Pay Without Performance

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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)

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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.

Pay without Performance

Author : Lucian Bebchuk
Publisher : Harvard University Press
ISBN 13 : 067426195X
Total Pages : 293 pages
Book Rating : 4.6/5 (742 download)

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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.

PAY WITHOUT PERFORMANCE: THE UNFULFILLED PROMISE OF EXECUTIVE COMPENSATION.

Author : Lucian A. Bebchuk
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)

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Book Synopsis PAY WITHOUT PERFORMANCE: THE UNFULFILLED PROMISE OF EXECUTIVE COMPENSATION. by : Lucian A. Bebchuk

Download or read book PAY WITHOUT PERFORMANCE: THE UNFULFILLED PROMISE OF EXECUTIVE COMPENSATION. written by Lucian A. Bebchuk and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fair Pay, Fair Play

Author : Robin A. Ferracone
Publisher : John Wiley & Sons
ISBN 13 : 0470612851
Total Pages : 291 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Fair Pay, Fair Play by : Robin A. Ferracone

Download or read book Fair Pay, Fair Play written by Robin A. Ferracone and published by John Wiley & Sons. This book was released on 2010-05-27 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely look at how to evaluate and determine executive pay Recognized as the leading expert on executive compensation, Robin Ferracone combines her own 20 years of experience with interviews with executives and compensation committees to provide a clear examination of and guidance on determining pay packages, actions, and designs. and Over the past 25 years, the author has created a database of executive pay across 44,000 companies, broken down by company performance, company revenue and industry. Using this data, the author provides boards and individuals evaluating executive pay with the ability to analytically determine an appropriate compensation package. Provides real-life stories, perspectives, and insights from thought leaders on executive compensation Contains interview with compensation committee members, executives, academicians, government leaders, and shareholder activists Research based on 44,000 companies broken down by performance, revenue and industry Offers a timely resource on a hot button topic.

Handbook of Principles of Organizational Behavior

Author : Edwin Locke
Publisher : John Wiley & Sons
ISBN 13 : 0470685336
Total Pages : 694 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Handbook of Principles of Organizational Behavior by : Edwin Locke

Download or read book Handbook of Principles of Organizational Behavior written by Edwin Locke and published by John Wiley & Sons. This book was released on 2011-07-15 with total page 694 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a strong movement today in management to encourage management practices based on research evidence. In the first volume of this handbook, I asked experts in 39 areas of management to identify a central principle that summarized and integrated the core findings from their specialty area and then to explain this principle and give real business examples of the principle in action. I asked them to write in non-technical terms, e.g., without a lot of statistics, and almost all did so. The previous handbook proved to be quite popular, so I was asked to edit a second edition. This new edition has been expanded to 33 topics, and there are some new authors for the previously included topics. The new edition also includes: updated case examples, updated references and practical exercises at the end of each chapter. It also includes a preface on evidence-based management. The principles for the first edition were intended to be relatively timeless, so it is no surprise that most of the principles are the same (though some chapter titles include more than one principle). This book could serve as a textbook in advanced undergraduate and in MBA courses. It could also be of use to practicing managers and not just those in Human Resource departments. Every practicing manager may not want to read the whole book, but I am willing to guarantee that every one will find at least one or more chapters that will be practically useful. In this time of economic crisis, the need for effective management practices is more acute than ever.

U.S. Corporate Governance

Author : Donald H. Chew
Publisher : Columbia University Press
ISBN 13 : 9780231519984
Total Pages : 388 pages
Book Rating : 4.5/5 (199 download)

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Book Synopsis U.S. Corporate Governance by : Donald H. Chew

Download or read book U.S. Corporate Governance written by Donald H. Chew and published by Columbia University Press. This book was released on 2009-08-25 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance constitutes the internal and external institutions, markets, policies, and processes designed to help companies maximize their efficiency and value. In this collection of classic and current articles from the Journal of Applied Corporate Finance, thought leaders such as Michael Jensen and Robert Monks discuss the corporate mission of value maximization and the accomplishments and limitations of the U.S. governance system in achieving that end. Essays address the elements driving corporate value: the board of directors, compensation for CEOs and other employees, incentives and organizational structure, external ownership and control, role of markets, and financial reporting. They evaluate best practice methods, challenges in designing equity plans, transferable stock options, the controversy over executive compensation, the values of decentralization, identifying and attracting the "right" investors, the evolution of shareholder activism, creating value through mergers and acquisitions, and the benefits of just saying no to Wall Street's "earnings game." Grounded in solid research and practice, U.S. Corporate Governance is a crucial companion for navigating the world of modern finance.

Pay for Performance

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309044278
Total Pages : 221 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Pay for Performance by : National Research Council

Download or read book Pay for Performance written by National Research Council and published by National Academies Press. This book was released on 1991-02-01 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Pay for performance" has become a buzzword for the 1990s, as U.S. organizations seek ways to boost employee productivity. The new emphasis on performance appraisal and merit pay calls for a thorough examination of their effectiveness. Pay for Performance is the best resource to date on the issues of whether these concepts work and how they can be applied most effectively in the workplace. This important book looks at performance appraisal and pay practices in the private sector and describes whetherâ€"and howâ€"private industry experience is relevant to federal pay reform. It focuses on the needs of the federal government, exploring how the federal pay system evolved; available evidence on federal employee attitudes toward their work, their pay, and their reputation with the public; and the complicating and pervasive factor of politics.

Nonprofit Executive Compensation

Author : Brian H. Vogel
Publisher : Boardsource
ISBN 13 :
Total Pages : 174 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Nonprofit Executive Compensation by : Brian H. Vogel

Download or read book Nonprofit Executive Compensation written by Brian H. Vogel and published by Boardsource. This book was released on 2010 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing Without Supervising

Author : William B. Abernathy
Publisher :
ISBN 13 : 9780965527613
Total Pages : 0 pages
Book Rating : 4.5/5 (276 download)

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Book Synopsis Managing Without Supervising by : William B. Abernathy

Download or read book Managing Without Supervising written by William B. Abernathy and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measure What Matters

Author : John Doerr
Publisher : Penguin
ISBN 13 : 052553623X
Total Pages : 322 pages
Book Rating : 4.5/5 (255 download)

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Book Synopsis Measure What Matters by : John Doerr

Download or read book Measure What Matters written by John Doerr and published by Penguin. This book was released on 2018-04-24 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 New York Times Bestseller Legendary venture capitalist John Doerr reveals how the goal-setting system of Objectives and Key Results (OKRs) has helped tech giants from Intel to Google achieve explosive growth—and how it can help any organization thrive. In the fall of 1999, John Doerr met with the founders of a start-up whom he'd just given $12.5 million, the biggest investment of his career. Larry Page and Sergey Brin had amazing technology, entrepreneurial energy, and sky-high ambitions, but no real business plan. For Google to change the world (or even to survive), Page and Brin had to learn how to make tough choices on priorities while keeping their team on track. They'd have to know when to pull the plug on losing propositions, to fail fast. And they needed timely, relevant data to track their progress—to measure what mattered. Doerr taught them about a proven approach to operating excellence: Objectives and Key Results. He had first discovered OKRs in the 1970s as an engineer at Intel, where the legendary Andy Grove ("the greatest manager of his or any era") drove the best-run company Doerr had ever seen. Later, as a venture capitalist, Doerr shared Grove's brainchild with more than fifty companies. Wherever the process was faithfully practiced, it worked. In this goal-setting system, objectives define what we seek to achieve; key results are how those top-priority goals will be attained with specific, measurable actions within a set time frame. Everyone's goals, from entry level to CEO, are transparent to the entire organization. The benefits are profound. OKRs surface an organization's most important work. They focus effort and foster coordination. They keep employees on track. They link objectives across silos to unify and strengthen the entire company. Along the way, OKRs enhance workplace satisfaction and boost retention. In Measure What Matters, Doerr shares a broad range of first-person, behind-the-scenes case studies, with narrators including Bono and Bill Gates, to demonstrate the focus, agility, and explosive growth that OKRs have spurred at so many great organizations. This book will help a new generation of leaders capture the same magic.

Corporate Governance Regimes

Author : Joseph McCahery
Publisher : Oxford University Press, USA
ISBN 13 : 9780199247875
Total Pages : 728 pages
Book Rating : 4.2/5 (478 download)

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Book Synopsis Corporate Governance Regimes by : Joseph McCahery

Download or read book Corporate Governance Regimes written by Joseph McCahery and published by Oxford University Press, USA. This book was released on 2002 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an up-to-the-minute survey of the field of corporate governance, focusing particularly on issues of convergence and diversity. A number of topics are discussed including bankruptcy procedures, initial public offerings, the role of large stakes, comparative corporate governance, and institutional investors.

Performance-related Pay Policies for Government Employees

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264007555
Total Pages : 217 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Performance-related Pay Policies for Government Employees by : OECD

Download or read book Performance-related Pay Policies for Government Employees written by OECD and published by OECD Publishing. This book was released on 2005-05-20 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents an overview of performance-related pay policies (PRP) for government employees in selected OECD member countries over the past two decades. Both the strengths and the weaknesses of PRP policies are assessed. The report explores ...

Drive

Author : Daniel H. Pink
Publisher : Penguin
ISBN 13 : 1101524383
Total Pages : 272 pages
Book Rating : 4.1/5 (15 download)

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Book Synopsis Drive by : Daniel H. Pink

Download or read book Drive written by Daniel H. Pink and published by Penguin. This book was released on 2011-04-05 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestseller that gives readers a paradigm-shattering new way to think about motivation from the author of When: The Scientific Secrets of Perfect Timing Most people believe that the best way to motivate is with rewards like money—the carrot-and-stick approach. That's a mistake, says Daniel H. Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others). In this provocative and persuasive new book, he asserts that the secret to high performance and satisfaction-at work, at school, and at home—is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world. Drawing on four decades of scientific research on human motivation, Pink exposes the mismatch between what science knows and what business does—and how that affects every aspect of life. He examines the three elements of true motivation—autonomy, mastery, and purpose-and offers smart and surprising techniques for putting these into action in a unique book that will change how we think and transform how we live.

An Introduction to Executive Compensation

Author : Steven Balsam
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 for Performance in Health Care

Author : Jerry Cromwell
Publisher : RTI Press
ISBN 13 : 1934831042
Total Pages : 388 pages
Book Rating : 4.9/5 (348 download)

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Book Synopsis Pay for Performance in Health Care by : Jerry Cromwell

Download or read book Pay for Performance in Health Care written by Jerry Cromwell and published by RTI Press. This book was released on 2011-02-28 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a balanced assessment of pay for performance (P4P), addressing both its promise and its shortcomings. P4P programs have become widespread in health care in just the past decade and have generated a great deal of enthusiasm in health policy circles and among legislators, despite limited evidence of their effectiveness. On a positive note, this movement has developed and tested many new types of health care payment systems and has stimulated much new thinking about how to improve quality of care and reduce the costs of health care. The current interest in P4P echoes earlier enthusiasms in health policy—such as those for capitation and managed care in the 1990s—that failed to live up to their early promise. The fate of P4P is not yet certain, but we can learn a number of lessons from experiences with P4P to date, and ways to improve the designs of P4P programs are becoming apparent. We anticipate that a “second generation” of P4P programs can now be developed that can have greater impact and be better integrated with other interventions to improve the quality of care and reduce costs.

Manufacturing Advantage

Author : Eileen Appelbaum
Publisher : Cornell University Press
ISBN 13 : 9780801486555
Total Pages : 280 pages
Book Rating : 4.4/5 (865 download)

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Book Synopsis Manufacturing Advantage by : Eileen Appelbaum

Download or read book Manufacturing Advantage written by Eileen Appelbaum and published by Cornell University Press. This book was released on 2000 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the hoopla surrounding quality circles, teams, and high-performance work systems has been based on anecdotes and very thin evidence. It has not been established that those employee involvement strategies amount to anything more than another series of management fads or ruses designed to get more out of workers without giving them anything in return. This revelatory book, written by some of the skeptics, lays some of the suspicion to rest. Based on their visits to 44 plants and surveys of more than 4,000 employees, Eileen Appelbaum, Thomas Bailey, Peter Berg, and Arne L. Kalleberg concluded that companies are indeed more successful when managers share knowledge and power with workers and when workers assume increased responsibility and discretion. The study of steel, apparel, and medical electronics and imaging plants revealed much. In self-directed teams, workers were able to eliminate bottlenecks and coordinate the work process. In task forces created to improve quality, they communicated with individuals outside their own work groups and were able to solve problems. Expensive equipment in steel mills operated with fewer interruptions, turnaround and labor costs were cut in apparel factories, and costly inventories of components and medical equipment were reduced. And what did the employees think? The worker survey showed that jobs in participatory work systems often provide more challenging tasks and more opportunities for creativity. Employees in apparel had higher hourly earnings; those in steel had both higher hourly earnings and higher job satisfaction. Workers in more participatory settings were no more likely than others to report heavy workloads or excessive demands on their time. They were, however, less likely to report involuntary overtime or conflict with co-workers, and were more likely to be satisfied with their surroundings. Manufacturing Advantage provides the best assessment available of the effectiveness of high-performance work systems. Freestanding chapters near the end of the book provide full documentation of research data without interrupting the narrative flow.

Designing an Effective Pay for Performance Compensation System

Author : Cynthia H. Ferentinos
Publisher :
ISBN 13 : 9781422305881
Total Pages : 51 pages
Book Rating : 4.3/5 (58 download)

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Book Synopsis Designing an Effective Pay for Performance Compensation System by : Cynthia H. Ferentinos

Download or read book Designing an Effective Pay for Performance Compensation System written by Cynthia H. Ferentinos and published by . This book was released on 2006-07 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal Government agencies are moving to better align pay with performance & create organizational cultures that emphasize performance rather than tenure. However, agencies must invest time, money, & effort in the design of their pay for performance compensation systems in order to succeed. To help agencies understand the critical prerequisites to success & key decision points, a review was conducted of professional & academic writings on the topic of pay for performance. This user-friendly guide summarizes the research findings. Contents: a summary of pay for performance; benefits & risks associated with pay for performance; pay for performance decision points; conclusions & recommendations; & bibliography. Illustrations.