Title

The Value and Consequences of Giving Shareholders a ‘Say on Pay’

Award Year

2011

Grant Type

Policy research grant

Description

This project will evaluate to what extent “Say on Pay” provisions (shareholders’ right to a nonbinding advisory vote on a company's executive compensation) plan can affect the level of executive compensation, overall employee compensation, and firm performance. These provisions have been introduced by the Dodd Frank 2010 act as compulsory for all firms but to date there is no evidence on their capacity to affect the level or structure of executive compensation. The author proposes to study similar proposals voted on in firms since 2007 to evaluate their effect. The empirical framework will provide a causal estimate of their effect.

Grant Product

Say Pays! Shareholder Voice and Firm Performance
Upjohn Institute Working Paper 13-192, 2013

Say Pays! Shareholder Voice and Firm Performance
Upjohn Institute Policy Paper No. 2013-015

Say Pays! Shareholder Voice and Firm Performance
ECGI - Finance Working Paper No. 373, 2013

Say Pays! Shareholder Voice and Firm Performance
IZA Discussion Paper No. 8538, 2014

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