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Author: Abdulrahman Saleem Publisher: ISBN: Category : Languages : en Pages : 41
Book Description
Executive compensation have been a controversial issue since early 90's, and it became the subject of many studies, newspaper articles and books especially after the Enron scandal in the year of 2000. Corporate governance reforms were demanded by many academics and experts around the world including the issue of setting remuneration packages, as to who is the best to decide, and what are the procedures to follow. This paper aimed to present legislative development in the UK that controls this aspect of corporate governance. Also, development through case law in the State of Delaware will also be discussed. In addition, post crisis changes will also be presented in both jurisdictions; also the relationship between executive pay and the crisis will be demonstrated. Finally, this research will present several proposed solutions to the compensation dilemma. It must be said that this research only concerns with executives and managing directors who may have influence over the board as a whole in setting their pay and not with none executive directors. In the UK, there have been number of committees that produced recommendations to tackle this issue chief among them the Cadbury committee which mainly demanded more transparency and disclosures. In the State of Delaware, Corporate law had made it clear that setting remuneration is in the hand of the board, and Delaware's courts have adopted high standard of review in derivative action. There have been slight changes in both jurisdictions but, as seen by many, they are still not enough to solve the problem. Solutions such as making compensation committees more independent and giving more powers to shareholders in making compensation decisions are among most proposed solutions. The research concludes to an important relationship between compensation practices and the crisis. Current practices allows CEO's to be given high bonuses from short term profits, and this motivated them to take huge risks in order to raise their pay. These risky decisions have led to the failure of many “too big to fail” firms which caused the financial meltdown.
Author: Abdulrahman Saleem Publisher: ISBN: Category : Languages : en Pages : 41
Book Description
Executive compensation have been a controversial issue since early 90's, and it became the subject of many studies, newspaper articles and books especially after the Enron scandal in the year of 2000. Corporate governance reforms were demanded by many academics and experts around the world including the issue of setting remuneration packages, as to who is the best to decide, and what are the procedures to follow. This paper aimed to present legislative development in the UK that controls this aspect of corporate governance. Also, development through case law in the State of Delaware will also be discussed. In addition, post crisis changes will also be presented in both jurisdictions; also the relationship between executive pay and the crisis will be demonstrated. Finally, this research will present several proposed solutions to the compensation dilemma. It must be said that this research only concerns with executives and managing directors who may have influence over the board as a whole in setting their pay and not with none executive directors. In the UK, there have been number of committees that produced recommendations to tackle this issue chief among them the Cadbury committee which mainly demanded more transparency and disclosures. In the State of Delaware, Corporate law had made it clear that setting remuneration is in the hand of the board, and Delaware's courts have adopted high standard of review in derivative action. There have been slight changes in both jurisdictions but, as seen by many, they are still not enough to solve the problem. Solutions such as making compensation committees more independent and giving more powers to shareholders in making compensation decisions are among most proposed solutions. The research concludes to an important relationship between compensation practices and the crisis. Current practices allows CEO's to be given high bonuses from short term profits, and this motivated them to take huge risks in order to raise their pay. These risky decisions have led to the failure of many “too big to fail” firms which caused the financial meltdown.
Author: Alexander Kostyuk Publisher: Emerald Group Publishing ISBN: 1785606824 Category : Business & Economics Languages : en Pages : 299
Book Description
This book argues for a correct balance between risk and reward and for Directors' remuneration to be equitable to all parties and stakeholders. By examining the current theories, practices and regulations and explaining them in detail it provides a state of the art overview of one of the key corporate governance issues of our time.
Author: Christoph van der Elst Publisher: Aspen Publishers ISBN: 9789041156075 Category : Law Languages : en Pages : 0
Book Description
è^-Attitudeè^-- looms large in any discussion of executive compensation. Yet here is a book that restricts its remit to what can actually be discovered about the corporate and contractual facts, figures, and rationales that determine how much a company director è^-earnsè^-- in an increasingly complex system of executive remuneration that seems to be taking root worldwide. In a remarkably insightful collection of articles, legal scholars from ten different countries address the state of the art of executive service contracts in twelve different jurisdictions, as diverse as (on the one hand) the European Union, its central Member States and the United States, and (on the other) Iceland and Romania. Their analysis penetrates beyond the often vague regulatory framework to actual survey figures, consultantsè^-- reports, and even data from a number of specific firms.
Author: Financial Crisis Inquiry Commission Publisher: Cosimo, Inc. ISBN: 1616405414 Category : Political Science Languages : en Pages : 692
Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Paddock Publisher: Bloomsbury Professional ISBN: 9781845926571 Category : Business & Economics Languages : en Pages : 354
Book Description
"The Directors' Remuneration Report Regulations mean that companies now need to pay greater attention than ever before to their levels of remuneration for company directors and ensure that they are operating in accordance to best practice in this crucial area. This handbook provides a comprehensive guide to those regulations and their impact on all aspects of recruiting, rewarding and ending a contract with a director. It includes information and guidance on: the regulatory framework; remuneration and corporate performance; service packages; fat cats; reward for failure; golden hellos and handcuffs; shareholder democracy; NEDs; risks of being an executive director; the new environment Draft Directors' Remuneration Report Regulations Draft Companies (Summary Financial Statement). "
Author: Thomas J. Dougherty Publisher: ISBN: 9781522150046 Category : Corporate governance Languages : en Pages :
Book Description
CSC brings you The Directors' Handbook, one of today's leading guides to corporate governance, captures the latest developments that directors of public companies face from both a practical and legal perspective. The Handbook provides insightful analysis of the evolving regulatory and legal landscape, and practical, hands-on information that directors can use to guide their companies.The 2018 Edition of The Directors' Handbook includes insight on how to best address the full spectrum of key governance and disclosure issues, and how to handle shareholder activist campaigns and proxy battles. Complete coverage includes:Creating an audit committee chartCrisis managementDirector and office insuranceMajority voting for directorsThe interplay of stock exchange independence rules and state law standardsThe evolving role of proxy advisory groupsThe role of the corporate secretaryStaggered board repealsBest practices for handling restatement crisesThe political economy of corporations and corporate governance approaches around the role of the corporate secretaryThis edition features an all new Foreword, in which author Thomas J. Dougherty examines director duties under the very different corporate governance frameworks adopted by Delaware for companies incorporated there, as contrasted with those of other states, and their very different requirements for shareholder challenges to director decisions; explores the role and impact of proxy advisory firms, activist agendas, pre-populated proxies and the narrowing of proxy participation; alerts directors to new limits on director compensation awards; and makes a compelling case for greater diversity on corporate boards.Other updated content includes a new section on the Public Company Accounting Oversight Board's new model for auditor reports intended to make auditor reports more useful to investors, as well as significant updates regarding director compensation, including nonemployee director compensation, and developments since the SEC rules amendments and Dodd-Frank enactments. In addition you will find discussion on the Securities and Exchange Commission no-action process regarding proxy access proposals and commentary on the impact of the 2017 Tax Reform Act, withdrawal from the Trans-Pacific Partnership, NAFTA renegotiation and Brexit. There is also an expansion of discussion on board minutes and directors' notes.
Author: Véronique Magnier Publisher: Edward Elgar Publishing ISBN: 1784713562 Category : Business & Economics Languages : en Pages : 233
Book Description
Comparative Corporate Governance considers the effects of globalization on corporate governance issues and highlights how, despite these widespread consequences, predictions of legal convergence have not come true. By adopting a comparative legal approach, this book explores the disparity between convergence attempts and the persistence of local models of governance in the US, Europe and Asia.
Author: Eric Helleiner Publisher: Routledge ISBN: 1135157618 Category : Business & Economics Languages : en Pages : 296
Book Description
From the vantage point of the key powers in global finance including the United States, the European Union, Japan, and China, this highly accessible book brings together leading scholars to examine current changes in international financial regulation. They assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance. The text: Examines the kinds of international reforms have been implemented to date and patterns of international regulatory change. Provides an analysis of change across a number of financial sectors, including the regulation of hedge funds, derivatives, credit rating agencies, accounting, and banks. Offers an explanation of contemporary regulatory developments with reference to inter-state power dynamics, domestic politics, transgovernmental networks, and/or transnational non-state forces. Providing the first systematic analysis of the international regulatory response to the current global financial crisis, this ground-breaking volume is vital reading for students and scholars of international political economy, international relations, global governance, finance and economics.
Author: John Braithwaite Publisher: Edward Elgar Publishing ISBN: 1848441266 Category : Business & Economics Languages : en Pages : 261
Book Description
In this sprawling and ambitious book John Braithwaite successfully manages to link the contemporary dynamics of macro political economy to the dynamics of citizen engagement and organisational activism at the micro intestacies of governance practices. This is no mean feat and the logic works. . . Stephen Bell, The Australian Journal of Public Administration Everyone who is puzzled by modern regulocracy should read this book. Short and incisive, it represents the culmination of over twenty years work on the subject. It offers us a perceptive and wide-ranging perspective on the global development of regulatory capitalism and an important analysis of points of leverage for democrats and reformers. Christopher Hood, All Souls College, Oxford, UK It takes a great mind to produce a book that is indispensable for beginners and experts, theorists and policymakers alike. With characteristic clarity, admirable brevity, and his inimitable mix of description and prescription, John Braithwaite explains how corporations and states regulate each other in the complex global system dubbed regulatory capitalism. For Braithwaite aficionados, Regulatory Capitalism brings into focus the big picture created from years of meticulous research. For Braithwaite novices, it is a reading guide that cannot fail to inspire them to learn more. Carol A. Heimer, Northwestern University, US Reading Regulatory Capitalism is like opening your eyes. John Braithwaite brings together law, politics, and economics to give us a map and a vocabulary for the world we actually see all around us. He weaves together elements of over a decade of scholarship on the nature of the state, regulation, industrial organization, and intellectual property in an elegant, readable, and indispensable volume. Anne-Marie Slaughter, Princeton University, US Encyclopedic in scope, chock full of provocative even jarring claims, Regulatory Capitalism shows John Braithwaite at his transcendental best. Ian Ayres, Yale Law School, Yale University, US Contemporary societies have more vibrant markets than past ones. Yet they are more heavily populated by private and public regulators. This book explores the features of such a regulatory capitalism, its tendencies to be cyclically crisis-ridden, ritualistic and governed through networks. New ways of thinking about resultant policy challenges are developed. At the heart of this latest work by John Braithwaite lies the insight by David Levi-Faur and Jacint Jordana that the welfare state was succeeded in the 1970s by regulatory capitalism. The book argues that this has produced stronger markets, public regulation, private regulation and hybrid private/public regulation as well as new challenges such as a more cyclical quality to crises of market and governance failure, regulatory ritualism and markets in vice. However, regulatory capitalism also creates opportunities for better design of markets in virtue such as markets in continuous improvement, privatized enforcement of regulation, open source business models, regulatory pyramids with networked escalation and meta-governance of justice. Regulatory Capitalism will be warmly welcomed by regulatory scholars in political science, sociology, history, economics, business schools and law schools as well as regulatory bureaucrats, policy thinkers in government and law and society scholars.
Author: Abdulrahman Saleem
Author: Abdulrahman Saleem
Author: Alexander Kostyuk
Author: Christoph van der Elst
Author: Financial Crisis Inquiry Commission
Author: Paddock
Author: Thomas J. Dougherty
Author: Véronique Magnier
Author: 
Author: Eric Helleiner
Author: John Braithwaite