Download or read book Tax Executive Compensation and Organization of the Tax Function Within the Firm written by University of Michigan. Graduate School of Business Administration. Division of Research and published by . This book was released on 1976 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Executive Compensation Best Practices written by Frederick D. Lipman and published by John Wiley & Sons. This book was released on 2008-06-27 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive Compensation Best Practices demystifies the topic of executive compensation, with a hands-on guide providing comprehensive compensation guidance for all members of the board. Essential reading for board members, CEOs, and senior human resources leaders from companies of every size, this book is the most authoritative reference on executive compensation.

Download or read book Examining the Immediate Effects of Recent Tax Law Changes on the Structure of Executive Compensation written by Lisa De Simone and published by . This book was released on 2020 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We exploit a recent law change to examine the relation between corporate taxes and executive compensation. The “Tax Cuts and Jobs Act” (TCJA) lowered the corporate tax rate from 35 to 21 percent and repealed a long-standing exception that allowed companies to deduct executives' qualified performance-based compensation in excess of $1 million. These changes are effective for tax years beginning after December 31, 2017. Using a difference-in-differences design, we find no evidence that the average firm affected by the TCJA in their 2018 fiscal years changed compensation relative to control firms not subject to the new regime until their 2019 fiscal years. We find limited evidence of a reduction in total compensation among less than 10 percent of treated firms. We execute a battery of tests to validate these results. Overall, our findings suggest the tax benefits of executive compensation do not outweigh non-tax considerations when firms structure pay.

Download or read book An Introduction to Executive Compensation written by Steven Balsam and published by Elsevier. This book was released on 2002-04-13 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason that The Wall Street Journal, Fortune, Forbes, and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason--executives need incentives in order to maximize firm value (economists call this "agency theory")--it also describes the nature and design of executive compensation practices. Those incentives can take the form of benefits (salary, stock options), perquisites (reflecting the status of the executive within the organizational culture. This book is important because it takes the elements of an executive compensation package apart, analyzing them in the contexts of both economic theory and corporate practice and then explains how, under varying conditions, one might construct a compensation package that optimizes an executive's and a corporation's performance. Key Features * Presents an objective analysis of current executive compensation practices * Comprehensively reviews of academic literature and extant practice * Explains and illustrates the various components of the compensation package * Discusses the incentive, financial reporting, tax, political, equity, and firm value effects of those components

Download or read book Executive Compensation written by and published by . This book was released on 1984 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Executive Compensation written by Edge and published by Windsor Professional Information. This book was released on 2004 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing from nine of the leading compensation advisory firms in the country, Executive Compensation: The Professional's Guide to Current Issues and Practices is the first publication to bring together a number of the top practitioners and experts in the field to provide the information and insights needed to navigate within the new era of accountability and performance standards.

Download or read book Executive Compensation written by United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and published by . This book was released on 1992 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Executive Compensation and Firm Performance written by Robert Tempest Masson and published by . This book was released on 1969 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Myths and Realities of Executive Pay written by Ira Kay and published by Cambridge University Press. This book was released on 2007-08-27 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Popular perceptions of executive compensation in the United States are now part of a full-blown mythology fueled by critics who have little direct experience with the inner workings of corporations, their boards, and the executive teams who ultimately shoulder the responsibility for business success or failure. This book documents the realities of executive compensation by investigating the extent to which the pay for performance model governs executive pay levels. It also assesses the relative success of this model in creating value for shareholders and robust job growth for U.S. workers and provides detailed, real-world guidance for designing and executing effective executive compensation plans. Based on extensive empirical research and decades of direct experience in the field, Myths and Realities of Executive Pay settles the debate about executive compensation and the role it plays in the broader U.S. economy.

Download or read book Regulating Executive Pay written by Nancy L. Rose and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores corporate responses to 1993 legislation, implemented as section 162(m) of the Internal Revenue Code, that capped the corporate tax deductibility of top management compensation at $1 million per executive unless it qualified as substantially "performance-based." We detail the provisions of this regulation, describe its possible effects, and test its impact on U.S. CEO compensation during the 1990s. Data on nearly 1400 publicly-traded U.S. corporations are used to explore the determinants of section 162(m) compensation plan qualification and the effect of section 162(m) on CEO pay. Our analysis suggests that section 162(m) may have created a "focal point" for salary compensation, leading some salary compression close to the deductibility cap. There is weak evidence that compensation plan qualification is associated with higher growth rates, as would be the case if qualification relaxed some political constraints on executive pay. There is little evidence that the deductibility cap has had significant effects on overall executive compensation levels or growth rates at firms likely to be affected by the deductibility cap, however, nor is there evidence that it has increased the performance sensitivity of CEO pay at these firms. We conclude that corporate pay decisions seem to be relatively insulated from this type of blunt policy intervention.

Download or read book The Complete Guide to Executive Compensation written by Bruce R. Ellig and published by McGraw Hill Professional. This book was released on 2001-11-22 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategies for gaining a powerful edge in the executive talent wars The competition for executive talent is fierce, making it imperative that executive compensation programs become an integral part of every company's strategic business plan. The Complete Guide to Executive Compensation provides in-depth coverage of current issues and trends in designing and administering executive compensation packages that are strategically, economically, and culturally sound. Renowned compensation and benefit expert Bruce Ellig begins by providing guidance for board members and company executives on defining a company's organization, culture, and business strategy, in order to establish a framework for executive compensation. He then discusses the often difficultbut essentialissues within that framework, including: Pay positioningrelative to the competitive environment Risk profilethe mix of salary, incentive compensation, and benefits Leveragethe relationship between incentive plan payouts and performance Timingthe mix of short- versus long-term incentive programs Incentive plan designobjectives, performance measures, and participation

Download or read book Controlling Executive Compensation through the Tax Code written by Gregg D. Polsky and published by . This book was released on 2008 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes Internal Revenue Code sect; 162(m), which in general denies public companies a deduction for annual non-performance-based compensation in excess of $1,000,000 paid to senior executive officers. Congress enacted sect; 162(m) with the intent to reduce the overall level of executive compensation and to influence the composition of executive compensation in favor of components that are more sensitive to firm performance. Notably, sect; 162(m) represents the most direct Congressional effort to influence executive compensation design. In light of recent events, Congress is being called upon to once again address the perceived problem of overgenerous executive pay packages. Accordingly, it is an opportune time to study the impact of sect; 162(m).This article predicts the likely effects of sect; 162(m) under the two currently prevailing (but opposing) views of how executive compensation arrangements are negotiated in the public company context, ultimately concluding that the provision is likely ineffective under either view. In addition to predicting the likely effect of sect; 162(m), the article discusses the empirical studies of its impact since its enactment almost fifteen years ago. Finally, the article describes some of the unintended incidental effects of the provision, such as its discouragement of certain compensation components that are arguably more efficient than the components typically used by public companies.

Download or read book Records 1916 1984 written by University of Michigan. School of Business Administration and published by UM Libraries. This book was released on 1989 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Use of After Tax or Before Tax Income as a Measure of Performance for Compensation Plans written by Gregory A. Carnes and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper combines the contracting incentives and tax incentives streams of literature to test plausible reasons why firms select different accounting measures of performance when determining executive compensation. The two measures of performance examined are financial income after income taxes and financial income before income taxes. Financial information was obtained for 266 firms, 80 with after-tax compensation plans and 186 with before-tax compensation plans. Logistic regression analysis was used to examine the combined impact of number of segments, the degree to which firms are multinational, management stock ownership, and firm size on compensation plan type. The results suggest that larger firms that report a larger number of operating segments and those firms that have management stock ownership levels in a range where management is entrenched are more likely to select after-tax rather than before-tax compensation plans.

Download or read book Effects of Taxation written by Challis A. Hall and published by . This book was released on 1951 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Taxation of Executive Compensation written by Harvey L. Frutkin and published by LexisNexis. This book was released on 1987 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Taxation of Executive Compensation written by Brian J. Hall and published by . This book was released on 2000 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past 20 years, there has been a dramatic increase in the share of executive compensation paid through stock options. In this paper, we examine the extent to which tax policy has influenced the composition of executive compensation, and discuss the implications of rising stock-based pay for tax policy. We begin by describing the tax rules for executive pay in detail and analyzing how changes in various tax rates affect the tax advantages of stock options relative to salary and bonus. Our empirical analysis leads to three conclusions. First, there is little evidence that tax changes have played a major role int the dramatic explosion in executive stock option pay since 1980. Although the tax advantage of options has approximately dounbled since the early advantage of options has approximately doubled since the early 1980s options currently have only a slight tax advantage relative to cash - approximately $4 per $100 of pre-tax compensation to the executive. A more convincing story for the dramatic explosion in stock options involves changes in corporate governance and the market for corporate control. For example, there is a strong correlation between the fraction of shares held by large institutional investors and the fraction of ececutive pay in the form of stock options, a result that holds both longitudinally and cross-sectionally. Second, we find evidence that the million dollar rule (which limited the corporate deductibility of non-performance-related executive compensateion to $1 million) led firms to adjust the composition of their pay away from salary and toward "performance related pay, " although our estimates suggest that substitution was minor. We find no evience that the regulation decreased the level of total compensation. Third, we examine whether there is evidence for significant shifting of the timing of option exercieses in response to changes in tax rates. After replicating the Goolsbee (1999) result regardin tax-shifting with our data for the 1993 tax reform, we shoat no such shifting occurred in either of the two tax reforms of the 1980s. Moreover, we find evidence that much of the unusually large level of option exercises in 1992 was the result of the rising stock market rather than the change in marginal tax rates