publication . Article . 2011

Regulation of Say on Pay: Engineering Incentives for Executives and Directors – Experiences from the United States and Implications for Regulation in Switzerland

Müller, Lukas;
Open Access German
  • Published: 01 Apr 2011
  • Publisher: Schulthess
  • Country: Switzerland
Abstract
The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws upon legislative experience from the United States. Recently proposed legislation in Switzerland attempts to empower shareholders with the draft of the Swiss Code of Obligations (CO). The main motivation behind this draft law is the reduction of excessive executive compensation. Directors and shareholders with a higher degree of independence might be less conflicted in their...
Subjects
free text keywords: business studies, law
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