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| Author: | Matsumura, E. M. Shin, J. Y. |
| Title: | Corporate governance reform and CEO compensation: intended and unintended consequences |
| Journal: | Journal of Business Ethics
2005 : DEC I, VOL 62:2, p. 101-113 |
| Index terms: | corporate governance executives chief executive officers compensation stocks agency theory ethics stock options |
| Language: | eng |
| Abstract: | Constraining CEO compensation and reforming the associated corporate governance structure has been the topic of recent discussion. This article goes through the structure of the compensation and the surrounding agency theory, and presents some critique. It discusses the following recommendations for reform: require greater independence of compensation committees, require executives to hold equity in the corporation, require greater disclosure of executive compensation, increase institutional investor involvement in corporate governance and require firms to expense stock options on their income statements. |
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