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| Tekijä: | Forbes, W. Watson, R. |
| Otsikko: | Managerial remuneration and corporate governance: a review of the issues, evidence and Cadbury committee proposals |
| Lehti: | Accounting and Business Research
1993 : VOL. 23:91A, p. 331-338 |
| Asiasana: | PAY UNITED KINGDOM COMMITTEES |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the UK system of corporate governance, the remuneration of senior executives and the Cadbury Committee's proposals for increasing managerial accountability to shareholders. The authors argue that the UK governance system does not provide shareholders with incentives to seek "voice" solutions to problems of corporate governance and that Cadbury proposals, which rely on market-based regulation, will do little to alter this. The design and monitoring of executive remuneration schemes is costly and, because of lack of transparency, it is unclear that these performance related schemes are necessarily in shareholders' interests. |
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