Performance and reward : managing executive pay to deliver shareholder value
著者
書誌事項
Performance and reward : managing executive pay to deliver shareholder value
Matador, c2006
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Performance & reward
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注記
Includes bibliographical references (p. 250-252) and index
内容説明・目次
内容説明
Shareholders always complain about executive pay...performance links are too weak...levels too high. So what can be done to address this? How can it be shown that executive pay really is designed to create shareholder value? This book tackles executive pay from the start, looking at what shareholders want. It takes a rigorous look at what is meant by 'performance', and what we seek to achieve by linking pay to performance. It examines the current forms of executive pay and shows where things go wrong for the shareholder. Better still, it shows how these problems can be fixed. Finally, the book examines the dynamics that drive the level of executive pay, suggesting changes that can be made so that the shareholder interest is met. The unique approach set out here starts from its focus on the creation of long term shareholder value. It is systematic in its examination of incentives at every level, and in examining arguments about executive pay. It gets beneath the spin, showing where the shareholder interest really lies. This is a must read for those involved with executive pay policy.
Remuneration committees and consultants can use it to steer executive pay in a new direction; shareholders can use it to evaluate executive pay, and propose changes to safeguard their interests. In addition, policy makers will find it an essential reference...and company directors need to know what this book says.
目次
1 Different perspectives on performance 2 Linking performance and reward 3 Two key questions on incentive alignment 4 Typical reward packages 5 Annual bonus schemes 6 Long Term Incentive Plans (LTIPs) 7 Fully Invariable Linear Long-term Incentive Plans (FILLIPs) 8 Remaining problems and issues with FILLIPs 9 Share Option Schemes (SOSs) 10 Fixed pay 11 Factors influencing executive pay 12 The level of executive pay 13 The shareholder response 14 The future of executive pay Appendix 1: TSR definition and example Appendix 2: Layout for executive pay report Appendix 3: Research on immediate verses deferred rewards Appendix 4: Modelling the value of Typico's LTIP Appendix 5: Rules of a FILLIP
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