Agency Theory and Executive Pay

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Author :
Publisher : Springer
ISBN 13 : 3319999699
Total Pages : 140 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Agency Theory and Executive Pay by : Alexander Pepper

Download or read book Agency Theory and Executive Pay written by Alexander Pepper and published by Springer. This book was released on 2018-11-19 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

An Introduction to Executive Compensation

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Publisher : Academic Press
ISBN 13 : 9780120771264
Total Pages : 410 pages
Book Rating : 4.7/5 (712 download)

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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.

Pay Without Performance

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

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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.

Research Handbook on Executive Pay

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1781005109
Total Pages : 553 pages
Book Rating : 4.7/5 (81 download)

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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.

Explaining Executive Pay

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Publisher : Springer Science & Business Media
ISBN 13 : 3835093916
Total Pages : 224 pages
Book Rating : 4.8/5 (35 download)

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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.

Effective Executive Compensation

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Publisher : AMACOM/American Management Association
ISBN 13 : 0814410820
Total Pages : 544 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Effective Executive Compensation by : Michael Dennis GRAHAM

Download or read book Effective Executive Compensation written by Michael Dennis GRAHAM and published by AMACOM/American Management Association. This book was released on 2008-04-23 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes to creating an executive compensation program, it can feel like there’s little gray area between giving top performers too shiny a golden parachute, with exorbitant perks, and providing the company’s leaders with the incentive they need to continue doing their best. This book gives readers the techniques and understanding they need to design a rewards strategy that will motivate performers while benefiting the entire organization. Taking a careful look at the complicated state of executive rewards, this no-nonsense, practical guide provides readers with a complete methodology for motivating management to accomplish critical business goals. Eschewing a one-size-fits-all approach, the book uses case studies and examples to illustrate what factors should be considered—including environment, key stakeholders, people strategy, business strategy, and organizational capabilities—when designing a program that will benefit both their company and the people who fuel its success.

Executive Pay

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Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Executive Pay by : United States. Congress. House. Committee on Oversight and Government Reform

Download or read book Executive Pay written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2009 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pay for Results

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Publisher : John Wiley & Sons
ISBN 13 : 047047811X
Total Pages : 288 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis Pay for Results by : Mercer, LLC

Download or read book Pay for Results written by Mercer, LLC and published by John Wiley & Sons. This book was released on 2009-03-17 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The numerous incentive approaches and combinations and their implications can be dizzying even to the compensation professional. Pay for Results provides a road map for developing and implementing executive incentives that drive business needs and strategy. It is filled with specific analytic tools, including tables, exhibits, forms, checklists. In addition, it uncovers myths in performance measurement strategy and design. Timely and thorough, this book expertly shows businesses how to drive their specific needs and strategy. Human resources and compensation officers will discover how to apply performance metrics that align with shareholder investment.

Annual Adjustments, the Key to Federal Executive Pay

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Author :
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Annual Adjustments, the Key to Federal Executive Pay by : United States. General Accounting Office

Download or read book Annual Adjustments, the Key to Federal Executive Pay written by United States. General Accounting Office and published by . This book was released on 1979 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Myths and Realities of Executive Pay

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Publisher : Cambridge University Press
ISBN 13 : 113946647X
Total Pages : 15 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Myths and Realities of Executive Pay by : Ira Kay

Download or read book Myths and Realities of Executive Pay written by Ira Kay and published by Cambridge University Press. This book was released on 2007-08-27 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Popular perceptions of executive compensation in the United States are now part of a full-blown mythology fueled by critics who have little direct experience with the inner workings of corporations, their boards, and the executive teams who ultimately shoulder the responsibility for business success or failure. This book documents the realities of executive compensation by investigating the extent to which the pay for performance model governs executive pay levels. It also assesses the relative success of this model in creating value for shareholders and robust job growth for U.S. workers and provides detailed, real-world guidance for designing and executing effective executive compensation plans. Based on extensive empirical research and decades of direct experience in the field, Myths and Realities of Executive Pay settles the debate about executive compensation and the role it plays in the broader U.S. economy.

Executive Pay in South Africa

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Publisher : Juta and Company Ltd
ISBN 13 : 9781770131095
Total Pages : 260 pages
Book Rating : 4.1/5 (31 download)

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Book Synopsis Executive Pay in South Africa by : Ann Crotty

Download or read book Executive Pay in South Africa written by Ann Crotty and published by Juta and Company Ltd. This book was released on 2006 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: South African chief executives are apparently worth their weight in gold. This book investigates the pay of the chief executives.

Too Much Is Not Enough

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Publisher : Oxford University Press
ISBN 13 : 0199977127
Total Pages : 428 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis Too Much Is Not Enough by : Robert W. Kolb

Download or read book Too Much Is Not Enough written by Robert W. Kolb and published by Oxford University Press. This book was released on 2012-08-02 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scholarly literature on executive compensation is vast. As such, this literature provides an unparalleled resource for studying the interaction between the setting of incentives (or the attempted setting of incentives) and the behavior that is actually adduced. From this literature, there are several reasons for believing that one can set incentives in executive compensation with a high rate of success in guiding CEO behavior, and one might expect CEO compensation to be a textbook example of the successful use of incentives. Also, as executive compensation has been studied intensively in the academic literature, we might also expect the success of incentive compensation to be well-documented. Historically, however, this has been very far from the case. In Too Much Is Not Enough, Robert W. Kolb studies the performance of incentives in executive compensation across many dimensions of CEO performance. The book begins with an overview of incentives and unintended consequences. Then it focuses on the theory of incentives as applied to compensation generally, and as applied to executive compensation particularly. Subsequent chapters explore different facets of executive compensation and assess the evidence on how well incentive compensation performs in each arena. The book concludes with a final chapter that provides an overall assessment of the value of incentives in guiding executive behavior. In it, Kolb argues that incentive compensation for executives is so problematic and so prone to error that the social value of giving huge incentive compensation packages is likely to be negative on balance. In focusing on incentives, the book provides a much sought-after resource, for while there are a number of books on executive compensation, none focuses specifically on incentives. Given the recent fervor over executive compensation, this unique but logical perspective will garner much interest. And while the literature being considered and evaluated is technical, the book is written in a non-mathematical way accessible to any college-educated reader.

Executive Compensation

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Publisher : Windsor Professional Information
ISBN 13 : 9781893190252
Total Pages : 564 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis Executive Compensation by : Edge

Download or read book Executive Compensation written by Edge and published by Windsor Professional Information. This book was released on 2004 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing from nine of the leading compensation advisory firms in the country, Executive Compensation: The Professional's Guide to Current Issues and Practices is the first publication to bring together a number of the top practitioners and experts in the field to provide the information and insights needed to navigate within the new era of accountability and performance standards.

Executive Compensation and Shareholder Value

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

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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.

Empowering Shareholders on Executive Compensation

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Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.0/5 ( download)

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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:

107-2 Hearing: Corporate Governance and Executive Compensation, S. Hrg. 107-739, April 18, 2002, *

Download 107-2 Hearing: Corporate Governance and Executive Compensation, S. Hrg. 107-739, April 18, 2002, * PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis 107-2 Hearing: Corporate Governance and Executive Compensation, S. Hrg. 107-739, April 18, 2002, * by :

Download or read book 107-2 Hearing: Corporate Governance and Executive Compensation, S. Hrg. 107-739, April 18, 2002, * written by and published by . This book was released on 2003 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Executive compensation Switzerland

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Publisher : Obermatt AG
ISBN 13 : 9783033009714
Total Pages : 122 pages
Book Rating : 4.0/5 (97 download)

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Book Synopsis Executive compensation Switzerland by : Hermann J. Stern

Download or read book Executive compensation Switzerland written by Hermann J. Stern and published by Obermatt AG. This book was released on 2003 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: