We examine how UK listed companies set executive pay, reviewing the implications of following best practice in corporate governance and examining how this can conflict with what shareholders and other stakeholders might perceive as good... more
We examine how UK listed companies set executive pay, reviewing the implications of following best practice in corporate governance and examining how this can conflict with what shareholders and other stakeholders might perceive as good behaviour. We do this by considering current governance regulation in the light of interviews with protagonists in the debate, setting out the dilemmas faced by remuneration-setters, and showing how the processes they follow can lead to ethical conflicts. Current ‘best’ practice governing executive pay includes the use of market benchmarks to determine salary and bonus levels, significant levels of performance-related pay, the desire for executives to hold equity in their companies, the disclosure of total shareholder return compared to an index, and a perceived need for conformity, in order to grant legitimacy to policies. Whilst each of these may in some circumstances lead to good practice, each has the potential to cause dysfunctional behaviou...
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This paper addresses the question of the existence of corporate philanthropy. It proposes a framework for analysing corporate philanthropy along the dimensions of business/society interest and primary/secondary stakeholder focus. The... more
This paper addresses the question of the existence of corporate philanthropy. It proposes a framework for analysing corporate philanthropy along the dimensions of business/society interest and primary/secondary stakeholder focus. The framework is then applied in order ...
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Research Interests:
Abstract Based on an inductive study we analyse the role of the investor relations (IR) function in the light of rising investor concern about corporate social responsibility (CSR). The study draws on interviews with IR professionals in... more
Abstract Based on an inductive study we analyse the role of the investor relations (IR) function in the light of rising investor concern about corporate social responsibility (CSR). The study draws on interviews with IR professionals in twenty firms. It highlights their awareness of CSR issues as well as their assessment of concern among mainstream investors and socially responsible investors (SRIs).
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Research Interests:
Research Interests:
... the UK evidence Lance Moir and Sudi Sudarsanam* ... In this study, we provide evidence of financial covenants associated with private debt for a sam-ple of the largest UK corporate borrowers generat-ed from a survey of the largest 200... more
... the UK evidence Lance Moir and Sudi Sudarsanam* ... In this study, we provide evidence of financial covenants associated with private debt for a sam-ple of the largest UK corporate borrowers generat-ed from a survey of the largest 200 non-financial UK firms in 1999. ...
Research Interests:
Based on an inductive study we analyse the role of the investor relations (IR) function in the light of rising investor concern about Corporate Social Responsibility (CSR). The study draws on interviews with IR professionals in twenty... more
Based on an inductive study we analyse the role of the investor relations (IR) function in the light of rising investor concern about Corporate Social Responsibility (CSR). The study draws on interviews with IR professionals in twenty firms. It highlights their awareness of CSR issues as well as their assessment of concern among mainstream investors and socially responsible investors (SRIs).