An Introduction to Executive Compensation

Other | April 1, 2002

byBalsam, Steven, Steven Balsam

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General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason thatThe Wall Street Journal, Fortune, Forbes,and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason--executives need incentives in order to maximize firm value (economists call this "agency theory")--it also describes the nature and design of executive compensation practices. Those incentives can take the form of benefits (salary, stock options), perquisites (reflecting the status of the executive within the organizational culture.
This book is important because it takes the elements of an executive compensation package apart, analyzing them in the contexts of both economic theory and corporate practice and then explains how, under varying conditions, one might construct a compensation package that optimizes an executive's and a corporation's performance.

Key Features
* Presents an objective analysis of current executive compensation practices
* Comprehensively reviews of academic literature and extant practice
* Explains and illustrates the various components of the compensation package
* Discusses the incentive, financial reporting, tax, political, equity, and firm value effects of those components

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From the Publisher

General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason thatThe Wall Street Journal, Fortune, Forbes,and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason--executives need incentives in orde...

Steven Balsam, Director of the Ph.D. Program in Business, Associate Professor of Accounting and Merves Research Fellow at the Fox School of Business at Temple University, obtained his Ph.D. from the City University of New York (Baruch College) in 1991. His research interests are in the areas of executive compensation and capital market...
Format:OtherDimensions:387 pages, 1 × 1 × 1 inPublished:April 1, 2002Publisher:Academic PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0080490425

ISBN - 13:9780080490427

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Extra Content

Table of Contents

Part I: Introduction
Introduction
Overview of the Compensation Package
An introduction to designing the executive compensation contract
Part II: The Components of the Compensation Package
Salary
Bonus (Short and Long Term)
Stock Grants and Options
Deferred Compensation
Part III: Related Issues
Ownership of the Corporation
Corporate Governance
Part IV: Designing the Compensation Contract
Is Executive Compensation Really that High?
The Effect of Corporate and Executive Characteristics on Designing an Optimal Compensation Contract
Designing the Executive Compensation Contract
Conclusion: Recent Trends and the Future of Executive Compensation