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Cited by 573

The DOI matches its Crossref record; 14 of the 14 references it cites were found in a registry or an index.

Pay without Performance: Overview of the issues

Bebchuk, Lucian A., Fried, Jesse M.·2006·Academy of Management Perspectives
DOI 10.5465/amp.2006.19873407
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Abstract

Executive Overview In a recent book, Pay without Performance: The Unfulfilled Promise of Executive Compensation, Bebchuk and Fried critique existing executive pay arrangements and the corporate governance processes that produce them. They also put forward proposals for improving both executive pay and corporate governance. This paper provides an overview of the main elements of their critique and proposals. The authors show that, under current legal arrangements, boards cannot be expected to contract at arm's length with the executives whose pay they set. They discuss how managers' influence can explain many features of the executive compensation landscape, including ones that researchers subscribing to the arm's-length contracting view have long considered as puzzling. The authors also explain how managerial influence can lead to inefficient arrangements that generate weak or even perverse incentives, as well as to arrangements that make the amount and performance-insensitivity of pay less transparent. Finally, they outline proposals for improving the transparency of executive pay, the connection between pay and performance, and the accountability of corporate boards.

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Metadata

Authors
Bebchuk, L. A., & Fried, J. M.
Venue
Academy of Management Perspectives
Publisher
Academy of Management
Published
2006-02
Volume
20
Issue
1
Pages
5-24
ISSN
  • 1558-9080 (ISSN-L)
  • 1943-4529
DOI
10.5465/amp.2006.19873407
OpenAlex
W3125242617
Cited by
573
References
14
FWCI
128.60
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Pay without Performance: Overview of the issues. https://app.cochat.ai/papers/10.5465/amp.2006.19873407
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Bebchuk, L. A., & Fried, J. M. (2006). Pay without Performance: Overview of the issues. Academy of Management Perspectives. https://doi.org/10.5465/amp.2006.19873407

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.