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An Introduction to Executive Compensation - Steven Balsam

An Introduction to Executive Compensation


Published: 13th April 2002
Format: PDF
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General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason that The Wall Street Journal, Fortune, Forbes, and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason--executives need incentives in order to maximize firm value (economists call this "agency theory")--it also describes the nature and design of executive compensation practices. Those incentives can take the form of benefits (salary, stock options), perquisites (reflecting the status of the executive within the organizational culture.
This book is important because it takes the elements of an executive compensation package apart, analyzing them in the contexts of both economic theory and corporate practice and then explains how, under varying conditions, one might construct a compensation package that optimizes an executive's and a corporation's performance.

Key Features
* Presents an objective analysis of current executive compensation practices
* Comprehensively reviews of academic literature and extant practice
* Explains and illustrates the various components of the compensation package
* Discusses the incentive, financial reporting, tax, political, equity, and firm value effects of those components

Part I: Introduction
Overview of the Compensation Package
An introduction to designing the executive compensation contract
Part II: The Components of the Compensation Package
Bonus (Short and Long Term)
Stock Grants and Options
Deferred Compensation
Part III: Related Issues
Ownership of the Corporation
Corporate Governance
Part IV: Designing the Compensation Contract
Is Executive Compensation Really that High?
The Effect of Corporate and Executive Characteristics on Designing an Optimal Compensation Contract
Designing the Executive Compensation Contract
Conclusion: Recent Trends and the Future of Executive Compensation

ISBN: 9780080490427
ISBN-10: 0080490425
Format: PDF
Language: English
Published: 13th April 2002
Publisher: Elsevier Science