REMUNERATION OF EXECUTIVE DIRECTORS: STAGES OF DEVELOPMENT
Miroslav Nedelchev ()
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Miroslav Nedelchev: Bulgarian Academy of Sciences
Economics and Management, 2017, vol. 13, issue 2, 140-152
The aim of the paper is to present the development stages of the executive directors' remuneration. The focus is on the components of remuneration and, to a lesser extent, on its value. The executive directors are the object of paper. The results of the paper set ten stages for the period 1910-2100's. The dynamics of remuneration reflects the social expectations of a correlation between the results achieved and the compensation of the executive directors. A good structured remuneration policy reduces agency conflict by aligning the agent and principal interests by offering shares and stock options.
Keywords: corporate governance; principal-agent; remuneration (search for similar items in EconPapers)
JEL-codes: G34 H32 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:13:y:2017:i:2:p:140-152
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