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Agency Theory and Executive Pay

The Remuneration Committee's Dilemma

Authors: Pepper, Alexander

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  • Provides up to date examples and case studies to help illustrate the arguments
  • Describes the standard model of the firm before providing a critique of the three main premises on which the model is based
  • Describes a modified design-framework for executive pay plans based on recent developments in behavioural science
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eBook $54.99
price for USA in USD (gross)
  • ISBN 978-3-319-99969-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $69.99
price for USA in USD
  • ISBN 978-3-319-99968-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This new book examines the relationship between agency theory and executive pay. It argues that while Jensen and Meckling (1976) were right in their analysis of the agency problem in public corporations they were wrong about the proposed solutions. Drawing on ideas from economics, psychology, sociology and the philosophy of science, the author explains how standard agency theory has contributed to the problem of executive pay rather than solved it. The book explores why companies should be regarded as real entities not legal fictions, how executive pay in public corporations can be conceptualised as a collective action problem and how behavioral science can help in the design of optimal incentive arrangements. An insightful and revolutionary read for those researching corporate governance, HRM and organisation theory, this useful book offers potential solutions to some of the problems with executive pay and the standard model of agency. 


  

About the authors

Alexander Pepper is Professor of Management Practice at the London School of Economics and Political Science, UK.  He previously had a long career at PwC, where he was a global leader of PwC’s Human Resource Services consulting practice from 2002-2006.  He has authored two books, Senior Executive Reward (2006), and The Economic Psychology of Incentives published by Palgrave Macmillan in 2015.


Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook $54.99
price for USA in USD (gross)
  • ISBN 978-3-319-99969-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $69.99
price for USA in USD
  • ISBN 978-3-319-99968-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Agency Theory and Executive Pay
Book Subtitle
The Remuneration Committee's Dilemma
Authors
Copyright
2019
Publisher
Palgrave Pivot
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature
eBook ISBN
978-3-319-99969-2
DOI
10.1007/978-3-319-99969-2
Hardcover ISBN
978-3-319-99968-5
Edition Number
1
Number of Pages
XI, 133
Number of Illustrations
8 b/w illustrations
Topics