Too much is not enough: incentives in executive compensation
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Oxford [u.a.]
Oxford Univ. Press
2012
|
| Schriftenreihe: | Financial Management Association survey and synthesis series
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | XI, 216 S. graph. Darst. 25 cm |
| ISBN: | 9780199829583 0199829586 |
Internformat
MARC
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| 020 | |a 9780199829583 |c cloth : alk. paper |9 978-0-19-982958-3 | ||
| 020 | |a 0199829586 |c cloth : alk. paper |9 0-19-982958-6 | ||
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| 100 | 1 | |a Kolb, Robert W. |d 1949- |e Verfasser |0 (DE-588)130361240 |4 aut | |
| 245 | 1 | 0 | |a Too much is not enough |b incentives in executive compensation |c Robert W. Kolb |
| 264 | 1 | |a Oxford [u.a.] |b Oxford Univ. Press |c 2012 | |
| 300 | |a XI, 216 S. |b graph. Darst. |c 25 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Financial Management Association survey and synthesis series | |
| 500 | |a Includes bibliographical references and index | ||
| 650 | 4 | |a Politik | |
| 650 | 4 | |a Executives |x Salaries, etc |z United States | |
| 650 | 4 | |a Incentives in industry |z United States | |
| 650 | 4 | |a Incentive awards |z United States | |
| 650 | 4 | |a Corporate governance |z United States | |
| 650 | 4 | |a Executives |x Salaries, etc |x Government policy |z United States | |
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| 650 | 0 | 7 | |a Unternehmensleitung |0 (DE-588)4233771-9 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Führungskraft |0 (DE-588)4071497-4 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Management |0 (DE-588)4037278-9 |2 gnd |9 rswk-swf |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-026185204 | ||
Datensatz im Suchindex
| _version_ | 1804150642101452800 |
|---|---|
| adam_text | { CONTENTS }
Preface
ix
ι.
The Magnitude
and
Structure
of
Executive
Compensation
ι
The Magnitude of CEO Compensation
2
The Structure of Executive Compensation
11
Salary
12
Bonuses and
Long-Term
Incentive Plans
14
Restricted Stock Awards
16
Executive Stock Option
(ESO)
Awards
17
Other Forms of Compensation
29
2.
Corporate Governance, Agency Problems, and
Executive Compensation
24
Corporate Governance
24
Agency Theory and Incentive Alignment
27
Corporate Governance, Incentive Alignment, and the Managerial
Power Hypothesis
32
The Levers of Managerial Power
33
Limits to Pay in the Managerial Power Hypothesis
35
Assessing the Conceptual Conflict Between the Agency-Theoretic
and Managerial Power Views of Executive Compensation
36
What About Ethics, Duty, and Justice?
39
Fiduciary Duty
41
Executive
Compensation
and Distributive Justice
41
3.
The Incentive Structure of Executive Compensation
45
The Incentive Revolution and Executive Compensation
45
Salary
48
Bonuses
49
Restricted Stock and Performance Shares
53
Executive Stock Options
56
Equity Compensation: Retaining the Employees You Have and
Attracting the Ones You Want
62
Different Instruments as Tools of Incentive Compensation
64
4.
Executive Stock Options and the Incentives They Create
66
ESO
Incentives, Firm Practices, and
the Effect of Accounting Rules
66
Option Pricing Models
69
Option Valuation Effects of Individual Option Parameters
70
viii Contents
The Option Pricing Model and Incentives
74
Executive Stock Option Design, Management, and Incentives
77
What Exercise Price?
79
Repricing
and Reloading Executive Stock Options
81
The CEO s Utility and the Desire for ESOs
85
5.
Executive Stock Option Programs: The Behavior of CEOs,
Firms, and Investors
89
CEO Wealth, Pay, and Performance
89
Exercise of ESOs
95
Unwinding Incentives
101
6.
Executive Incentives and Risk Taking
104
Equity Compensation and the CEO s Risk Appetite
109
Executive Compensation and the Risk-Taking Behavior of CEOs
113
Incentive Compensation, Risk Taking, and the Financial Crisis
of
2007-2009 118
7.
Incentive Compensation and the Management of the Firm
121
Incentive Compensation and the Firm s Investment Program
122
CEO Incentives and the Firm s Financing Decisions
125
Compensation Incentives, Dividends, and Share Repurchases
129
Corporate Mergers, Acquisitions, and Liquidations
131
Compensation Incentives and Corporate Risk Management
134
Compensation Incentives and Corporate Disclosures
137
8.
Perverse Incentive Effects: Executives Behaving Badly
140
Earnings Management
141
Option Games and Exploitation
147
Option Games: A Warning About Incentives in
Executive Compensation
153
9.
Incentives in Executive Compensation: A Final Assessment
155
Incentive Compensation and the Level of Executive Pay
155
New Legislation and the Shaping of Incentives
156
How Dysfunctional Is Executive Pay?
158
On Balance, Is Incentive Compensation Beneficial?
159
To Improve Executive Compensation, Improve Corporate Governance
160
Executive Pay, Continuing Inequality, and the Question of Justice
162
Appendix
163
Notes
167
Bibliography
193
Index
209
|
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| geographic_facet | USA |
| id | DE-604.BV041210493 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T00:42:10Z |
| institution | BVB |
| isbn | 9780199829583 0199829586 |
| language | English |
| lccn | 2011049486 |
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| physical | XI, 216 S. graph. Darst. 25 cm |
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| series2 | Financial Management Association survey and synthesis series |
| spelling | Kolb, Robert W. 1949- Verfasser (DE-588)130361240 aut Too much is not enough incentives in executive compensation Robert W. Kolb Oxford [u.a.] Oxford Univ. Press 2012 XI, 216 S. graph. Darst. 25 cm txt rdacontent n rdamedia nc rdacarrier Financial Management Association survey and synthesis series Includes bibliographical references and index Politik Executives Salaries, etc United States Incentives in industry United States Incentive awards United States Corporate governance United States Executives Salaries, etc Government policy United States Vergütung (DE-588)4062855-3 gnd rswk-swf Unternehmensleitung (DE-588)4233771-9 gnd rswk-swf Führungskraft (DE-588)4071497-4 gnd rswk-swf Management (DE-588)4037278-9 gnd rswk-swf Anreizsystem (DE-588)4112532-0 gnd rswk-swf USA Führungskraft (DE-588)4071497-4 s Management (DE-588)4037278-9 s Unternehmensleitung (DE-588)4233771-9 s Vergütung (DE-588)4062855-3 s Anreizsystem (DE-588)4112532-0 s DE-604 Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026185204&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Kolb, Robert W. 1949- Too much is not enough incentives in executive compensation Politik Executives Salaries, etc United States Incentives in industry United States Incentive awards United States Corporate governance United States Executives Salaries, etc Government policy United States Vergütung (DE-588)4062855-3 gnd Unternehmensleitung (DE-588)4233771-9 gnd Führungskraft (DE-588)4071497-4 gnd Management (DE-588)4037278-9 gnd Anreizsystem (DE-588)4112532-0 gnd |
| subject_GND | (DE-588)4062855-3 (DE-588)4233771-9 (DE-588)4071497-4 (DE-588)4037278-9 (DE-588)4112532-0 |
| title | Too much is not enough incentives in executive compensation |
| title_auth | Too much is not enough incentives in executive compensation |
| title_exact_search | Too much is not enough incentives in executive compensation |
| title_full | Too much is not enough incentives in executive compensation Robert W. Kolb |
| title_fullStr | Too much is not enough incentives in executive compensation Robert W. Kolb |
| title_full_unstemmed | Too much is not enough incentives in executive compensation Robert W. Kolb |
| title_short | Too much is not enough |
| title_sort | too much is not enough incentives in executive compensation |
| title_sub | incentives in executive compensation |
| topic | Politik Executives Salaries, etc United States Incentives in industry United States Incentive awards United States Corporate governance United States Executives Salaries, etc Government policy United States Vergütung (DE-588)4062855-3 gnd Unternehmensleitung (DE-588)4233771-9 gnd Führungskraft (DE-588)4071497-4 gnd Management (DE-588)4037278-9 gnd Anreizsystem (DE-588)4112532-0 gnd |
| topic_facet | Politik Executives Salaries, etc United States Incentives in industry United States Incentive awards United States Corporate governance United States Executives Salaries, etc Government policy United States Vergütung Unternehmensleitung Führungskraft Management Anreizsystem USA |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026185204&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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