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Empowering Shareholders On Executive Compensation
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Book Synopsis Empowering Shareholders on Executive Compensation by : United States. Congress. House. Committee on Financial Services
Download or read book Empowering Shareholders on Executive Compensation written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2007 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empowering Shareholders on Executive Compensation by : United States House of Representatives
Download or read book Empowering Shareholders on Executive Compensation written by United States House of Representatives and published by . This book was released on 2020-01-27 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empowering shareholders on executive compensation: H.R. 1257, the Shareholder Vote on Executive Compensation Act: hearing before the Committee on Financial Services, U.S. House of Representatives, One Hundred Tenth Congress, first session, March 8, 2007.
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781984168962 Total Pages :168 pages Book Rating :4.1/5 (689 download)
Book Synopsis Empowering Shareholders on Executive Compensation by : United States. Congress
Download or read book Empowering Shareholders on Executive Compensation written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-03-15 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empowering shareholders on executive compensation : H.R. 1257, the Shareholder Vote on Executive Compensation Act : hearing before the Committee on Financial Services, U.S. House of Representatives, One Hundred Tenth Congress, first session, March 8, 2007.
Book Synopsis Empowering Shareholders on Executive Compensation by : United States. Congress. House. Committee on Financial Services
Download or read book Empowering Shareholders on Executive Compensation written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2007 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis House Hearing, 110th Congress by : U. S. Government Printing Office (Gpo)
Download or read book House Hearing, 110th Congress written by U. S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-09 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Book Synopsis Shareholder Empowerment by : Maria Goranova
Download or read book Shareholder Empowerment written by Maria Goranova and published by Springer. This book was released on 2015-12-27 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading management experts offer critical insights into the promises and illusions of shareholder empowerment, the discrepancies between theory and practice, and the challenges posed by variations in global corporate governance regimes.
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 Shareholder Dissent on Say-on-Pay and CEO Compensation by : Martin J. Conyon
Download or read book Shareholder Dissent on Say-on-Pay and CEO Compensation written by Martin J. Conyon and published by . This book was released on 2016 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Dodd Frank Act (2010) empowered shareholders by mandating non-binding voting on executive compensation. This paper investigates the determinants of shareholder dissent on the say-on-pay proposal. Data on S&P1500 firms between 2010 and 2012 reveal various findings. First, fewer than 3% of firms failed to pass their say-on-pay proposals. Second, shareholder dissent on say-on-pay is higher in firms where CEO compensation is high or 'excessive', consistent with agency theory. Third, shareholder dissent is higher in firms with poor performance, measured by stock-market or accounting returns. Fourth, there is less dissent on say-on-pay in firms with better quality boardroom governance (e.g. the presence of a non-CEO lead director or hiring a major compensation consultant). Lastly, difference-in-difference estimates show that the growth in CEO pay is lower in firms that previously attracted high levels of dissent on say-on-pay.
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 Pay without Performance by : Lucian Bebchuk
Download or read book Pay without Performance written by Lucian Bebchuk and published by Harvard University Press. This book was released on 2006-09-30 with total page 293 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 Shareholders Have a Say in Executive Compensation by : Marinilka Barros Kimbro
Download or read book Shareholders Have a Say in Executive Compensation written by Marinilka Barros Kimbro and published by . This book was released on 2015 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the SEC regulation requiring non-binding general shareholder vote on executive compensation-“say-on-pay” (SOP). We examine the first two years of SOP in the Russell 3000. The results confirm previous shareholder-proposal studies by finding that SOP approval (reject) votes are associated with: higher (lower) ROA, higher (lower) returns, lower (higher) institutional ownership and lower (higher) CEO compensation. We also find that approval (reject) SOP votes firms have: lower (higher) volatility, lower (higher) excessive compensation and lower (higher) abnormal accruals. We find some evidence to suggest that the effect of institutional ownership is less in 2012 than in 2011. This study contributes to the literature in three ways. First, we find evidence that SOP votes are sensitive to firm risk, excessive CEO compensation, accounting quality and financial performance. Second, we find that Boards react to SOP rejection votes by subsequently reducing the level of excessive compensation. Third, our results present evidence to suggest that shareholder voting rights -even when non-binding- could be an effective mechanism of corporate governance that addresses the problem of incomplete contracts and management rent extraction.
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:
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.
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Publisher : ISBN 13 : Total Pages :420 pages Book Rating :4.:/5 (327 download)
Book Synopsis Corporate Governance and Shareholder Empowerment by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Download or read book Corporate Governance and Shareholder Empowerment written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2010 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Executive Compensation Restrictions and Shareholder Wealth Maximization During the Financial Crisis by : Eddy Junarsin
Download or read book Executive Compensation Restrictions and Shareholder Wealth Maximization During the Financial Crisis written by Eddy Junarsin and published by . This book was released on 2013 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shareholders can utilize internal and external governance mechanisms to minimize agency costs. Internal governance mechanisms purport to improve the alignment between shareholders' interests and those of management by empowering the board of directors, setting value-maximizing compensation packages, employing leverage, and using other internal policies. Extensive discussion on corporate governance and regulations has motivated financial experts to conduct research on governance mechanisms and their relations to firm value. This study is focused on one particular aspect of corporate governance, which is executive compensation. Specifically, this study investigates executive compensation restrictions during the regulatory period and their effect on the performance of firms that received Troubled Asset Relief Program (TARP) funds. TARP is a U.S. government program intended to restore the U.S. economy by purchasing assets and equities from troubled institutions. This study is important since it showcases the efficacy of government regulations to revamp unsound executive compensation and governance practices. It also contributes to the governance and regulatory literature by showing whether the public and shareholders benefit from the compensation rules. Using a clean sample of 84 public TARP firms that received at least $50 million from the government, with the period of analysis from 2003 to 2010, I find that firm performance is positively and significantly related to total compensation as well as to both of its components, i.e., equity-based pay and cash-based compensation. However, the magnitude of the relationship between cash compensation and firm performance is much lower than that for equity-based compensation. Testing the pay-for-performance sensitivity in three sub-periods of analysis, the findings show that the relationship between executive compensation and firm performance was significantly positive in the pre-crisis period. However, during the financial crisis and the regulatory periods, this relation was not statistically different from that during the pre-crisis period. During the crisis period, TARP firms did not make necessary adjustments to executive compensation despite the fact that they had been faced with financial difficulties. I also find that the change in firm value is negatively and significantly related to the change in total compensation for TARP firms that have paid back their debts to the government by December 11, 2009, but this relation is less negative than that for TARP firms that have not repaid the bailout money.
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 Regulation of Say on Pay by : Lukas Mueller
Download or read book Regulation of Say on Pay written by Lukas Mueller and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws upon legislative experience from the United States. Recently proposed legislation in Switzerland attempts to empower shareholders with the draft of the Swiss Code of Obligations (CO). The main motivation behind this draft law is the reduction of excessive executive compensation. Directors and shareholders with a higher degree of independence might be less conflicted in their decisions but they might also have a lack of firm-specific know-how. In effect, this could lead to weaker bargaining power of directors in relation to executives when they have to contract for new employment agreements with their executives. Moreover, shareholders often do not have the time or ability to process complex disclosure about executive compensation. This will lead to uninformed voting behavior of rationally apathetic shareholders. Additionally, some shareholders, e.g., institutional investors, may prefer to stay on good terms with the CEO or directors because they want to have a good longterm relationship with the board and the executives. This article advises against implementing a specific salary cap for so called “very high compensation” and also advises against the implementation of tax burdens for executive compensation.
