Executive Stock Option Programs (SOPs) have become the dominant compensation instrument for top-management in recent years. The incentive effects of an SOP both with respect to corporate investment and financing decisions critically depend on the design of the SOP. A specific problem in...

Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the noise and distortion of a performance measure can be...

Purpose – This paper develops a discussion looking at whether CEO and Executive Director Remuneration have an impact on Firm Performance. Design/methodology/approach – This study entails Australia, The United States of America and The United Kingdom. The data collected is from public listed...

I investigate firm financial management when the CFO has greater authority by being on the board and the corresponding changes when the CFO position leaves the board. After the 2002 regulatory changes on board composition requirements, determinants of CFO board membership shift from being driven...

Distorted performance measures in compensation contracts elicit suboptimal behavioral responses that may even prove to be dysfunctional (gaming). This paper applies the empirical test developed by Courty and Marschke (2008) to detect whether the widely used class of Residual Income based...

The majority of present-day investigators have come to the general consensus, according to which for an objective evaluation of the top management activities in a company, it is imperative that the results of their performance be evaluated by the market, rather than by the subjective human...

This article examines the regulation of directors remuneration in EU, UK and Belgian law. The author argues that there are two categorises of norms for the regulatory framework of directors remuneration: one is market-based, market efficiency norms of agency costs; the other is socio-legal...

Over the past two decades, hedge fund activism has emerged as a new mechanism of corporate governance that brings about operational, financial and governance reforms to a corporation. Many prominent business executives and legal scholars are convinced that the entire American economy will suffer...

This paper develops a discussion looking at whether CEO Remuneration has an impact on Firm Performance after the Global Financial Crisis (GFC). This study entails Australian CEO's and Firms and the data collected is from public listed corporations from 2010-2012. The developed models are...

This paper develops a discussion around the Executive “Efficiency Index” as to its nature and importance.This study entails US, UK and Australian CEO's and Executive Director Remuneration and Profit data from public listed firms.The data collected is from public listed corporations from...