation. Rather, it is intent and design. Simply put: CEO pay should be designed to drive a company's business strategy and create shareholder value. This study examined the relationship between chief executive officers' (CEOs') compensation components, which consisted of salary, bonus, stock options, other compensation, stock awards, nonequity incentive plans, deferred compensation earnings, and total compensation, and compared them with the organizational performance elements of earnings per share, debt-to-equity ratio, revenue, and pretax return on equity.

Responsible Executive Compensation for a New Era of Accountability

Author : Peter T. Chingos
Publisher : John Wiley & Sons
ISBN 13 : 0471655082
Total Pages : 322 pages
Book Rating : 4.4/5 (716 download)

DOWNLOAD NOW!

Book Synopsis Responsible Executive Compensation for a New Era of Accountability by : Peter T. Chingos

Download or read book Responsible Executive Compensation for a New Era of Accountability written by Peter T. Chingos and published by John Wiley & Sons. This book was released on 2004-04-12 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive road map to help companies assess and refine their executive reward strategies. Responsible pay has become inextricably linked with corporate governance and long-term shareholder value creation. Responsible Executive Compensation for a New Era of Accountability shows you how to revamp your executive compensation programs to drive shareholder value creation while adhering to the high standards of the new corporate governance environment. Packed with case studies, diagnostics, and contributions from world-renowned experts in executive compensation, this vital resource offers a comprehensive overview of the critical issues affecting executive compensation practice and theory during this new era. Order your copy today!

CEO Compensation

Author : Alex Edmans
Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (125 download)

DOWNLOAD NOW!

Book Synopsis CEO Compensation by : Alex Edmans

Download or read book CEO Compensation written by Alex Edmans and published by . This book was released on 2021 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints lead to lower pay levels and more one-size-fits-all structures. Shareholders are the main source of constraints, suggesting directors and investors disagree on how to maximize value. Respondents view intrinsic motivation and reputation as stronger motivators than incentive pay. They believe pay matters to CEOs not to finance consumption, but because it affects perceptions of fairness. The need to fairly recognize the CEO's contribution explains why flow pay responds to performance, even though CEOs' equity holdings already provide substantial consumption incentives, and why peer firm pay matters beyond retention concerns. Fairness also matters to investors, with shareholder returns an important reference point. This causes CEO pay to be affected by external risks, in contrast to optimal risk sharing.

Value at the Top

Author : Ira T. Kay
Publisher : HarperCollins Publishers
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.F/5 ( download)

DOWNLOAD NOW!

Book Synopsis Value at the Top by : Ira T. Kay

Download or read book Value at the Top written by Ira T. Kay and published by HarperCollins Publishers. This book was released on 1992 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revealing examination into how top executives are driven by their compensation packages to undertake strategies far riskier than their shareholders desire--with practical solutions that can protect company assets.

How justifiable is high CEO pay in the United States?

Author : Christoph Kotsch
Publisher : GRIN Verlag
ISBN 13 : 3668351392
Total Pages : 31 pages
Book Rating : 4.6/5 (683 download)

DOWNLOAD NOW!

Book Synopsis How justifiable is high CEO pay in the United States? by : Christoph Kotsch

Download or read book How justifiable is high CEO pay in the United States? written by Christoph Kotsch and published by GRIN Verlag. This book was released on 2016-11-28 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Philosophy - Practical (Ethics, Aesthetics, Culture, Nature, Right, ...), grade: 1,0, University of Graz (Graz International Summer School Seggau), course: Transformation, Transgressions, and Trust in Europe and the Americas, language: English, abstract: The high compensation for executives and in particular for CEOs has been a topic of debate for many years. Increasing salaries and bonuses for leaders of companies have mostly been criticized and even pointed out as a key factor for a rising wealth distribution inequality. Especially in the United States, where CEO pay is most extreme, the public as well as the media ask for new regulations and political intervention. But are these high compensations really undeserved and unfair? How much do top managers actually earn and why do businesses support it? This academic paper will first give an overview of some important numbers and statistics in order to have an idea of how high a CEO’s income is compared to an average employee. It will also explain how to properly interpret these data and how much an executive’s income can vary depending on different factors. After analyzing the recent history and developments in CEO pay, chapter 8 will provide the necessary economic background to help understand companies’ decisions and see high wages from a business point of view. Although the paper will focus on CEO earnings in the US, it will give examples of differences in other countries and systems. Due to a distinct set of labor regulations, we will draw a comparison to CEO pay in Germany and furthermore illustrate the event of a political referendum in Switzerland. Finally, we will pick on various arguments by media, the public, as well as renowned economists, listing a series of pros and cons for excessive CEO pay. An insightful survey, conducted in the US, will then close the debate and leave the reader with the final thoughts of the conclusion.

The CEO Pay Machine

Author : Steven Clifford
Publisher : Penguin
ISBN 13 : 0735212392
Total Pages : 289 pages
Book Rating : 4.7/5 (352 download)

DOWNLOAD NOW!

Book Synopsis The CEO Pay Machine by : Steven Clifford

Download or read book The CEO Pay Machine written by Steven Clifford and published by Penguin. This book was released on 2017 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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 ... 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.' [This book] is Clifford's ... explanation of the 'machine'--how it works, how its parts interact, and how every step pushes CEO pay to higher levels"--

The Shareholder Value Myth

Author : Lynn Stout
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1605098167
Total Pages : 151 pages
Book Rating : 4.6/5 (5 download)

DOWNLOAD NOW!

Book Synopsis The Shareholder Value Myth by : Lynn Stout

Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute

CEO Death Benefit Plans

Author : Myriam Polydor
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (17 download)

DOWNLOAD NOW!

Book Synopsis CEO Death Benefit Plans by : Myriam Polydor

Download or read book CEO Death Benefit Plans written by Myriam Polydor and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Death benefit plans, commonly called "golden coffins", are a highly controversial compensation feature, in which executives receive severance pay upon death. While they have been criticized by the media and the public for a decade, the extensive academic literature on managerial compensation has barely addressed the topic. This thesis aims to fill the surprising research gap by taking advantage of the newly available information, following the 2006 SEC disclosure changes. Data on CEO death benefit plans is hand-collected from proxy statements filings, for a sample of 847 U.S. firms from the S&P 1500. The resulting unique dataset shows that golden coffins are large and widespread, that their main component is accelerated unvested equity pay, and that companies offering them, are likely to have some significantly weaker corporate governance mechanisms. Furthermore, in an event study on shareholder reaction upon their initial disclosure, the study finds some evidence that, accelerated stock awards and cash death benefits, the two largest golden coffin components, are negatively perceived by shareholders, translating into a substantial equity value loss. Overall, the findings suggest that these large death benefit plans, common in U.S. companies, are partly the result of a corporate governance failure in those firms. The study thereby contributes considerably to the heated debate on executive compensation, by offering some support to the managerial power approach.

The Importance Of CEO Compensation Plan Design

Author : Vicente Vigario
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.5/5 (73 download)

DOWNLOAD NOW!

Book Synopsis The Importance Of CEO Compensation Plan Design by : Vicente Vigario

Download or read book The Importance Of CEO Compensation Plan Design written by Vicente Vigario and published by . This book was released on 2021-05-20 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pay for performance has taken on new meaning for many shareholders and boards of directors. When attacks on Wall Street banks ensued after large bonuses were paid post-bailout, quite a few shareholders felt cheated because taxpayer monies were directed toward senior executives' pocketbooks rather than their own. The banks' poor form also led to a resurgence of a true pay-for-performance mentality in corporate boardrooms. Never before have boards purposed to demonstrate credible oversight with respect to pay. In addition, the Securities and Exchange Commission (SEC) is placing more emphasis on risk oversight and the actions compensation plans motivate executives to take. Given the increased attention to pay for performance, it is important for companies to understand that the key to successful compensation plans is not the amount of compensation. Rather, it is intent and design. Simply put: CEO pay should be designed to drive a company's business strategy and create shareholder value. This study examined the relationship between chief executive officers' (CEOs') compensation components, which consisted of salary, bonus, stock options, other compensation, stock awards, nonequity incentive plans, deferred compensation earnings, and total compensation, and compared them with the organizational performance elements of earnings per share, debt-to-equity ratio, revenue, and pretax return on equity.

Performance and Reward

Author : Patrick Gerard
Publisher : Troubador Publishing Ltd
ISBN 13 : 9781905237388
Total Pages : 286 pages
Book Rating : 4.2/5 (373 download)

DOWNLOAD NOW!

Book Synopsis Performance and Reward by : Patrick Gerard

Download or read book Performance and Reward written by Patrick Gerard and published by Troubador Publishing Ltd. This book was released on 2006 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tackles executive pay from the start, looking at what shareholders want and what is meant by 'performance'. This book also examines the various forms of executive pay and shows where things go wrong for the shareholder. It looks at the dynamics that drive the level of executive pay, suggesting changes in order to meet the shareholder interest.

EVA as a Measure for Shareholder Value and Executive Compensation - A Critical View

Author : Stephan Pietge
Publisher : GRIN Verlag
ISBN 13 : 3638699668
Total Pages : 93 pages
Book Rating : 4.6/5 (386 download)

DOWNLOAD NOW!

Book Synopsis EVA as a Measure for Shareholder Value and Executive Compensation - A Critical View by : Stephan Pietge

Download or read book EVA as a Measure for Shareholder Value and Executive Compensation - A Critical View written by Stephan Pietge and published by GRIN Verlag. This book was released on 2007-07-29 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1.0 (A), Edinburgh Napier University (Business School), 200 entries in the bibliography, language: English, abstract: For several decades academics have been looking for an efficient performance measure, which not only reflects the effectiveness and efficiency of the firm, but also aligns manager′s and shareholder′s interests. Even though many studies question the merit of a single measure for overall firm performance, Stern and Stewart claim to have solved the puzzle with a method labeled Economic Value Added (EVA). This paper examines two aspects: First, EVA′s predicting power regarding stock returns and second, its impact on management behavior as an element of executive compensation. At first glance, Stern and Stewart seem to be right. During the early 1990s their approach gained tremendous popularity, reflected by dozens of anecdotal success stories. Though EVA′s demand of integrating a total capital charge is appealing, the concept is by no means new. The framework of residual income (economic profit), which has been around for decades, also requires a charge for equity capital. Further, some scholars criticize the use of accounting adjustments in order to calculate EVA and its ability to capture performance at the divisional level. So far there is no independent empirical evidence that EVA is superior to accounting measures in predicting stock returns. Some studies even question EVA′s incremental value regarding executive compensation by stating that economic profit is doing as good a job. Consequently, it is tempting to doubt that Economic Value Added indeed adds any value.