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Determinants Of Executive Compensation In Privately Held Firms
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Book Synopsis Determinants of Executive Compensation in Privately Held Firms by : Jesper Banghøj
Download or read book Determinants of Executive Compensation in Privately Held Firms written by Jesper Banghøj and published by . This book was released on 2008 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine what determines executive compensation in privately held firms. Our study is motivated by the fact that most studies in this area rely on data from publicly traded firms. Further, the few studies that are based on data from privately held firms only examine a limited number of determinants of executive compensation. Previous studies also assume that the quality of compensation contracts is identical across executives. Based on unique data from our survey we create a quality index on each executive's bonus plan. We conjecture that the pay to performance relation is stronger for better designed bonus plans.
Book Synopsis Determinants of Executive Compensation by : Ellen Pavlik
Download or read book Determinants of Executive Compensation written by Ellen Pavlik and published by Praeger. This book was released on 1991-06-21 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a thorough study of what determines executive compensation levels, challenging prior research which tended to focus solely on the influence of corporate financial performance.
Book Synopsis What Do We Know About Executive Compensation at Small Privately Held Firms? by : Rebel A. Cole
Download or read book What Do We Know About Executive Compensation at Small Privately Held Firms? written by Rebel A. Cole and published by . This book was released on 2016 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine executive compensation using data from two nationally representative samples of small privately held U.S. corporations conducted ten years apart -- in 1993 and 2003. We find that executive pay at small privately held firms increases with firm size and varies widely by industry, consistent with stylized facts about executive pay at public companies. From 1993-2003, inflation-adjusted executive pay declined at small privately held companies, in contrast with the run-up in executive pay at large public companies over the same period. Executive pay is higher at more complex organizations; is inversely related to CEO ownership and financial risk; and is related to CEO age, education and gender.
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.
Book Synopsis Executive Compensation Best Practices by : Frederick D. Lipman
Download or read book Executive Compensation Best Practices written by Frederick D. Lipman and published by John Wiley & Sons. This book was released on 2008-06-27 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis An Introduction to Executive Compensation by : Steven Balsam
Download or read book An Introduction to Executive Compensation written by Steven Balsam and published by Academic Press. This book was released on 2002 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Understanding Executive Compensation and Governance: A Practical Guide by : Irving S. Becker
Download or read book Understanding Executive Compensation and Governance: A Practical Guide written by Irving S. Becker and published by Worldatwork. This book was released on 2021-06-30 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Explaining Executive Pay by : Lukas Hengartner
Download or read book Explaining Executive Pay written by Lukas Hengartner and published by Springer Science & Business Media. This book was released on 2007-12-31 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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
Book Synopsis An Empirical Investigation of the Determinants of Executive Compensation in Large and Small Firms by : Linda Carr-Valinezhad
Download or read book An Empirical Investigation of the Determinants of Executive Compensation in Large and Small Firms written by Linda Carr-Valinezhad and published by . This book was released on 1993 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Family Business Compensation by : C. Aronoff
Download or read book Family Business Compensation written by C. Aronoff and published by Springer. This book was released on 2016-05-24 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compensation is one of the most discussed items in business. And in a family business it gets personal. Authors Aronoff, McLure and Ward answer the some of the most important questions when it comes to the family what is fair pay among family members? How do I determine appropriate pay for my child? What should I pay my shareholders?
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 diplom.de. This book was released on 2016-11-17 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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.
Book Synopsis Research Handbook on Executive Pay by : John S. Beasley
Download or read book Research Handbook on Executive Pay written by John S. Beasley and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Executive Compensation, Firm Performance and Corporate Governance by : Aditya Parthasarathy
Download or read book Executive Compensation, Firm Performance and Corporate Governance written by Aditya Parthasarathy and published by . This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of executive compensation using the most recent data on firm performance, corporate governance and managerial compensation for a large sample of Indian firms. A linear regression model is used to develop explanations for total CEO compensation and the proportion of incentive pay that forms a part of the CEO's compensation. It is found that firm size is a significant determinant of both these aspects of CEO compensation. The results also show that CEOs who are promoters of their firms earn significantly more than ordinary CEOs. Such individuals also earn a much larger component of their compensation as incentive pay. In addition, this study also quantifies the significant divergences in compensation policies that are followed at firms in the public sector when compared to private sector firms.
Book Synopsis Private Equity Executive Compensation by : Daniel Adna Ames
Download or read book Private Equity Executive Compensation written by Daniel Adna Ames and published by . This book was released on 2008 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation compares compensation arrangements of firms with private equity and public debt and firms with arrangements public equity and public debt. In a sample of 77 firms, it is found that privately held firms offer less bonus compensation in levels, but more as a percentage of total income, less equity compensation, in levels and as a percentage of total income, and less total compensation. Three possible explanations for these differences are proposed and tested. The first explanation is that managers of private firms own more of the company they manage, and thus less annual equity-based compensation is required to align incentives. The tests employed do not support this hypothesis. Tests of the second explanation, that difficulties associated with the valuation/liquidity of private equity shares drive differences, were significant. The third explanation is that superior monitoring among firms with private debt drives compensation differences. No support for this hypothesis was found. Taken together, these results are consistent with the explanation that privately held firms compensate their managers differently due to the inherent difficulty in valuing and/or liquidating equity shares.
Book Synopsis Determinants of CEO Pay by : W. Otto Carroll
Download or read book Determinants of CEO Pay written by W. Otto Carroll and published by . This book was released on 1996 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
