General
Compilation of non-technical, practitioner articles on executive pay
Executive Pay: What’s Right, What’s Wrong, and What Could Be Fixed. Gresham College public lecture (transcript)
The Real Problem with Executive Pay. Economia column
How to Reform Executive Pay. From my response to the UK government’s Executive Pay Inquiry
Q&A from CEO Compensation: Evidence From the Field. ECGI event
Study on the effect of executive pay on investment, for the UK government (summary)
Making Pay Simpler and More Long-Term
Simplicity, Transparency, and Sustainability: A New Model for CEO Pay. The case for replacing complex bonuses with simple restricted stock. Featured in FT Moral Money Smart Reads.
Why Companies Shouldn’t Tie CEO Pay to ESG Metrics. Wall Street Journal
Link Executive Pay to Wider Societal Benefits. Financial Times
Performance-Based Pay For Executives Still Works. Harvard Business Review
How To Fix Executive Compensation. Wall Street Journal
Why Elon Musk’s Compensation Plan Wouldn’t Work For Most Executives Harvard Business Review
Effects of Short-Term Pay
When CEOs’ Equity Is About to Vest, They Cut Investment to Boost the Stock Price. Harvard Business Review
CEOs Cut Investment to Sell Their Own Shares at High Prices. Access to Finance blog post
Pay Ratios
Pay Ratios. Concerns with pay ratio disclosure. From my response to the Green Paper on Corporate Governance and my letter to the SEC
Why We Need to Stop Obsessing Over CEO Pay Ratios. Harvard Business Review
Debunking Myths About CEO Pay
Eight Common Myths About CEO Pay. Access to Finance blog post
Are CEOs Accountable for Performance? From my response to the Green Paper on Corporate Governance
Why the MSCI Study Does Not Show That Equity Incentives Backfire. Access to Finance blog post
Dangers of Pay Regulation
Stop Making CEO Pay a Political Issue. Harvard Business Review
Beware the Unintended Consequences of Theresa May’s Flawed Executive Pay Proposals. CityAM
How Virtually Every Pay Regulation Has Backfired. Access to Finance blog post
Debt-Based Pay
Debt-Based Pay. Paying executives with debt. From my response to the UK government’s Executive Pay Inquiry
Pay Bosses in Debt – Not Just Equity – To Deter Future Crisis. CityAM
Say-on-Pay
Say-on-pay. Should say-on-pay be binding? From my response to the Green Paper on Corporate Governance