Business, Management and Accounting
4 years ago

Say‐on‐Pay Proposals Shift Executive Compensation Towards Incentives, Impacting Directors

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Financial Review
Does Say‐on‐Pay Matter? Evidence from Say‐on‐Pay Proposals in the United States
Natasha Burns, Kristina Minnick

Paper Summary

The study looked at whether say-on-pay proposals affect how much executives and directors get paid. Companies with say-on-pay proposals didn't change CEO total pay much, but they shifted towards more incentive-based pay. Non-CEO executives also saw changes in their pay mix. Directors at companies with say-on-pay proposals got smaller pay increases compared to those without. Companies with well-paid CEOs, especially with cash, were more likely to have a say-on-pay proposal.

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