Ira Kay

Myths and Realities of Executive Pay (eBook, PDF)

• Format: PDF

Produktbeschreibung

Popular perceptions of executive compensation in the United States are now part of a full-blown mythology fueled by critics who have little direct experience with the inner workings of corporations, their boards, and the executive teams who ultimately shoulder the responsibility for business success or failure. This book documents the realities of executive compensation by investigating the extent to which the pay for performance model governs executive pay levels. It also assesses the relative success of this model in creating value for shareholders and robust job growth for U.S. workers and provides detailed, real-world guidance for designing and executing effective executive compensation plans. Based on extensive empirical research and decades of direct experience in the field, Myths and Realities of Executive Pay settles the debate about executive compensation and the role it plays in the broader U.S. economy.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 27. August 2007
• Englisch
• ISBN-13: 9780511332333
• Artikelnr.: 53342003

Autorenporträt

Ira T. Kay, global practice director of executive compensation consulting at Watson Wyatt Worldwide in Washington, DC, is a nationally recognized expert on executive compensation. He has helped U.S. public, private, and international companies develop annual and long-term incentive plans to increase shareholder value. Dr. Kay has written and spoken extensively on executive compensation issues and conducted research on executive pay, stock ownership, and stock options. He is coauthor of the book The Human Capital Edge and is the author of CEO Pay and Shareholder Value: Helping the U.S. Win the Global Economic War and Value at the Top: Solutions to the Executive Compensation Crisis. Dr. Kay has published articles in the Harvard Business Review, McKinsey Quarterly, Journal of Deferred Compensation, and Across the Board. He has also presented analysis of executive compensation issues before the Federal Reserve Board, the Securities and Exchange Commission, the Financial Accounting Standards Board, and a U.S. Senate subcommittee. He is frequently quoted in the major business press and speaks globally on executive compensation issues.

Inhaltsangabe

Prologue: the compensation committee meets
Introduction: the battle over executive compensation
1. The myths and realities of pay for performance
2. The myth of managerial power
3. External pressures: the new context for executive compensation
4. End of an era: the decline of the stock option
5. The future of long-term incentives
6. Executive stock ownership: the solution to the executive compensation crisis
7. Director compensation in the new environment
8. The compensation committee: creating a balance between shareholders and executives
9. Aligning all employee pay to improve corporate performance
10. International executive pay comparisons
Conclusion: the future of executive compensation
Epilogue: back in the boardroom
Appendix A. Legal and regulatory requirement for executive compensation plans
Appendix B. Summary of the regulatory and institutional mandates and recommendations
Appendix C. Academic articles on pay for performance and the executive labor market.