Executive Pay

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 PriceHarvard 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 RatiosHarvard 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 IssueHarvard 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

Access to Finance Blog

A Layman’s Guide to Separating Causation from Correlation … and Noticing When Claims of Causality are Invalid

A Layman’s Guide to Separating Causation from Correlation … and Noticing When Claims of Causality are Invalid

Imagine you're the Minister for Education, deciding how large to make a school district. Smaller school districts ...
CEOs Cut Investment To Sell Their Own Shares At High Prices

CEOs Cut Investment To Sell Their Own Shares At High Prices

One of the most fundamental concerns with corporations is that they focus on short-term profit rather than ...
House of Commons Report on Corporate Governance

House of Commons Report on Corporate Governance

Today the House of Commons Select Committee on Business, Energy, and Industrial Strategy (BEIS) published its ...
Simplicity, Transparency, and Sustainability: A New Model For CEO Pay

Simplicity, Transparency, and Sustainability: A New Model For CEO Pay

How did BP CEO Bob Dudley get paid £14m in 2015, despite the stock price falling by over 15%? Because of a ...
Why has CEO pay risen so much faster than worker pay?

Why has CEO pay risen so much faster than worker pay?

Arguably the most convincing "smoking gun" evidence that CEO pay is excessive is how it's risen much faster than ...
Long-Term Executive Incentives Improve Innovation and Corporate Responsibility

Long-Term Executive Incentives Improve Innovation and Corporate Responsibility

Executive compensation needs to be reformed. But, most of the calls for reform focus on the wrong dimensions. They ...
Why the MSCI Study Does NOT Show That Equity Incentives Backfire

Why the MSCI Study Does NOT Show That Equity Incentives Backfire

MSCI have released an impactful study entitled "Are CEOs Paid for Performance? Evaluating the Effectiveness of ...
How Virtually Every Pay Regulation Has Backfired

How Virtually Every Pay Regulation Has Backfired

Few topics make the public as angry as CEO pay. In the UK, the average FTSE 100 CEO earned £5.4m in 2015, 148 ...
Eight Common Myths About CEO Pay

Eight Common Myths About CEO Pay

Few business topics capture the public’s interest – and ire – as CEO pay. Indeed, a major reason why executives ...
Higher Stock Returns When CEOs Own More Shares

Higher Stock Returns When CEOs Own More Shares

Executive compensation is a controversial topic. US CEOs earn 373 times the average worker, and so it takes them ...
Reforming CEO Pay – The Dangers of Short-Term Incentives

Reforming CEO Pay – The Dangers of Short-Term Incentives

(This post originally appeared on LinkedIn) Executive pay is a high-profile topic about which almost everyone ...