EXECUTIVE REMUNERATION AND EMPLOYEE PERFORMANCE-RELATED PAY by Tito Boeri (Editor), Claudio Lucifora (Editor), Kevin J. Murphy (Editor) ( 9780199669806 )

Item Details

Title:

EXECUTIVE REMUNERATION AND EMPLOYEE PERFORMANCE-RELATED PAY
A TRANSATLANTIC PERSPECTIVE

By:

Tito Boeri (Editor), Claudio Lucifora (Editor), Kevin J. Murphy (Editor)

Format:

Hardback

List price:

£120.00

Our price:

£116.40

Discount:

3% off

You save:

£3.60

ISBN 10:

0199669805

ISBN 13:

9780199669806

Availability:

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Stock:

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Publisher:

OXFORD UNIVERSITY PRESS

Pub. date:

28 March, 2013

Series:

Fondazione Rodolfo Debendetti Reports

Pages:

320

Description:

The compensation packages of a growing proportion of firms include pay schemes that are linked to employee or company performance, yet little is known about the patterns of performance related pay. This book compares US and European CEOs to investigate the evolution of executive compensation, its controversies, and its resulting regulations.

Synopsis:

The recent financial crisis has created a public outcry over top-executive pay packages and has led to calls for reform of executive pay in Europe and the US. The current controversy is not the first - nor will it be the last - time that executive compensation has sparked outrage and led to regulation on both sides of the Atlantic. This volume compares US and European CEOs to trace the evolution of executive compensation, its controversies and its resulting regulations. It shows that many features of current executive compensation practices reflect the, often-unintended, consequences of regulatory responses to perceived abuses in top-executive pay, which frequently stem from relatively isolated events or situations. Regulation creates unintended (and usually costly) side effects and it is often driven by political agendas rather than shareholder value. Improvements in executive compensation are more likely to come from stronger corporate governance, and not through direct government intervention. The volume also examines the effects of incentive schemes and the patterns of performance related pay both within and across countries.It documents a number of empirical regularities and discusses whether government should intervene to support the implementation of incentive pay schemes. It argues that it makes little sense to undertake reform without detailed simulations of the effect on the economy under alternative economic scenarios, based on sound analysis and extensive discussion with labour, management, and government decision-makers.

Illustrations:

30 Figures, 49 Tables, 20 Boxes

Publication:

Imprint:

Oxford University Press

Returns:

Returnable

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