Publications

01 Sep 2009
News

everything else.” That culture, critics maintain, spawned executive compensation plans with incentives that encouraged the excessive risk-taking that led to the financial crisis. And while the intricate... View Details

Keywords: Roger Thompson; Colleges, Universities, and Professional Schools; Educational Services; Finance; Government

November 2017
Comment

Discussion: Do Common Inherited Beliefs and Values Influence CEO Pay?

By: Lauren Cohen

The origin of preferences is something we know strikingly little about in economics. Given the central importance of preferences, we have not invested nearly the time we should into this concept. And so, as an overarching research direction, I am heartened by the push... View Details

Keywords: Executive Compensation; Values and Beliefs; Ethnicity

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1999
Chapter

Management Buyouts and Managerial Ethics

By: L. S. Paine

Keywords: Executive Compensation; Ethics; Conflict of Interests

2000
Chapter

Leveraged Management Buyouts at KKR: Historical Perspectives on Patient Equity, Debt, Discipline, and LBO Governance.

By: George P. Baker and George Smith

Keywords: Governance; History; Leveraged Buyouts; Executive Compensation; Borrowing and Debt

26 Jan 2017
Working Paper Summaries

Relative Performance Benchmarks: Do Boards Get It Right?

Keywords: by Paul Ma, Jee Eun Shin, and Charles C.Y. Wang

August 2000
Case

Belmont Industries, Inc. (A)

By: Joseph L. Bower

A new general manager has to propose a salary structure for the top 20 managers. His task is complicated as he learns about past performance, ambitions, interpersonal relations, and market conditions. A rewritten version of an earlier case. View Details

Keywords: Executive Compensation; Goals and Objectives; Performance Evaluation; Compensation and Benefits

01 Dec 2009
News

Hope for Reform Dims

for claw-backs when investments go sour, and give executives significant equity stakes in their companies. “Two firms with compensation plans like I just described, Bear Stearns and Lehman Brothers, both... View Details

Keywords: Securities, Commodities, and Other Financial Investments; Finance; Administration of Economic Programs; Government

February 2000 (Revised April 2004)
Case

Butler Capital Partners and Autodistribution: Putting Private Equity to Work in France

Describes a proposed buyout transaction of Autodistribution, an entrepreneurial firm that is the leading car-parts distributor in France. The deal became feasible because of a failed takeover battle for Autodistribution's parent company. Private equity investor Butler... View Details

Keywords: Private Equity; Leveraged Buyouts; Valuation; Executive Compensation; Entrepreneurship; Distribution Industry; Auto Industry; France

1989
Chapter

Stakeholder Welfare, Managerial Ethics, and Management Buyouts

By: L. S. Paine and Robert F. Bruner

Keywords: Executive Compensation; Ethics; Conflict of Interests; Business and Stakeholder Relations

2011
Other Unpublished Work

Functional Centralization and the Division of Labor in Management

By: Julie Wulf, Maria Guadalupe and Hongyi Li

This paper shows that the trend towards flatter hierarchies in large US firms since the mid-80's has been accompanied by increased centralization of activities at the top of the organization. In particular, the number of functional managers (e.g., Chief Financial... View Details

Keywords: Executive Compensation; Management Teams; Organizational Structure; Business Strategy; Diversification; Information Technology; United States

July 2016
Case

'Golden Leash' Pay for Directors at The Dow Chemical Company

By: Ian Gow, Suraj Srinivasan and Neeraj Goyal

In November 2014, The Dow Chemical Company was faced with the prospect of a proxy battle with prominent hedge fund and activist investor Third Point Management. The activist had criticized Dow’s recent performance and advocated that the company split itself to maximize... View Details

Keywords: Motivation and Incentives; Governing and Advisory Boards; Executive Compensation; Investment Activism; Chemical Industry

March 1992 (Revised June 1992)
Case

AT&T Productos de Consumo de Mexico

By: Joseph L. Badaracco Jr.

Describes in detail the decisions AT&T made in designing and staffing their Mexican telephone answering machine plant. Allows students to evaluate a company's detailed implementation decisions on a plant in a developed country--involving wages, benefits, waste... View Details

Keywords: Decision Making; Executive Compensation; Selection and Staffing; Management Analysis, Tools, and Techniques; Management Systems; Mexico

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01 Dec 2008
News

Lesson from the Fall

consider four innovations: Expanding their cohort of directors to include retired executives and entrepreneurs who have the time to serve as truly focused directors; Increasing the level of director View Details

Keywords: Malcolm S. Salter; Oil and Gas Extraction; Mining; Electric Power Generation, Transmission, Distribution; Utilities

01 Jun 2003
News

How Much is Fair?

Tobias Photo courtesy of Harcourt Author and columnist Andrew Tobias (MBA 1972) discussed executive pay and American attitudes about compensation in an article in Parade magazine (March 2, 2003), for which... View Details

Keywords: Publishing Industries (except Internet); Information

January 2005 (Revised March 2005)
Case

Parisian: productivity and selling cost

By: Rajiv Lal and Arar Han

Presents the dilemma facing George Jones with respect to the high selling cost at Parisian Department Stores. The challenges to be considered reflect issues at different levels of the organization, including individual salespeople, the store itself, and the merchandise... View Details

Keywords: Cost; Executive Compensation; Production; Sales; Salesforce Management; Motivation and Incentives; Retail Industry

October 2000 (Revised October 2000)
Case

3PLex.com

By: Myra M. Hart and Judith Marie Dror

A start-up team is faced with the challenge of building a senior management team with relevant industry experience. The marriage of e-commerce and the transportation logistics industry creates unusual problems in blending "old economy" employees and employee practices... View Details

Keywords: Management Teams; Executive Compensation; Employee Stock Ownership Plan; Organizational Culture; Corporate Entrepreneurship; Technology Adoption; Transportation Industry

09 Jul 2024
Research & Ideas

Are Management Consulting Firms Failing to Manage Themselves?

firms ushered in increasingly accommodating policies to attract and retain staff. Turnover rates steadily decreased, while compensation expectations increased. This has fundamentally challenged the long-standing “up or out” model: As... View Details

Keywords: by David Fubini; Consulting

December 2019 (Revised May 2020)
Case

Income Inequality and the CEO Pay Ratio at TJX Cos

By: Ethan Rouen and Akari Furukawa

TJX Companies reported a CEO pay ratio of 1,596-to-1 in 2019, leaving board chair Carol Meyrowitz with a host of questions about whether, and how, she could take action to address concerns raised by having one of the highest pay ratios in the S&P 500. As a retail... View Details

Keywords: CEO Pay Ratio; Income; Equality and Inequality; Executive Compensation; Corporate Disclosure; Business and Stakeholder Relations