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The Relationship Of Executive Compensation To The Profitability Of Management Controlled Firms
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Book Synopsis The Relationship of Executive Compensation to the Profitability of Management-controlled Firms by : Linda C. Mitchusson
Download or read book The Relationship of Executive Compensation to the Profitability of Management-controlled Firms written by Linda C. Mitchusson and published by . This book was released on 1975 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Executive Compensation and Earnings Management Under Moral Hazard by : Bo Sun
Download or read book Executive Compensation and Earnings Management Under Moral Hazard written by Bo Sun and published by DIANE Publishing. This book was released on 2010-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes executive compensation in a setting where managers may take a costly action to manipulate corporate performance, and whether managers do so is stochastic. Examines how the opportunity to manipulate affects the optimal pay contract, and establishes necessary and sufficient conditions under which earnings management occurs. The author¿s model provides a set of implications on the role earnings management plays in driving the time-series and cross-sectional variation of executive compensation. In addition, the model's predictions regarding the changes of earnings management and executive pay in response to corporate governance legislation are consistent with empirical observations. Charts and tables.
Book Synopsis Compensation and Organizational Performance by : Luis R. Gomez-Mejia
Download or read book Compensation and Organizational Performance written by Luis R. Gomez-Mejia and published by Routledge. This book was released on 2014-12-18 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
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 The Importance of Firm Ownership on CEO Compensation by : Yusuf Nulla
Download or read book The Importance of Firm Ownership on CEO Compensation written by Yusuf Nulla and published by . This book was released on 2013 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important study in executive compensation topic investigated the importance of firm ownership on the CEO compensation system in the New York Stock Exchange (NYSE) companies. This research had compared the CEO compensation system of the owner-managed and the management-controlled companies from 2005 to 2010. The research question for this study was: is there a relationship between the CEO cash compensation, the firm size, the accounting firm performance, and the corporate governance, among the owner-managed and the management-controlled companies? It was found that, there was a relationship between the CEO salary, the CEO bonus, the total compensation, the firm size, the accounting firm performance, and the corporate governance, among the owner-managed and the management-controlled companies.
Book Synopsis Mergers and Acquisitions and Executive Compensation by : Virginia Bodolica
Download or read book Mergers and Acquisitions and Executive Compensation written by Virginia Bodolica and published by Routledge. This book was released on 2015-06-26 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.
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 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.
Book Synopsis The Impact of Type of Control and Industry Concentration on Size and Profitability in the Determination of Executive Income by : Marc J. Wallace
Download or read book The Impact of Type of Control and Industry Concentration on Size and Profitability in the Determination of Executive Income written by Marc J. Wallace and published by . This book was released on 1972 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 184 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 Management Control and the Large Corporation by : Robert J. Larner
Download or read book Management Control and the Large Corporation written by Robert J. Larner and published by [New York] : Dunellen. This book was released on 1971 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Empirical Study of Executive Management Team Compensation and Company Performance by : Gregory A. Jonas
Download or read book An Empirical Study of Executive Management Team Compensation and Company Performance written by Gregory A. Jonas and published by . This book was released on 2007 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing compensation disclosures mandated by the Securities Exchange Commission provide transparency that allows more shareholders to question the results produced by highly compensated executives. The popular business press often decries the apparent imbalance between executive pay and firm performance. Published academic research has responded with hundreds of studies attempting to explain executive pay in terms of firm performance. The preponderance of these studies focus on Chief Executive Officers. This study empirically examines executive compensation for team effects on future firm performance. Applying a firm specific fixed-effects model to a sample of 13,021 firm-year observations from ExecuComp, the current study regresses top management team compensation and control variables on firm performance averaged one, three, and five years following the year of compensation. One accounting based measure of performance (return on assets) and one market based measure of firm performance (shareholder return) is examined over the one three and five year horizons. Consistent with increasing concerns raised by investors regarding excess executive pay, this study finds evidence that higher top management team pay is associated with companies experiencing lower rates of return in the future. However, higher management team pay is associated with higher profits and market value measured in dollars. Theses effects are significantly different between the short-term and long term components of compensation. Although compensation of the team is highly correlated with the CEO, the compensation of the executive team has incremental effects on future firm performance of the company. This study contributes to the executive compensation literature by providing evidence that the compensation of the top management team affects future company performance. The observed impact of management team compensation on company performance is: incremental to CEO effects noted in prior studies, differential between short- and long-term components of compensation, sensitive to the proxy used for company performance, and attenuates over time. These findings suggest that further research on executive management team compensation is merited in order to address an interesting gap in the extant literature.
Download or read book Pay for Results written by Mercer, LLC and published by Wiley. This book was released on 2009-03-30 with total page 256 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.
Book Synopsis Managerial Control and Performance by : William A. MacEachern
Download or read book Managerial Control and Performance written by William A. MacEachern and published by . This book was released on 1975 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
