This paper sets out the results of interview-based research into the way inwhich executive directors’ remuneration is set in two UK utilities. Although thesubject of executive directors’ remuneration has been widely researched, littlework has addressed the question ‘how is the directors’...

Much has been written about the phenomenon of ever-increasing executive pay inlisted companies. This paper examines some of the underlying reasons for thiscontinued increase in executive directors’ remuneration. It reports the resultsof 40 interviews with protagonists in the remuneration...

This thesis has adopted a qualitative approach to research into executive remuneration, to look inside the 'black box' of process. Executives, nonexecutives and others involved in the remuneration-setting process were interviewed in order to establish how executive remuneration is determined. In...