Executive Remuneration

click menu to expand

Executive Remuneration
Executive Remuneration is clearly a topic of enormous importance and one that fills the headlines of newspapers every day these days. It is a quintessential corporate governance issue about which there are many different views and opinions. In this new section of the ECGI website, we set out some of the arguments and provide links to academic and other material that can shed light on the debate.
The ECGI itself does not take a position on these matters. Rather, the purpose of the Institute is to generate research, stimulate debate and disseminate best practice. In these pages therefore, you will find links to proprietary ECGI research and other references to material on this important topic. They are continuously developed as new information becomes available. Any comments and suggestions for additional links and references are very welcome.


Contents:
	A European Perspective on Executive Remuneration by Professor Guido Ferrarini, Professor of Business Law and Capital Markets Law, University of Genoa. Presentation given at the E.N.G.’s 7th annual senior executive summit on Executive Compensation and Benefits, 16-18 September 2008.
	Executive Compensation as an Agency Problem by Lucian Arye Bebchuk and Jesse Fried
	Pay without Performance: The Unfulfilled Promise of Executive Compensation by Lucian Bebchuk and Jesse Fried
	ECGI Research: Executive Remuneration in the EU: Comparative Law and Practice
	European Commission consultation on directors' remuneration February 2004
	Results of the Commission's consultation on directors’ remuneration 15 June 2004
	Commission Recommendation (Provisional text) 6 October 2004
	Paper: Governance Matters: Convergence in Law and Practice across the EU Executive Pay Faultline by Guido Ferrarini, Università degli Studi di Genova - Law School & ECGI, Niamh Moloney, Queen's University Belfast School of Law & ECGI and Cristina Vespro, ECARES, Université Libre de Bruxelles & ECGI, forthcoming in The Journal of Corporate Law Studies, n. 2, 2004
	ECGI Working Paper 47/2004: Capital structure and managerial compensation: the effects of remuneration seniority by Riccardo Calcagno, Tilburg University and Luc Renneboog, Tilburg University and ECGI
	ECGI Working Paper 44/2004: Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them by Michael Jensen, Harvard Business School, Kevin Murphy, Marshall School of Business, University of Southern California and Eric Wruck, Econalytics
	ECGI Working Paper 32/2003: Lower Salaries and No Options: The Optimal Structure of Executive Pay by Ingolf Dittmann, Humboldt University of Berlin and Ernst Maug, Humboldt University of Berlin and ECGI
	ECGI Working Paper 09/2003: Executive Remuneration in the EU: Comparative Law and Practice by Guido Ferrarini, Università degli Studi di Genova-Law School, Niamh Moloney, Queen's University Belfast-School of Law and ECGI and Cristina Vespro, Universite Libre de Bruxelles and ECGI
	ECGI Working Paper 02/2002: Corporate Governance and Control by Marco Becht, ECGI European Corporate Governance Institute, Patrick Bolton, Princeton University - Department of Economics; Centre for Economic Policy Research (CEPR) and Ailsa Roell, Princeton University - Department of Economics