Management remuneration schemes aimed at growth in shareholder value of companies
Journal Title: Zarządzanie i Finanse - Year 2014, Vol 12, Issue 3
Abstract
The recent financial crisis was accompanied by extreme diversification of wages. High bonuses paid to managers who had brought their companies to the brink outraged the public opinion. Accordingly, motivation systems need to be re-examined in the light of the agency theory as well as with respect to moral hazard connected with motivating managers and employees to multiply their wealth at the expense of the shareholders and the whole society. Theoretical analyses, numerous debates and the author's own experience have led to conclusions contained in the recommendations of the European Financial Congress which aim at improving incentive systems for sustainable growth in shareholder value of companies in the long term.
Authors and Affiliations
Leszek Pawłowicz
Keywords
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