Will Executive Pay Globalise Along American Lines?

17 Pages Posted: 8 Mar 2003

See all articles by Brian R. Cheffins

Brian R. Cheffins

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


In the United States, the remuneration packages of top executives are characterised by a strong emphasis on pay-for-performance and by a highly lucrative "upside". There is much discussion of the possibility that executive pay practices will globalise in accordance with this pattern. This paper assesses whether such convergence is likely to occur. It does so by considering market-oriented dynamics that could constitute a "global compensation imperative". It also takes into account possible obstacles to the Americanisation of executive pay, such as legal regulation, "soft law" and "culture". The paper concludes with a brief series of normative observations.

Suggested Citation

Cheffins, Brian R., Will Executive Pay Globalise Along American Lines?. Corporate Governance: An International Review, Vol. 11, pp. 8-24, 2003. Available at SSRN: https://ssrn.com/abstract=376560

Brian R. Cheffins (Contact Author)

University of Cambridge - Faculty of Law ( email )

10 West Road
Cambridge, CB3 9DZ
United Kingdom
+44 1223 330084 (Phone)
+44 1223 330055 (Fax)

European Corporate Governance Institute (ECGI)

B-1050 Brussels

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