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THE EXECUTIVE COMPENSATION CONTROVERSY: 24 MAY 2010A TRANSATLANTIC ANALYSISCohen, Lauren, Andrea Frazzini, and Christopher Malloy, 2008, The Small World ofInvesting: Board Connections and Mutual Fund Returns, Journal of PoliticalEconomy 116, 951-979.“Congress and Taxes: Specialists Mull Ways to Close “Loopholes” in Present Tax Laws,”1959, Wall Street Journal (January 7).Conyon, Martin J., John E. Core, and Wayne R. Guay, 2009, Are US CEOs Paid More ThanUK CEOs? Inferences From Risk-Adjusted Pay, (Wharton).Conyon, Martin J., and Kevin J. Murphy, 2000, The Prince and the Pauper? CEO Pay in theUnited States and United Kingdom, Economic Journal 110, F640-F671.Conyon, Martin J., and Kevin J. Murphy, 2002, Stock-Based Executive Compensation, in J.McCahery, P. Moerland, T. Raaijmakers, and L. Renneboog, eds.: CorporateGovernance Regimes: Convergence and Diversity (Oxford University Press).Conyon, Martin J., and Joachim Schwalbach, 2000, Executive Compensation: Evidence fromthe UK and Germany, Long Range Planning 33, 504-526.Coughlan, Anne T., and Ronald M. Schmidt, 1985, Executive Compensation, ManagementTurnover and Firm Performance: An Empirical Investigation, Journal of Accounting& Economics 7, 43-66.Crystal, Graef, 1991. In Search of Excess: The Overcompensation of American Executives(W.W. Norton & Company, New York).Cummins, Chip, 2004, “Shell's Outside Auditors Got Warning on Reserves in 2002,” WallStreet Journal (July 15).Cuomo, Andrew M., 2009, No Rhyme or Reason: The 'Heads I Win, Tails You Lose' BankBonus Culture, (State of New York).“Cut High Salaries or Get No Loans, is RFC Warning,” 1933, New York Times (May 29).Dahiya, Sandeep, and David Yermack, 2008, You Can’t Take It With You: SunsetProvisions for Equity Compensation When Managers Retire, Resign, or Die, Journalof Corporate Finance 14, 499-511.Davies, Lizzy, 2009, “France announces bank bonus crackdown and urges G20 nations tofollow suit,” The Guardian (August 26).Davis, John, 1982, “Cheap Shares,” Observer (October 24).DeFusco, R, R. Johnson, and T. Zorn, 1990, The Effect of Executive Stock Option Plans onStockholders and Bondholders, Journal of Finance 45, 617-627.-129-
THE EXECUTIVE COMPENSATION CONTROVERSY: 24 MAY 2010A TRANSATLANTIC ANALYSISDelaney, Kevin J., and David Wessel, 1999a, “Lumpy Gravy: Suppose Stock OptionsInvolved More Pain Than Financial Gain --- That's the Case in Europe, Which Helpsto Explain High-Tech Lag There --- `A Bit Perverted' in France,” Wall Street Journal(December 21).Delaney, Kevin J., and David Wessel, 1999b, “Lumpy Gravy: Suppose Stock OptionsInvolved More Pain Than Financial Gain – That's the Case in Europe, Which Helps toExplain High-Tech Lag There – `A Bit Perverted' in France,” Wall Street Journal(December 21).Dibben, Margaret, 1983, “Opening up the options,” Guardian (November 19).Eckhouse, John, 1987, “Tech Firms’ Study: Accounting Rule Attacked,” San FranciscoChronicle (April 10).Edmans, Alex, and Xavier Gabaix, 2009, Is CEO Pay Really Inefficient? A Survey of NewOptimal Contracting Theories, European Financial Management 15.Elia, Charles J, 1967, “Opting for Options: Stock Plans Continue in Widespread FavorDespite Tax Changes,” Wall Street Journal (July 15).Erkens, David, Mingyi Hung, and Pedro Matos, 2010, Corporate Governance in the 2007-2008 Financial Crisis: Evidence from Financial Institutions Worldwide, (Universityof Southern California).Esmerk, 2009, “Finland: Banking and insurance sector bonuses to be restricted,” EsmerkFinnish News (December 11).EU Commission, 2007, Report on the application by Member States of the EU of theCommission Recommendation on directors’ remuneration.Fahlenbrach, Rüdiger, and René M. Stulz, 2010, Bank CEO Incentives and the CreditCrisis, Journal of Financial Economics forthcoming.Farrell, Gregg, and Francesco Guerra, 2008, “Top Executives at Morgan Stanley and Merrillforgo their bonuses,” Financial Times (December 9).Fernandes, Nuno, Miguel A. Ferreira, Pedro Matos, and Kevin J. Murphy, 2009, The PayDivide: (Why) Are U.S. Top Executives Paid More?, ECGI Finance Working PaperNo. 255/2009.Ferreira, Miguel, and Pedro Matos, 2008, The Colors of Investors' Money: The Role ofInstitutional Investors Around the World, Journal of Financial Economics 88, 499-533.Ferri, Fabrizio, and Tatiana Sandino, 2009, The Impact of Shareholder Activism on FinancialReporting and Compensation: The Case of Employee Stock Options Expensing, TheAccounting Review 84, 433-466.-130-
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