Fairness of CEO Compensation A Multi-Faceted and Multi-Cultural Fram
Executive compensation and its fairness to stakeholders are topics of heated debate on platforms ranging from news forums to financial markets. This book stimulates critical thinking on executive compensation and guides academics and practitioners on the
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Mehtap Aldogan Eklund
Fairness of CEO Compensation A Multi-Faceted and Multi-Cultural Framework to Structure Executive Pay
Contributions to Management Science
More information about this series at http://www.springer.com/series/1505
Mehtap Aldogan Eklund
Fairness of CEO Compensation A Multi-Faceted and Multi-Cultural Framework to Structure Executive Pay
Mehtap Aldogan Eklund Department of Accountancy University of Wisconsin-La Crosse La Crosse, WI, USA
ISSN 1431-1941 ISSN 2197-716X (electronic) Contributions to Management Science ISBN 978-3-030-33553-3 ISBN 978-3-030-33554-0 (eBook) https://doi.org/10.1007/978-3-030-33554-0 © Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
For my Husband, Family, Minnie, Maya, and Shandi
Preface
Executive compensation, its level, structure, and fairness are a long-lasting, neverending, and often heated public debate. This book provides the reader with a holistic view which converges all of the vantage points, and relevant theories on executive compensation and its fairness, as well as the insights of practitioners on fair and optimal compensation structure and pay level. To alleviate public distress, and social and economic repercussions, and, at the same time, to retain top calibre executives, the author suggests a multifaceted and multicultural framework, which is called the “fair CEO compensation framework”. It is scientifically developed and structured, based upon stakeholder and behavioural agency theories, and provides practitioners with guidance to reach the best, fairest, most optimal, desirable, proper, appropriate, and just executive compensation structure without capping bonuses or variable pay by ru
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