Publication Date

7-2002

Journal

University of New South Wales Law Journal

Abstract

The article critiques the assumption that performance-based executive remuneration aligns managerial and shareholder interests, arguing that executives' positional power allows them to exploit such systems, leading to excessive pay and corporate malfeasance. It highlights how this conflict of interest contributed to major corporate collapses like Enron and One.Tel, emphasizing the need for reforms beyond current governance mechanisms.

Volume

25

Issue

2

First Page

294

Last Page

319

Publisher

University of New South Wales - Faculty of Law and Justice

Disciplines

Comparative and Foreign Law | Law | Law and Economics | Securities Law

Comments

Thematic Issue: Contemporary Issues in Corporate Governance

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