The New Standards
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Book Overview
Every year companies spend millions of dollars on executive incentives. All too often, however, these programs provide a very weak link between pay and performance, with executives potentially rewarded as much for bad decisions as they are for good ones.
Packed with examples, The New Standards insightfully discusses:
How to link pay with business results that create long-term value
Why incentive structures can discourage management from reasonable risk-taking, in some cases, and can enocourage imprudent risks in others
The full range of inputs that should guide proper incentive policy
Why performance measures must reflect both the quality and quantity of earnings
Risk, executive behavior, and the cost of capital
How to use valuation criteria when choosing metrics
The pros and cons of common approaches to stock-based incentive pay
Written by noted compensation expert Richard Ericson, this innovative book is a must-read for directors and management concerned with executive compensation design or financial performance measurement and forecasting. Get the guidance and concrete solutions you need to thoroughly reexamine your executive compensation policies and practices with the principles and financial maxims found in The New Standards.
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