Kevin J. Murphy on Executive Compensation: Is Europe Catching Up with the US, and Should it Do So?

Geoffrey Owen, Tom Kirchmaier () and Jeremy Grant
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Geoffrey Owen: Interdisciplinary Institute of Management, London School of Economics and Political Science
Jeremy Grant: Graduate Institute of International Studies

Chapter 10 in Corporate Governance in the US and Europe, 2006, pp 61-64 from Palgrave Macmillan

Abstract: Abstract Executive compensation has risen sharply over the last few years in both Europe and the US, although the level of compensation in the US is still considerably higher than in Europe. The steep rise in compensation is driven in part by the ratchet effect induced by more stringent disclosure rules, and in part by inefficiencies in, and governance failure of, the CEO hiring process.

Keywords: Corporate Governance; Stock Option; Executive Compensation; Option Grant; Compensation Committee (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51245-0_10

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DOI: 10.1057/9780230512450_10

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