Regulating Executive Remuneration after the Global Financial Crisis: Common Law Perspectives

RESEARCH HANDBOOK ON EXECUTIVE PAY, 219-240 (Edward Elgar Publishing Ltd, UK: Randall S. Thomas and Jennifer G. Hill, eds., 2012).

Sydney Law School Research Paper No. 11/91

45 Pages Posted: 9 Nov 2011 Last revised: 2 Feb 2020

See all articles by Jennifer G. Hill

Jennifer G. Hill

Monash University - Faculty of Law; European Corporate Governance Institute (ECGI)

Date Written: 2012

Abstract

Executive pay has become a regulatory flashpoint of the global financial crisis. In contrast to the traditional non-interventionist approach to executive compensation, it has galvanized regulators around the world to search for effective responses to the perceived problem of executive pay.

These developments have also shifted the focus of research in the area of executive pay. Although since the 1990s, there has been much research on the determinants of executive pay, there was far less on policies to control executive remuneration. The global financial crisis has altered this. Executive compensation is once again portrayed as a corporate governance problem in search of a solution.

This chapter for the Research Handbook on Executive Pay, a forthcoming book on international executive compensation to be published by Edgar Elgar Publishing, explores a range of responses to the global financial crisis concerning the regulation of executive pay in three common law jurisdictions - the United States, United Kingdom and Australia.

Keywords: executive compensation, remuneration, shareholders, directors, disclosure, directors’ duties, comparative corporate governance, corporate scandals, global financial crisis, regulation

JEL Classification: G30, G34, J33, K22, K33, K40, M14, M52, 016

Suggested Citation

Hill, Jennifer G., Regulating Executive Remuneration after the Global Financial Crisis: Common Law Perspectives (2012). RESEARCH HANDBOOK ON EXECUTIVE PAY, 219-240 (Edward Elgar Publishing Ltd, UK: Randall S. Thomas and Jennifer G. Hill, eds., 2012)., Sydney Law School Research Paper No. 11/91, Available at SSRN: https://ssrn.com/abstract=1956294

Jennifer G. Hill (Contact Author)

Monash University - Faculty of Law ( email )

Wellington Road
Clayton, Victoria 3800
Australia

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

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