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<\/a><\/p>\nStephani A. Mason<\/strong>, DePaul University, USA<\/em><\/p>\nAnn F. Medinets<\/strong>, Rutgers Business School, USA<\/em><\/p>\nDan Palmon<\/strong>, Rutgers Business School, USA<\/em><\/p>\n <\/p>\n
Abstract:<\/strong><\/h3>\nThere is an ongoing debate about whether executives receive excessive compensation, and if so, how to control it. Several countries have instituted say-on-pay rules (shareholders\u2019 right to vote on executive compensation) to reduce excessive compensation. However, determining the effectiveness of say-on-pay is difficult because its tenets vary by country due to political, institutional, cultural, economic, and social factors. Policy issues like say-on-pay are complex, ill-structured problems without definitive assumptions, theories, or solutions. Existing say-on-pay research is inconclusive, since some studies find no change in CEO compensation around its adoption, whereas other studies show that say-on-pay lowers CEO pay or changes its composition. This paper chronicles the history of say-on-pay, compares its implementation by groups (e.g. shareholders-initiated versus legislated and binding versus advisory), discusses the complexities of using say-on-pay to address excessive executive compensation, and recommends future research directions.<\/p>\n
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Keywords:<\/strong><\/h3>\nExecutive compensation; say-on-pay; compensation regulation; shareholder activism; shareholder proposals; corporate governance<\/p>\n
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Citation (APA):<\/strong><\/h3>\nMason, S. A., Medinets, A. F., & Palmon, D. (2016). Say-on-pay: Is anybody listening? Multinational Finance Journal, 20<\/em>(4), 273\u2013322.<\/p>\nCitation (Harvard):<\/strong><\/h3>\n\n
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Mason, S.A., Medinets, A.F. and Palmon, D., 2016. Say-on-Pay: Is Anybody Listening? Multinational Finance Journal<\/em>, 20(4), pp.273\u2013322.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Say-on-Pay: Is Anybody Listening? Multinational Finance Journal, 2016, vol. 20, no. 4, pp. 273\u2013322 https:\/\/doi.org\/10.17578\/20-4-1 – an open-access journal article Stephani A. Mason, DePaul University, USA Ann F. Medinets, Rutgers Business School, USA Dan Palmon, Rutgers Business School, USA Abstract: There is an ongoing debate about whether executives receive excessive compensation, and if so, […]<\/p>\n","protected":false},"author":621,"featured_media":0,"parent":221,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2623","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2623"}],"collection":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/users\/621"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/comments?post=2623"}],"version-history":[{"count":1,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2623\/revisions"}],"predecessor-version":[{"id":2624,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2623\/revisions\/2624"}],"up":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/221"}],"wp:attachment":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/media?parent=2623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}