Management Links
MANAGEMENT: Executive Compensation

"Profitability is the Key to Value. If You've Got it, Flaunt It. If You Don't Have It, Get It (business strategy). If You Can't Get It, Get Out (capital strategy)."

--- Bill Fruhan, Professor of Finance, Harvard Business School, author of: Financial Strategy: Studies in the Creation, Transfer, and Destruction of Shareholder Value.

1994 - Average pay for chief executives was 90 times average worker pay; 2005 - Average pay for chief executives was 179 times average worker pay; 1995-2005 - Average worker pay rose by a total of only 8%; median pay for chief executives at 350 largest companies rose 150% (source: Congressional Researh Service).

September 24, 2008 - Total 2007 compensation of chief executives in large American corporations was 275 times that of salary of average worker (source: Economic Policy Institute); late 1970s -chief executive pay was 35 times that of average American worker.

(Glacier Metal Company), Wilfred B. D. Brown (1962). Piecework Abandoned; The Effect of Wage Incentive Systems on Managerial Authority. (London, UK: Heinemann, 119 p.). Glacier Metal Company; Wage payment systems; Incentives in industry.

Mark Aldrich, Robert Buchele (1986). The Economics of Comparable Worth. (Cambridge, MA: Ballinger Pub. Co., 180 p.). Pay equity.

Lucian A. Bebchuk and Jesse M. Fried (2004). Pay without Performance: The Unfulfilled Promise of Executive Compensation. (Cambridge, MA: Harvard University Press, 304 p.). William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance (Harvard Law School); Professor of Law (Boalt Hall School of Law, UC Berkeley). Executives--Salaries, etc.; Corporate governance.

Joseph Blasi, Douglas Kruse, and Aaron Bernstein (2002). In the Company of Owners: The Truth about Stock Options (and Why Every Employee Should Have Them). (New York, NY: Basic Books, 345 p.). Professors of Human Resource Management (Rutgers), Journalist (Business Week). Employee ownership--United States; Employee stock options--United States; Employee motivation--United States; Chief executive officers--Salaries, etc.--United States; Stock options--United States; Corporations--United States. 

Derek Bok (1993). The Cost of Talent : How Executives and Professionals Are Paid and How It Affects America. (New York, NY: Free Press, 342 p.). Executives--Salaries, etc.--United States; Professional employees--Salaries, etc.--United States.

Graef S. Crystal (1984). Questions and Answers on Executive Compensation: How To Get What You're Worth. (Englewood Cliffs, NJ: Prentice-Hall, 196 p.). Executives--Salaries, etc.--Miscellanea.

--- (1991). In Search of Excess: The Overcompensation of American Executives. (New York, NY: Norton, 272 p.). Executives--Salaries, etc.--United States.

Warren Farrell (2005). Why Men Earn More: The Startling Truth Behind the Pay Gap--and What Women Can Do About It. (New York, NY: AMACOM, 270 p.). Three Time Board Member National Organization for Women (NOW). Pay equity; Women--Employment; Equal pay for equal work. 

The Hay Group; Thomas P. Flannery, David A. Hofrichter, Paul E. Platten (1996). People, Performance, and Pay: Dynamic Compensation for Changing Organizations. (New York, NY: Free Press, 269 p.). Compensation management. 

Michael C. Jensen, Kevin J. Murphy (2007). CEO Pay and What To Do About It:: Restoring Integrity to Both Executive Compensation And Capital-market Relations. (Boston, MA: Harvard Business School Press, 256 p.). Jesse Isidor Straus Professor of Business Administration, Emeritus, at Harvard Business School; E. Morgan Stanley Chair in Business Administration, the Vice Dean for Faculty and Academic Affairs at the University of Southern California Marshall School of Business. Compensation -- executives; shareholder value. New system of incentives for managers to act in best interests of company owners; critical missing link in current incentive plans - between manager’s effectiveness in executing strategy, capital market’s valuation of results (strategic value accountability).

Robert L. Katz (2009). Skills of an Effective Administrator. (Boston, MA: Harvard Business Press, 77 p.). Executive ability; Management; Organizational effectiveness. Executive ability; Management; Organizational effectiveness. Three fundamental abilities companies should seek to develop in their managers.

Ira T. Kay (1992). Value at the Top: Solutions to the Executive Compensation Crisis. (New York, NY: HarperBusiness, 246 p.). Chief executive officers--Salaries, etc.--United States; Executives--Salaries, etc.--United States; Consolidation and merger of corporations--United States.

--- (1998). CEO Pay and Shareholder Value: Helping the U.S. Win the Global Economic War. (Boca Raton, FL: St. Lucie Press, 145 p.). Global Practice Director of Executive Compensation Consulting (Watson Wyatt Worldwide). Chief executive officers--Salaries, etc.--United States; Executive ability--United States; Stocks--United States; Stock ownership--United States; Competition, International.

Ira T. Kay, Steven Van Putten (2007). Myths and Realities of Executive Pay: Performance-Driven Compensation in the New Environment. (New York, NY: Cambridge University Press, 280 p.). Global Practice Director of Executive Compensation Consulting at Watson Wyatt Worldwide; East Region Practice Leader of Watson Wyatt's Executive Compensation Consulting Practice. Chief executive officers--Salaries, etc.--United States; Executive ability--United States; Competition, International. CEOs not overpaid.

Ed. Robert W. Kolb (2006). The Ethics of Executive Compensation. (Malden, MA: Blackwell Pub., 182 p.). Assistant Dean for Business and Society at the Leeds School of Business (University of Colorado). Executives--Salaries, etc. Fundamental problems of executive compensation from social, ethical perspective.

K. R. Srinivasa Murthy (1977). Corporate Strategy and Top Executive Compensation. (Boston, MA: Harvard University Press, 138 p.). Executives--Salaries, etc.--United States; Corporations--United States. Division of Research, Graduate School of Business Administration.

Paul Osterman (2009). Truth about Middle Managers Who They Are, How They Work, Why They Matter. (Boston, MA,: Harvard Business Press, 224 p.). Professor of Human Resources and Management (MIT Sloan School of Management). Middle managers; Management. Middle managers; Management. 30 years of employment data, with wide sample of managers interviewed: numbers of middle managers has increased dramatically, wealthier, more productive, more autonomous, gain pleasure from daily work; committed to tasks, colleagues; increasingly cynical, distant from organizations; confused about future, how to manage their careers.

Ellen L. Pavlik and Ahmed Belkaoui (1991). Determinants of Executive Compensation: Corporate Ownership, Performance, Size, and Diversification. (New York, NY: Quorum Books, 163 p.). Chief executive officers--Salaries, etc.; Executives--Salaries, etc.; Industrial organization.

David J. Smyth, William J. Boyes, and Dennis E. Peseau (1975). Size, Growth, Profits, and Executive Compensation in the Large Corporation: A Study of the 500 Largest United Kingdom and United States Industrial Corporations. (New York, NY: Holmes & Meier, 103 p.). Industries--Size; Profit; Executives--Salaries, etc.; Corporations--United States; Corporations--Great Britain.

Eds. Joel M. Stern, G. Bennett Stewart III, and Donald H. Chew, Jr. (1989). Corporate Restructuring and Executive Compensation. (Cambridge, MA: Ballinger Pub. Co., 381 p.). Corporate reorganizations--United States; Executives--Salaries, etc.--United States; Consolidation and merger of corporations--United States.

A.P. Williams (1994). Just Reward?: The Truth About Executive Pay. (London, UK: Kogan Page, 306 p.). Executives--Salaries, etc.--Great Britain; Chief executive officers--Salaries, etc.--Great Britain.



Executive Compensation: A Guide for Investors                                                                                                                                

The federal securities laws require clear, concise and understandable disclosure about the amount and type of compensation paid to chief executive officers and other highly compensated executives of public companies. This brochure is designed to help you locate this compensation information in company reports.

Executive Excess 2007: The Staggering Social Cost of U.S. Business Leadership                            executiveexcess.pdf                                                 

This report released in August 2007 provides data and analysis about CEO compensation and the CEO-worker pay gap. Also include comparisons of compensation for U.S. business leaders with other U.S. leaders and European business leaders, and proposals for change. From the Institute for Policy Studies and United for a Fair Economy.


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