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How Chinese Styled Executive Remuneration Works: Evidence from Chinese Red-Chips

In: How to Make Boards Work

Author

Listed:
  • Jessica Hong Yang
  • Nada K. Kakabadse

Abstract

Executive remuneration has attracted much attention from both academics and practitioners in the past two decades (Murphy, 1985; Bebchuk and Fried, 2003). A well-designed executive remuneration is significant to a firm’s performance, especially during financial crisis (Bebchuk and Weisbach, 2010). An astonishing survey shows that the average executive pay of Standard & Poor 500 firms increased more than four times from $3.5 million to $14.7 million and the granted stock options to CEOs increased nearly nine-fold from 1992 to 2000 (Bebchuk and Fried, 2003). The design of executive remuneration therefore attracts a great attention in the world. Issues of concern, especially in the banking field, include poor remuneration packages, enormous executive salaries and excessive short-term risk-taking. An unprecedented number of financial firms suffered extensive collapse during the 2008 global financial crisis.

Suggested Citation

  • Jessica Hong Yang & Nada K. Kakabadse, 2013. "How Chinese Styled Executive Remuneration Works: Evidence from Chinese Red-Chips," Palgrave Macmillan Books, in: Andrew Kakabadse & Lutgart Berghe (ed.), How to Make Boards Work, chapter 3, pages 75-94, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-27570-7_4
    DOI: 10.1057/9781137275707_4
    as

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