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THE EXECUTIVE COMPENSATION CONTROVERSY: 24 MAY 2010A TRANSATLANTIC ANALYSISHarlan, Christi, and Lee Berton, 1992, “Accounting Firms, Investors Criticize Proposal onExecutives’ Stock Options,” “ Wall Street Journal (February 19).Harrington, Ben, 2009, “Credit Suisse to loan cash bonuses,” Sunday Telegraph (January18).Harrison, Rebecca, 2003, “Ex-Alstom chief waived severance pay for “honour”,” ReutersNews (October 22).Hartzell, Jay, Eli Ofek, and David Yermack, 2004, What’s In It For Me? CEOs Whose FirmsAre Acquired, Review of Financial Studies 17, 37-61.Heron, Randall A., and Erik Lie, 2006a, Does Backdating Explain the Stock Price PatternAround Executive Stock Option Grants?, Journal of Financial Economics.Heron, Randall A., and Erik Lie, 2006b, What Fraction of Stock Option Grants To TopExecutives Have Been Backdated or Manipulated, Unpublished Working Paper.Hirshleifer, David, and R Suh, 1992, Risk, Managerial Effort, and Project Choice, Journal ofFinancial Intermediation, 308-345.“House Group Hears Conflicting Views on Stock Option Taxes,” 1959, Wall Street Journal(December 8).“House Unit Seen Favoring Curbs on Stock Options,” 1963, Wall Street Journal (February25).Hudson, Richard L., 1983, “SEC Rules Allow Concerns to Curb Pay Disclosure: CompaniesLikely to Divulge Less on Executive Fees, Incentives, and Stock Options,” WallStreet Journal (September 23).Hyatt, James C, 1975, “No Strings: Firms Lure Executives By Promising Bonuses NotLinked To Profits,” Wall Street Journal (December 24).Inman, Phillip, 2009, “Finance ministers disagree on bonuses,” Australian Financial Review(September 3).“Italy's Compart To Offer Execs Stock Options; Joins Trend,” 1998, Dow JonesInternational News (March 16).Jack, Andrew, 1994, “France to Reform Stock Options,” Financial Times (December 22).Jack, Andrew, 1995, “Paris Urges Share Option Reform,” Financial Times (May 17).Jagger, Suzy, and Alexandra Frean, 2009, “Sarkozy back-pedals over his demands forworldwide cap on banking bonuses,” The Times (September 25).-133-
THE EXECUTIVE COMPENSATION CONTROVERSY: 24 MAY 2010A TRANSATLANTIC ANALYSISJensen, Michael C., and William H. Meckling, 1976, Theory of the Firm: ManagerialBehavior, Agency Costs, and Ownership Structure, Journal of Financial Economics3, 305-360.Jensen, Michael C., and Kevin J. Murphy, 1990a, CEO Incentives: It's Not How Much YouPay, But How, Harvard Business Review 68, 138-153.Jensen, Michael C., and Kevin J. Murphy, 1990b, Performance Pay and Top ManagementIncentives, Journal of Political Economy 98, 225-265.Jensen, Michael C., Kevin J. Murphy, and Eric Wruck, 2011. CEO Pay and What To DoAbout It: Restoring Integrity to Both Executive Compensation and Capital-MarketRelations (Harvard Business School Press, Cambridge, MA).Johnson, Jo, 2001, “Gucci chiefs may net $390m,” Financial Times (November 2001).Johnson, Jo, 2002, “Messier under pressure from board to resign,” Financial Times (July 1).Kashyap, Anil, Raghuram Rajan, and Jeremy Stein, 2008, Rethinking Capital Regulation,(University of Chicago).Kling, Arnold, 2009, Not What They Had in Mind: A History of Policies that Producted theFinancial Crisis of 2008, (George Mason University).Lambert, Richard A., David F. Larcker, and Robert E. Verrecchia, 1991, PortfolioConsiderations in Valuing Executive Compensation, Journal of Accounting Research29, 129-149.Larsen, Peter Thal, 2009, “Rules unlikely to end bonus furore,” Financial Times (April 2).Lekakis, George, 2009, “Bank executives face $50m loss under bonus bans,” The Advertiser(September 7).Lie, Erik, 2005, On the Timing of CEO Stock Options Awards, Management Science 51,802-812.Liebowitz, Stan J., 2009, Anatomy of a Train Wreck: Causes of the Mortgage Meltdown, inBenjamin Powell, and Randall Holcomb, eds.: Housing America: Building Out of aCrisis.Lublin, Joann S, and Mike Esterl, 2008, “Executive Pay Curbs Go Global,” Wall StreetJournal (October 21).Main, B. G., 1999, The Rise and Fall of Executive Share Options in Britain, in J. Carpenter,and D. Yermack, eds.: Executive Compensation and Shareholder Value: Theory andEvidence (Kluwer Academic Press, Dordrecht, Netherlands).-134-
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