Provides a detailed account of how corporate boards have failed to negotiate with executives and how pay practices have decoupled compensation from performance, leading to practices that dilute manager incentives and hurt shareholders.
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In times both bullish and bearish, there is periodic outrage over huge compensation packages for executives at publicly traded companies. The recent wave of corporate scandals only inflamed concerns that companies' boards of directors, too cozy with CEO's, were betraying their duty to shareholders. Reacting, defenders of corporate America have often offered 'rotten apple' theories and other explanations that deny any systemic problem. Inadequate, say Lucian Bebchuk, a professor of law, economics, and finance at Harvard University, and Jesse Fried, a professor of law at the University of California at Berkeley. In "Pay Without Performance", the scholars uncover what they say are widespread, persistent, and indeed systemic flaws in compensation arrangements.--Nina C. Ayoub"Chronicle of Higher Education" (12/03/2004)
'Pay Without Performance' presents a disconcerting portrait of managers' influence over their own pay - and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders.
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Zustand: Muy bueno. : En 'Pay without Performance: The Unfulfilled Promise of Executive Compensation', Lucian Bebchuk y Jesse Fried examinan las fallas estructurales en el gobierno corporativo que han llevado a distorsiones generalizadas en la remuneración de los ejecutivos. El libro detalla cómo los consejos corporativos no han negociado de manera justa con los ejecutivos, lo que ha resultado en prácticas de pago que no están vinculadas al rendimiento real. Los autores argumentan que se deben realizar cambios fundamentales en el sistema de gobierno para restaurar la integridad corporativa y mejorar el rendimiento de las empresas, haciendo que los consejos sean más dependientes de los accionistas. EAN: 9780674016651 Tipo: Libros Categoría: Negocios y Economía Título: Pay without Performance Autor: Lucian Bebchuk| Jesse Fried Editorial: Harvard University Press Idioma: en Páginas: 304 Formato: tapa dura. Artikel-Nr. Happ-2025-10-03-67483242
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