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This essay reviews Bebchuk and Fried's quot;Pay without Performance: The Unfulfilled Promise of Executive Compensationquot;. Bebchuk and Fried criticize the standard view of executive compensation, in which executives negotiate contracts with shareholders that provide incentives that motivate...
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Prologue: the compensation committee meets -- Introduction: the battle over executive compensation -- Executive compensation in the U.S. corporate model -- The goals of executive compensation -- Our approach -- The myths and realities of pay for performance -- The realities of pay for...
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