Give Us More Money!

Accounting Today
February 7, 2005

For some time, it has become clearer and clearer to us at New Products that we make too little money, and that chief executives make too much. Harvard Law School professor Lucian Bebchuk and Berkeley law professor Jesse Fried make this clear (at least the part about executive pay) in their book, Pay without Performance: The Unfulfilled Promise of Executive Compensation, which delves into the widespread and systemic governance flaws that have allowed execs undue influence in the setting of their own pay, and the ways in which corporate boards' role as shareholders' agents has been subverted. Their proposed solutions revolve around fixing the misincentives involved in so many pay packages, and removing the barriers that insulate directors from their constituents.

Price: $ 24.95.

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