Pay without performance : the unfulfilled promise of executive compensation / Lucian Bebchuk and Jesse Fried.

Author
Bebchuk, Lucian A. [Browse]
Format
Book
Language
English
Published/​Created
Cambridge, Mass. : Harvard University Press, 2004.
Description
xii, 278 p. ; 25 cm.

Availability

Copies in the Library

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Firestone Library - Stacks HD4965.2 .B43 2004 Browse related items Request

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    Subject(s)
    Summary note
    "Pay without Performance presents a disconcerting portrait of executives' power to influence their own pay - and of the structural defects in corporate governance that give them this power. As this book demonstrates, boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. Lucian Bebchuk and Jesse Fried give a richly detailed account of how pay practices - from option plans to retirement benefits - have decoupled compensation from performance and camouflaged both the amount and the performance-insensitivity of pay. They show that flaws in pay arrangements and the pay-setting process have been widespread and systemic. These problems have hurt shareholders both by increasing pay levels and, even more important, by leading to practices that dilute and distort managers' incentives."--Jacket.
    Bibliographic references
    Includes bibliographical references (p. 217-270) and index.
    Contents
    • The official view and its shortcomings
    • Power and pay
    • Decoupling pay from performance
    • Going forward.
    ISBN
    • 0674016653 ((alk. paper))
    • 9780674016651 ((alk. paper))
    • 0674022289
    • 9780674022287
    LCCN
    2004052253
    OCLC
    55229155
    International Article Number
    • 9780674016651
    Statement on language in description
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