Say on Pay and Executive Compensation Issues

Criticism that the compensation awarded to senior executives of publicly traded U.S. firms is excessive has a long, albeit somewhat cyclical history. The current financial crisis and public outrage over the size of executive pay packages, particularly bonuses, paid to senior management (and in some cases also to junior employees) of participants in the Troubled Asset Relief Program (TARP) have resulted in a renewed focus on executive pay and corporate governance. The scrutiny also involved widely held concerns that financial firm pay packages encouraged the kinds of reckless risk taking that many believe was at the centre of the financial crisis. This book explores the say on pay initiatives, corporate governance reforms, and other executive compensation issues.