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Author: Lucian A. Bebchuk Publisher: Harvard University Press ISBN: 9780674020634 Category : Business & Economics Languages : en Pages : 308
Book Description
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: Lucian A. Bebchuk Publisher: Harvard University Press ISBN: 9780674020634 Category : Business & Economics Languages : en Pages : 308
Book Description
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: OECD Publisher: OECD Publishing ISBN: 9264031030 Category : Languages : en Pages : 208
Book Description
This publication reviews performance pay schemes covering middle management and senior management levels in departments and agencies of central government and also looks at, on a selective basis, schemes for managers in other parts of the public ...
Author: Michael Armstrong Publisher: Kogan Page Publishers ISBN: 0749484373 Category : Business & Economics Languages : en Pages : 393
Book Description
Armstrong's Handbook of Reward Management Practice is the definitive guide to understanding, developing and implementing effective reward strategies. This book covers all the essential aspects of improving organizational, team and individual performance through reward processes, including financial and non-financial rewards, job evaluation, grade and pay structures, rewarding specific employee groups and ethical considerations. This revised and updated sixth edition incorporates the latest research and developments and contains updated coverage of equal pay and the gender pay gap, employee benefits and total reward and a new chapter on employee financial wellbeing. As with all of Armstrong's texts, Armstrong's Handbook of Reward Management Practice bridges the gap between academic and practitioner and is ideally suited to both HR professionals and those studying for HR qualifications, including master's degrees and the CIPD's intermediate and advanced level qualifications. Tips and checklists and can be found throughout, alongside case studies from organizations including General Motors, the UK National Health Service and Tesco. Online supporting resources include lecture slides and comprehensive handbooks for lecturers and students, which include learning summaries, discussion questions and exercises, literature reviews and glossaries.
Author: National Research Council Publisher: National Academies Press ISBN: 0309044278 Category : Business & Economics Languages : en Pages : 221
Book Description
"Pay for performance" has become a buzzword for the 1990s, as U.S. organizations seek ways to boost employee productivity. The new emphasis on performance appraisal and merit pay calls for a thorough examination of their effectiveness. Pay for Performance is the best resource to date on the issues of whether these concepts work and how they can be applied most effectively in the workplace. This important book looks at performance appraisal and pay practices in the private sector and describes whetherâ€"and howâ€"private industry experience is relevant to federal pay reform. It focuses on the needs of the federal government, exploring how the federal pay system evolved; available evidence on federal employee attitudes toward their work, their pay, and their reputation with the public; and the complicating and pervasive factor of politics.
Author: Robert F. Durant Publisher: Routledge ISBN: 1351570064 Category : Political Science Languages : en Pages : 371
Book Description
Dialog between practitioners and academics has increasingly become the exception rather than the rule in contemporary public administration circles. Bridging the gap between theory and practice, Debating Public Administration: Management Challenges, Choices, and Opportunities tackles some of the major management challenges, choices, and opportunities of the twenty-first century facing public managers across various subfields of public administration. Informed by contemporary pressures on public managers to reconceptualize purpose, redefine administrative rationality, recapitalize human assets, reengage resources, and revitalize democratic constitutionalism, the book offers students, practitioners, and researchers an opportunity to take stock and ponder the future of practice and research in public administration. Organized by three sets of major management challenges facing the field—Rethinking Administrative Rationality in a Democratic Republic, Recapitalizing Organizational Capacity, and Reconceptualizing Institutions for New Policy Challenges—the book takes an uncommon approach to the study of these topics. In it, leading practitioners and academics comment on condensed versions of articles appearing in the Theory to Practice feature of Public Administration Review (PAR) from 2006 through 2011. The authors and commentators focus on some of the best current research, draw lessons from that literature for practice, and identify gaps in research that need to be addressed. They expertly draw out themes, issues, problems, and prospects, providing bulleted lessons and practical takeaways. This makes the book a unique one-stop resource for cross-disciplinary, cross-sectoral, and cross-professional exchanges on contemporary challenges.
Author: Luis R. Gomez-Mejia Publisher: Routledge ISBN: 1317473957 Category : Business & Economics Languages : en Pages : 366
Book Description
This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
Author: Eran Vigoda-Gadot Publisher: Edward Elgar Publishing ISBN: 178471349X Category : Business & Economics Languages : en Pages : 423
Book Description
The Handbook of Organizational Politics offers a broad perspective on the intriguing phenomena of power, influence and politics in the modern workplace; their meaning for individuals, groups and other organizational stakeholders; and their effect on organizational outcomes and performances. Comprising entirely of new chapters and insights, this second edition revisits the theory on organizational politics (OP) and examines its progress and changes in emphasis in recent years. This timely and informative book provides a comprehensive set of state-of-the-art studies on workplace politics based on experiences from around the world. The contributors highlight topics such as political skills, political will, politics and leadership, compensations, politics and performance, and politics and the learning climate. Students and scholars will benefit from the up-to-date collection of studies in the field of OP. This Handbook will also be of interest to practitioners and managers from public and private sectors looking for better explanations of internal processes in business.
Author: Mark Easterby-Smith Publisher: John Wiley & Sons ISBN: 0470972815 Category : Business & Economics Languages : en Pages : 678
Book Description
The fully revised and updated version of this successful Handbook is welcomed by management scholars world-wide. By bringing together the latest approaches from the leading experts in organizational learning & knowledge management the volume provides a unique and valuable overview of current thinking about how organizations accumulate 'knowledge' and learn from experience. Key areas of update in the new edition are: Resource based view of the firm Capability management Global management Organizational culture Mergers & acquisitions Strategic management Leadership
Author: George A. Boyne Publisher: Cambridge University Press ISBN: 1139460455 Category : Business & Economics Languages : en Pages : 312
Book Description
The performance of governments around the globe is constantly in the spotlight, whether as a celebration or indictment of their activities. Providing evidence on strategies to improve the performance of public agencies is therefore essential to the practice of public management. Originally published in 2006, this important contribution to the debate explores issues of measurement, research methodology, and management influences on performance. It focuses on three key questions: what approaches should be adopted to measure the performance of public agencies? What aspects of management influence the performance of public agencies? As the world globalizes, what are the key international issues in performance measurement and management? In examining these questions, the contributors debate both methodological and technical issues regarding the measurement of performance in public organizations, and provide empirical analyses of the determinants of performance. The book concludes with groundbreaking work on the international dimensions of these issues.
Author: Lucian A. Bebchuk
Author: Lucian A. Bebchuk
Author: Robert Wood
Author: OECD
Author: Michael Armstrong
Author: National Research Council
Author: Robert F. Durant
Author: Luis R. Gomez-Mejia
Author: Eran Vigoda-Gadot
Author: Mark Easterby-Smith
Author: George A. Boyne