Indispensable and Other Myths
Why the CEO Pay Experiement Failed and How to Fix it
(Sprache: Englisch)
Prodded by economists in the 1970s, corporate directors began adding stock options and bonuses to the already-generous salaries of CEOs with hopes of boosting their companies' fortunes. Guided by largely unproven assumptions, this trend continues today. So...
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Prodded by economists in the 1970s, corporate directors began adding stock options and bonuses to the already-generous salaries of CEOs with hopes of boosting their companies' fortunes. Guided by largely unproven assumptions, this trend continues today. So what are companies getting in return for all the extra money? Not much, according to the empirical data. In Indispensable and Other Myths: Why the CEO Pay Experiment Failed and How to Fix It, Michael Dorff explores the consequences of this development. He shows how performance pay has not demonstrably improved corporate performance and offers studies showing that performance pay cannot improve performance on the kind of tasks companies ask of their CEOs. Moreover, CEOs of large established companies do not typically have much impact on their companies' results.
Inhaltsverzeichnis zu „Indispensable and Other Myths “
ACKNOWLEDGMENTS 1. INTRODUCTION PART I. WHAT'S WRONG WITH THE DOMINANT THEORIES? 2. THE PUZZLES OF CEO COMPENSATION 3. The Corporate Personality Myth 4. MARKET MYTHOLOGY 5. Incentives Mythology PART II. WHAT'S REALLY GOING ON? 6. Performance Pay Mythology 7. Causation Mythology 8. Predictability Mythology PART III. HOW CAN WE BEST REFORM THE SYSTEM? 9. ALIGNMENT MYTHOLOGY 10. MOVING FORWARD Notes Index
Autoren-Porträt von Michael Dorff
Michael Dorff has taught at UCLA School of Law, Rutgers Law School, and the Peter F. Drucker and Masatoshi Ito Graduate School of Management. He is currently Professor of Law at Southwestern Law School, where he teaches corporate law and other business law topics.
Bibliographische Angaben
- Autor: Michael Dorff
- 2014, 328 Seiten, Maße: 15,2 x 22,9 cm, Gebunden, Englisch
- Verlag: University of California Press
- ISBN-10: 0520281012
- ISBN-13: 9780520281011
- Erscheinungsdatum: 04.07.2014
Sprache:
Englisch
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