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Executive Compensation In The Courts: Board Capture, Optimal Contracting, And Officers' Fiduciary Duties, Randall Thomas, Harwell Wells
Executive Compensation In The Courts: Board Capture, Optimal Contracting, And Officers' Fiduciary Duties, Randall Thomas, Harwell Wells
Vanderbilt Law School Faculty Publications
This Article proposes a new approach to monitoring executive compensation. While the public seems convinced that executives at public corporations are paid too much, so far attempts to rein in executive compensation have met with little success. Several approaches have been tried - requiring large pay packages to consist predominantly of incentive pay, new procedures for approving pay, mobilization of public outrage at giant compensation packages. None, however, has stemmed the growth of executive compensation, or convinced opponents of large pay packages that such pay is either fair or deserved. Here we suggest a new approach, one that turns to …
Comparing Ceo Employment Contract Provisions: Differences Between Australia And The United States, Randall Thomas, Jennifer G. Hill, Ronald W. Masulis
Comparing Ceo Employment Contract Provisions: Differences Between Australia And The United States, Randall Thomas, Jennifer G. Hill, Ronald W. Masulis
Vanderbilt Law School Faculty Publications
The results of our comparison of U.S. and Australian contracts offer some interesting contrasts with several earlier studies that compare U.S. and U.K. CEO compensation. In those prior studies, the authors conclude that U.S. CEOs' compensation is significantly higher than U.K. CEOs' compensation. What is interesting about our initial results is that U.S. CEOs clearly do not have higher base salaries in comparison to Australia. On the other hand, U.S. contracts are much more likely to include restricted stock and stock option features, which generally require payment after a CEO remains at the firm a fixed number of years, typically …
Compensating Differentials For Sexual Harassment, Joni Hersch
Compensating Differentials For Sexual Harassment, Joni Hersch
Vanderbilt Law School Faculty Publications
This paper provides evidence of the relation between the risk of sexual harassment and wages. While one approach to detecting the effect on wages of sexual harassment would be to estimate wage equations controlling for whether an individual reports that he or she had been sexually harassed, sexual harassment on the job is unlikely to be exogenous with respect to wages, and it is difficult to identify appropriate variables that would allow instrumental variables estimation. In addition, there are almost no data reporting information on sexual harassment as well as wages and other determinants of wages. To avoid these problems, …