Criticism that the compensation awarded to senior executives of
publicly traded U.S. firms is excessive has a long, albeit somewhat
cyclical history. The current financial crisis and public outrage
over the size of executive pay packages, particularly bonuses, paid
to senior management (and in some cases also to junior employees)
of participants in the Troubled Asset Relief Program (TARP) have
resulted in a renewed focus on executive pay and corporate
governance. The scrutiny also involved widely held concerns that
financial firm pay packages encouraged the kinds of reckless risk
taking that many believe was at the centre of the financial crisis.
This book explores the "say on pay" initiatives, corporate
governance reforms, and other executive compensation issues.
General
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