“Say on pay” legislation has been introduced in several countries but Australia's version, namely the “two-strikes” rule, is unique in that it empowers shareholders to vote on a board spill if the compensation report of a public company receives 25% or more dissenting votes for two...

We examine a firm’s decision to announce a cut to CEO pay in response to challenges arising from the COVID-19 pandemic. The rationale behind these announcements and the extent of the pay cuts, however, have been widely questioned. Specifically, we examine whether the announcement of a CEO pay...