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.

Handbook of the Economics of Finance

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Author :
Publisher : Elsevier
ISBN 13 : 9780444513632
Total Pages : 698 pages
Book Rating : 4.5/5 (136 download)

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Book Synopsis Handbook of the Economics of Finance by : G. Constantinides

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

Executive Compensation, Corporate Governance, and Say on Pay

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Author :
Publisher :
ISBN 13 : 9781680834215
Total Pages : 103 pages
Book Rating : 4.8/5 (342 download)

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Book Synopsis Executive Compensation, Corporate Governance, and Say on Pay by : Fabrizio Ferri

Download or read book Executive Compensation, Corporate Governance, and Say on Pay written by Fabrizio Ferri and published by . This book was released on 2018 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph explores the relation between corporate governance and executive compensation and evaluates the conditions under which shareholders can benefit from the right to interfere with the pay setting process by voting on the compensation proposed by the board of directors (Say on Pay). The first part of the monograph lays out the theoretical framework. The second part provides an overview of the origins and country-specific differences in Say on Pay regulation and a detailed summary and evaluation of the empirical literature on the subject.

Corporate Governance Matters

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Publisher : FT Press
ISBN 13 : 0132367076
Total Pages : 497 pages
Book Rating : 4.1/5 (323 download)

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Book Synopsis Corporate Governance Matters by : David Larcker

Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2011-04-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.

Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors

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Author :
Publisher : OECD Publishing
ISBN 13 : 9264116052
Total Pages : 78 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors by : OECD

Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.

Hedge Fund Activism

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Publisher : Now Publishers Inc
ISBN 13 : 1601983387
Total Pages : 76 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Hedge Fund Activism by : Alon Brav

Download or read book Hedge Fund Activism written by Alon Brav and published by Now Publishers Inc. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

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.

Company Law and Sustainability

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Publisher : Cambridge University Press
ISBN 13 : 1107043271
Total Pages : 373 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Company Law and Sustainability by : Beate Sjåfjell

Download or read book Company Law and Sustainability written by Beate Sjåfjell and published by Cambridge University Press. This book was released on 2015-05-21 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advances an innovative, multi-jurisdictional argument for the necessity of company law reform to reorient companies towards environmental sustainability.

Effective Directors

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Publisher : Routledge
ISBN 13 : 1000431983
Total Pages : 274 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Effective Directors by : Charlotte Valeur

Download or read book Effective Directors written by Charlotte Valeur and published by Routledge. This book was released on 2021-10-10 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. Being a good board member is not about knowing everything; it is about asking the right questions and challenging appropriately. Effective Directors: The Right Questions To Ask (QTA) is a reference book for board members and executives globally to support them in their work. With chapters written by senior company board members and respected figures in corporate governance, the questions have been drawn together to offer food for thought and useful prompts that take boards beyond operational discussions. The book clearly presents key areas to be considered by the board (there are over 50 in total) and range from board composition, to data security, diversity and inclusion, and succession planning. The questions are ones that boards, in any organisation, should be asking themselves, their fellow board members, service providers, executives, and other stakeholders to ensure that the right issues are raised, transparency and effective oversight are achieved, and the board is fulfilling its role in governing the organisation. In addition to being invaluable for board members, the book is also a very useful tool for executives in understanding the kind of questions their board members are likely to ask, and the kind of questions that should be asked and discussed in the boardroom.

Quality Shareholders

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Publisher : Columbia University Press
ISBN 13 : 0231552777
Total Pages : 215 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Quality Shareholders by : Lawrence A. Cunningham

Download or read book Quality Shareholders written by Lawrence A. Cunningham and published by Columbia University Press. This book was released on 2020-11-03 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anyone can buy stock in a public company, but not all shareholders are equally committed to a company’s long-term success. In an increasingly fragmented financial world, shareholders’ attitudes toward the companies in which they invest vary widely, from time horizon to conviction. Faced with indexers, short-term traders, and activists, it is more important than ever for businesses to ensure that their shareholders are dedicated to their missions. Today’s companies need “quality shareholders,” as Warren Buffett called those who “load up and stick around,” or buy large stakes and hold for long periods. Lawrence A. Cunningham offers an expert guide to the benefits of attracting and keeping quality shareholders. He demonstrates that a high density of dedicated long-term shareholders results in numerous comparative and competitive advantages for companies and their managers, including a longer runway to execute business strategy and a loyal cohort against adversity. Cunningham explores dozens of corporate practices and policies—such as rational capital allocation, long-term performance metrics, and a shareholder orientation—that can help shape the shareholder base and bring in committed owners. Focusing on the benefits for corporations and their investors, he reveals what draws quality shareholders to certain companies and what it means to have them in an investor base. This book is vital reading for investors, executives, and directors seeking to understand and attract the kind of shareholders that their companies need.

Corporate Governance Around the World

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Author :
Publisher : Routledge
ISBN 13 : 1134087888
Total Pages : 545 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Corporate Governance Around the World by : Ahmed Naciri

Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.

The Financial Crisis Inquiry Report

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Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Corporate Boards in European Law

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Publisher :
ISBN 13 : 0198705158
Total Pages : 867 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis Corporate Boards in European Law by : Paul Lyndon Davies

Download or read book Corporate Boards in European Law written by Paul Lyndon Davies and published by . This book was released on 2013-11 with total page 867 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses corporate boards; their regulation in law and codes, and their actual operation in ten European countries in a functional and comparative method. Issues addressed include: board structure, composition and functioning, enforcement by liability rules, incentive structures and shareholder activism.

The Case for a Maximum Wage

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Publisher : John Wiley & Sons
ISBN 13 : 1509524959
Total Pages : 140 pages
Book Rating : 4.5/5 (95 download)

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Book Synopsis The Case for a Maximum Wage by : Sam Pizzigati

Download or read book The Case for a Maximum Wage written by Sam Pizzigati and published by John Wiley & Sons. This book was released on 2018-06-04 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern societies set limits, on everything from how fast motorists can drive to how much waste factory owners can dump in our rivers. But incomes in our deeply unequal world have no limits. Could capping top incomes tackle rising inequality more effectively than conventional approaches? In this engaging book, leading analyst Sam Pizzigati details how egalitarians worldwide are demonstrating that a “maximum wage” could be both economically viable and politically practical. He shows how, building on local initiatives, governments could use their tax systems to enforce fair income ratios across the board. The ultimate goal? That ought to be, Pizzigati argues, a world without a super rich. He explains why we need to create that world — and how we could speed its creation.

The Shareholder Value Myth

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

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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

Directors' Remuneration

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Author :
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Directors' Remuneration by : Study Group on Directors' Remuneration

Download or read book Directors' Remuneration written by Study Group on Directors' Remuneration and published by . This book was released on 1995 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete copy of the Report including the Code of Best Practice. The Study Group on Director's Remuneration was set up on the initiative of the CBI in January 1995 in response to public and shareholder concerns about pay and other remuneration of company directors in the United Kingdom. The report covers code of best practice, main action points, remuneration committees, disclosure, remuneration policy, service contracts and compensation, privatised utilities.

Corporate Governance in Asia

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Author :
Publisher :
ISBN 13 :
Total Pages : 220 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Corporate Governance in Asia by : Sang-Woo Nam

Download or read book Corporate Governance in Asia written by Sang-Woo Nam and published by . This book was released on 2004 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: