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Executive Compensation and Shareholder Value

Theory and Evidence

  • Book
  • © 1999

Overview

Editors:
  1. Jennifer Carpenter

    1. Stern School of Business, New York University, USA

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    You can also search for this editor in PubMed   Google Scholar

  2. David Yermack

    1. Stern School of Business, New York University, USA

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-ix
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  2. Part One

    1. Front Matter

      Pages 1-1
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    2. Top executive incentives in Germany, Japan and the USA: a comparison

      • Steven N. Kaplan
      Pages 3-12

    3. Corporate governance, executive pay and performance in Europe

      • Martin J. Conyon, Joachim Schwalbach
      Pages 13-33

    4. A better way to pay CEOs?

      • Brian J. Hall
      Pages 35-46

    5. The winner-takes-all: an alternative view of CEO incentives

      • Todd T. Milbourn
      Pages 47-52

  3. Part Two

    1. Front Matter

      Pages 53-53
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    2. Dual agency: corporate boards with reciprocally interlocking relationships

      • Kevin F. Hallock
      Pages 55-75

    3. Discussion of Hallock paper on reciprocal interlocks

      • Arthur H. Rosenbloom
      Pages 77-79

  4. Part Three

    1. Front Matter

      Pages 81-81
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    2. The rise and fall of executive share options in Britain

      • Brian G. M. Main
      Pages 83-113

    3. Patterns of stock option exercise in the United States

      • Steven Huddart
      Pages 115-142

    4. Discussant comments

      • Steve Matsunaga
      Pages 143-146

    5. Discussant comments

      • John Samuels
      Pages 147-148

  5. Back Matter

    Pages 149-159
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Keywords

About this book

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.

Editors and Affiliations

  • Stern School of Business, New York University, USA

    Jennifer Carpenter, David Yermack

Bibliographic Information

  • Book Title: Executive Compensation and Shareholder Value

  • Book Subtitle: Theory and Evidence

  • Editors: Jennifer Carpenter, David Yermack

  • Series Title: The New York University Salomon Center Series on Financial Markets and Institutions

  • DOI: https://doi.org/10.1007/978-1-4757-5192-5

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media Dordrecht 1999

  • Hardcover ISBN: 978-0-7923-8179-2Published: 31 December 1998

  • Softcover ISBN: 978-1-4419-5041-3Published: 07 December 2010

  • eBook ISBN: 978-1-4757-5192-5Published: 17 April 2013

  • Series ISSN: 1387-6899

  • Edition Number: 1

  • Number of Pages: X, 160

  • Topics: Finance, general, Management

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