In March 2010, Japanese regulators implemented the country's first legislation concerning the disclosure of director compensation for named individuals. Using the first publicly available data for Japanese executives, we document direct evidence on the level, structure, and mechanisms of CEO...

A cautionary tale -- The sources of the problem -- The accounting story -- FAS 123R : what it is and how it came to be -- FAS 123R : the good, the bad, and the unfinished -- Corporate governance and compensation -- Making options performance-based -- Designing a balanced incentive portfolio --...

In this study, we examine the three components of executive compensation including salary, equity, and bonus pay over a CEO’s tenure for US publicly-traded firms. We confirm a positive and significant relationship between two separate measures of firm performance and incentive pay. We also...