Research Handbook on Executive Pay

Edited by Randall S. Thomas, John S. Beasley II Chair in Law and Business, Director, Law and Business Program, Professor of Management, Owen Graduate School of Management and School of Law, Vanderbilt University, US and Jennifer G. Hill, Bob Baxt AO Chair in Corporate and Commercial Law, Director, Centre for Commercial Law & Regulatory Studies (CLARS), Faculty of LawMonash University, Australia

‘. . . A controversial and endlessly debatable topic on which this book sheds considerable light and is a most welcome commentary. . . Rather than a collection of learned essays gleaned from various academic journals worldwide, the articles contained within this quite fascinating work of reference - all extensively footnoted - have all been specially commissioned by the editors to provide a wealth of informed, up-to-date commentary on the latest contributions to this debate worldwide from top scholars in this field. . . The book does provide copious resources for further research in the form of footnotes, extensive bibliographies at the end of each article and a detailed index at the back. With its global perspective and erudite approach, this book would certainly be an asset to anyone involved professionally or academically in any matters relating to executive pay.’

• Contents:Introduction PART I: HISTORY AND THEORY1. The Politics of Pay: A Legislative History of Executive Compensation Kevin J. Murphy2. U.S. Executive Compensation in Historical Perspective Harwell Wells3. Executive Pay and Corporate Governance Reform in the UK: What Has Been Achieved? Steve Thompson4. Governance Codes, Managerial Remuneration and Disciplining in the UK: A History of Governance Reform Failure?Luc Renneboog and Grzegorz Trojanowski5. Agency Theory and Incentive CompensationWilliam Bratton PART II: THE STRUCTURE OF EXECUTIVE PAY6. Bankers’ Compensation and Prudential Supervision: The International Principles Guido Ferrarini 7. Reforming Financial Executives’ Compensation for the Long Term Sanjai Bhagat and Roberta Romano8. How to Avoid Compensating the CEO for Luck: The Case of Macroeconomic FluctuationsLars Oxelheim, Clas Wihlborg and Jianhua Zhang 9. CEO Compensation and Stock Options in IPO FirmsSalim Chahine and Marc Goergen10. Corporate Governance Going Astray: Executive Remuneration Built to FailJaap Winter PART III: CORPORATE GOVERNANCE AND EXECUTIVE COMPENSATION11. Regulating Executive Remuneration After the Global Financial Crisis: Common Law PerspectivesJennifer G. Hill12. Institutional Investor Preferences and Executive CompensationJoseph A. McCahery and Zacharias Sautner 13. Say on Pay and the Outrage ConstraintKym Sheehan14. Taxing Executive CompensationGlen Loutzenhiser15. Insider Trading and Executive Compensation: What We Can Learn from the Experience with Rule 10b5-1M. Todd Henderson 16. Executive Compensation ConsultantsRuth Bender PART IV: INTERNATIONAL PERSPECTIVES ON EXECUTIVE PAY17. Lessons from the Rapid Evolution of Executive Remuneration Practices in Australia: Hard Law, Soft Law, Boards and ConsultantsRandall S. Thomas 18. Presidents’ Compensation in JapanKatsuyuki Kubo19. Top Executive Pay in ChinaMichael Firth, Tak Yan Leung and Oliver M. Rui20. Executive Compensation and Pay for Performance in ChinaMartin J. Conyon and Lerong He21. Executive Compensation in IndiaRajesh Chakrabarti, Krishnamurthy Subramanian, Pradeep K. Yadav and Yesha Yadav 22. The EU and Executive Pay: Managing Harmonization RisksNiamh Moloney 23. Executive Compensation under German Corporate Law: Reasonableness, Managerial Incentives and Sustainability in Order to Enhance Optimal Contracting and to Limit Managerial PowerBrigitte Haar 24. Director and Executive Compensation Regulations for Italian Listed and Closed CorporationsCarlo Amatucci and Manlio Lubrano di ScorpanielloIndex