Abstract

http://ssrn.com/abstract=1265122
 
 

Citations (7)



 


 



International Executive Pay: Current Practices and Future Trends


Randall S. Thomas


Vanderbilt University - Law School; European Corporate Governance Institute (ECGI)

September 8, 2008

Randall S. Thomas, INTERNATIONAL EXECUTIVE PAY: CURRENT PRACTICES AND FUTURE TRENDS, Elgar Publishing, 2009
Vanderbilt Law and Economics Research Paper No. 08-26

Abstract:     
This article compares executive pay practices in the U.S. with those employed elsewhere in the world. After providing an overview of current practices, it goes on to analyze whether there is likely to be a convergence of these practices. It first examines the influence of market based factors, such as evolving share ownership patterns, cross-border hiring, transnational mergers and acquisitions, and the growth of multinational enterprises, on the likelihood of convergence occurring. It concludes that these factors point in the direction of increasing convergence in executive pay. Next, the paper discusses the influence of legal regulations, including corporate law, judicial interpretations of fiduciary principles, shareholder voting requirements, restrictions on stock option plans and disclosure rules on comparative executive pay practices. Other legal regimes, such as, tax law, labor law, and "soft" law that might also influence executive compensation are also scrutinized to see how they will affect pay convergence. In its final section, the article considers the effects of culture in several countries and how it impacts compensation levels and practices.

Number of Pages in PDF File: 87

Keywords: shareholders, executive compensation, CEO pay, benefits, cross border hiring, transnational mergers and acquisitions, judicial interpretations of fiduciary principles

JEL Classification: G3, G30, K2, K22, J33

Accepted Paper Series


Download This Paper

Date posted: September 9, 2008  

Suggested Citation

Thomas, Randall S., International Executive Pay: Current Practices and Future Trends (September 8, 2008). Randall S. Thomas, INTERNATIONAL EXECUTIVE PAY: CURRENT PRACTICES AND FUTURE TRENDS, Elgar Publishing, 2009; Vanderbilt Law and Economics Research Paper No. 08-26. Available at SSRN: http://ssrn.com/abstract=1265122

Contact Information

Randall S. Thomas (Contact Author)
Vanderbilt University - Law School ( email )
131 21st Avenue South
Nashville, TN 37203-1181
United States
European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
Feedback to SSRN


Paper statistics
Abstract Views: 3,470
Downloads: 883
Download Rank: 13,364
Citations:  7

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo8 in 0.312 seconds