Top executive remuneration: A view from Europe

被引:82
作者
Bruce, A
Buck, T
Main, BGM
机构
[1] Univ Nottingham, Sch Business, Nottingham NG8 1BB, England
[2] Loughborough Univ Technol, Loughborough, Leics, England
[3] Univ Edinburgh, Edinburgh EH8 9YL, Midlothian, Scotland
关键词
D O I
10.1111/j.1467-6486.2005.00553.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
We argue that the dominance of principal-agent theory as an approach to investigating executive pay has led to an overly narrow focus which may be unhelpful when considering cross-country differences and probably also hinders within-country analysis. The paper discusses the interlinked nature of three available theoretical lenses, namely principal-agent, executive power, and stewardship/stakeholder theories. It argues that institutional theory can provide a useful overarching framework within which appropriate variants of these approaches can be deployed to better comprehend developments in executive pay. We illustrate our approach with a discussion of executive pay in the UK and in Germany.
引用
收藏
页码:1493 / 1506
页数:14
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