Too much is not enough: incentives in executive compensation

by Kolb, Robert W.

Type Book

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Title Statements

Full title :Too much is not enough : incentives in executive compensation / Robert W. Kolb.

Summary

"The scholarly literature on executive compensation is vast. As such, this literature provides an unparalleled resource for studying the interaction between the setting of incentives (or the attempted setting of incentives) and the behavior that is actually adduced. From this literature, there are several reasons for believing that one can set incentives in executive compensation with a high rate of success in guiding CEO behavior, and one might expect CEO compensation to be a textbook example of the successful use of incentives. Also, as executive compensation has been studied intensively in the academic literature, we might also expect the success of incentive compensation to be well-documented. Historically, however, this has been very far from the case. In Too Much Is Not Enough, Robert W. Kolb studies the performance of incentives in executive compensation across many dimensions of CEO performance. The book begins with an overview of incentives and unintended consequences. Then it focuses on the theory of incentives as applied to compensation generally, and as applied to executive compensation particularly. Subsequent chapters explore different facets of executive compensation and assess the evidence on how well incentive compensation performs in each arena. The book concludes with a final chapter that provides an overall assessment of the value of incentives in guiding executive behavior. In it, Kolb argues that incentive compensation for executives is so problematic and so prone to error that the social value of giving huge incentive compensation packages is likely to be negative on balance. In focusing on incentives, the book provides a much sought-after resource, for while there are a number of books on executive compensation, none focuses specifically on incentives. Given the recent fervor over executive compensation, this unique but logical perspective will garner much interest. And while the literature being considered and evaluated is technical, the book is written in a non-mathematical way accessible to any college-educated reader."--Publisher's website.

Edition Statements

Publication Date:©2012

Publication Statements

Publisher(s):Oxford University Press
Place of Publication:New York
Language:eng
Publication Date:©2012

The Physical Object

Description:1 ressource en ligne (xi, 216 pages) : : illustrations.

Edition Identifiers

ISBN:9780199829590, 0199829594, 1306194350, 9781306194358
oclc:ocn965484788
LC Classification:HD4965.5.U6
Dewey Decimal:331.2/164

The Magnitude and Structure of Executive Compensation -- Corporate Governance, Agency Problems, and Executive Compensation -- The Incentive Structure of Executive Compensation -- Executive Stock Options and the Incentives They Create -- Executive Stock Option Programs: The Behavior of CEOs, Firms, and Investors -- Executive Incentives and Risk-Taking -- Incentive Compensation and the Management of the Firm -- Perverse Incentive Effects: Executives Behaving Badly -- Incentives in Executive Compensation: A Final Assessment.

Subjects

Corporate Governance Corporate governance -- United States Executives -- Salaries, etc Executives -- Salaries, etc. -- United … Gouvernement d'entreprise -- États-Unis Incentive awards Incentive awards -- United States Incentives in industry Incentives in industry -- United States Ressources Internet United States