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Reflections on CEO compensation
In his testimony before the Committee on Financial Services of the US House of Representatives, University of Chicago professor Steven N. Kaplan makes three principal arguments in defense of executive compensation. First, Kaplan argues that "during the past 15 years, the period in which CEO pay has been criticized, the US economy has done extremely well." Of course that's true. But corporate profits have, over time, grown at about the rate the economy has grown -- no more, no less. Kaplan's position is that the rise in CEO compensation appears to be largely driven by market forces. The author has no reason to doubt Kaplan's conclusions that CEOs managing companies whose stocks have provided higher returns have received systematically higher compensation. The evidence is that, contrary to Kaplan's conclusion, CEO compensation is seriously out of line, and too often has provided excessive and unreliable lottery-type rewards based on evanescent stock prices rather than durable intrinsic corporate value..Printed journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| AMP2202 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Briarcliff Manor, NY: Academy of Management 2008 |
|---|---|
| Edisi | Vol. 22, No. 2, May, 2008 |
| Subjek | Stock options Financial crisis Corporate governance Income inequality Agency problem CEO compensation Intrinsic Value shareholder accountability clawback provisions |
| ISBN/ISSN | 15589080 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 5 p. |
| Info Detail Spesifik | Academy of Management Perspectives |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |