Exploring the Remuneration ‘Black Box’: Establishing An Organizational Learning Insight into Changing Remuneration Committee ‘Social Worlds’

Abstract

Current executive compensation research posits a need to extend analysis beyond principalagent theory in order to explore the complex social influences and processes implicated inRemuneration Committee (RemCo) decision-making (e.g. Bender, 2007;Kakabadse et al, 2006;Main et al., 2007)

How to Make Boards Work

“…These are only some of the growing body of voices that claim that executive elite has been able to claim an ever increasing share of wealth of the enterprise and have been awarded inordinate power at the expense of shareholders and the workforce. In this sense, scholars also have criticised agency theory for being too narrow and outdated and that it does not account for changing contextual and/or environmental forces (Teubner, 1996;Kakabadse and Kakabadse, 2003;Aguilera et al, 2008;Christopher, 2010;Rowe and Liu, 2010).…”