Say on Pay

Say on Pay

By
David F. Larcker, Brian Tayan
CGRI Research Spotlight Series. Corporate Governance Research Initiative,
2016

This Research Spotlight provides a summary of the academic literature on how shareholder voting on executive compensation plans influences executive pay. It reviews the evidence of:

  • The impact of “vote no” campaigns
  • The impact of shareholder voting on equity compensation plans
  • The market reaction to say-on-pay legislation and proposals
  • The impact of say on pay on future pay practices

This Research Spotlight expands upon issues introduced in the Quick Guide “CEO Compensation.”