高管薪酬

M. Reinhard, Daniel Velázquez Escobar
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引用次数: 0

摘要

背离股东价值创造的低效和过度的高管薪酬安排,在许多公司都很常见,在某些情况下,还成为引发公司丑闻的一个因素。从公司治理的角度,我们将回顾美国和德国高管薪酬的历史、结构和法律框架。目的是分析美国的披露和独立监管方式,审查经理人薪酬立场,以及其未来,并将其与德国的方式进行比较。因此,我们将分析影响两国高管薪酬的因素。在这一点上,市场参与者和监管机构仍需要克服一些风险和困难,以约束有害的薪酬做法。在联合部分中,我们得出结论,德国和美国采取的监管措施允许薪酬数额存在差异。
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Executive Compensation
Inefficient and excessive executive compensation arrangements departing from shareholder value creation have been common in many companies and in some cases have been an element triggering corporate scandals. From a corporate governance perspective we will go through the history, the structure and the legal framework of executive compensation in the US and Germany. The objective is to analyze the US disclosure and independence regulatory approach and review managers pay standpoint, as well as its future and compare it with the German approach. Hence, we will analyze the factors that have shaped executive compensation in both countries. At this point there are still risks and difficulties that market participants and the regulators will need to be overcome to discipline harmful compensation practices. In the joint section we conclude that the regulatory measures that Germany and the US have taken, have allowed differences in compensation amounts.
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