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Ethics
by leon on March 23, 2009
The International Herald Tribune reports that Barack Obama is about to give itself increased oversight of executive pay at banks and Wall Street firms. The new rules, it's said, are likely to tie pay more closely to performance and one would expect shareholders will get more say. Companies might have to put packages to shareholders for a vote.
Whether these changes would go far enough remains to be seen. Maybe there is room for additional measures, like for example, giving shareholders a bigger say on whether a CEO is performing or not, maybe by putting it to the vote of investors.
But is government intervention really the answer? Much of the problem is caused by shareholder greed. Shareholders never complain when they're making money on the market. It's a point I examine in today's Management Line blog.
Permalink: Executive pay and shareholder greed
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/147130
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Vote for Executive pay and shareholder greed:
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Rating: 6.67 out of 3 vote(s) cast.
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Response from:
Gil
(10/28/09 9:01am)
Response from:
The Obama administration wants to rein in executive pay. But shouldn't it be tackling shareholder greed as well.
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