The ethical and legal scandals at Enron, WorldCom, Tyco and many other businesses in the United States, Europe and Asia have shaken people’s confidence in business. Corporate Integrity and Accountability seeks to address questions of corporate integrity as they arise for financial reporting, executive compensation, globalization, and business ethics itself. The chapters are the product of leading business ethicists—both academic and practitioner—in the U.S. and Europe, resulting in the application of different methodologies, sources, and forms of argument. This gives the reader a sense not only of the complexity of some of the ethical issues business faces, but also the richness of the various resources that are available to address these issues.

CEO Compensation: Parameters, Paradigms, and Paradoxes

CEO Compensation: Parameters, Paradigms, and Paradoxes

CEO compensation: Parameters, paradigms, and paradoxes
Eleanor R. E.O'Higgins

In May 2003, faced with outrage from corporate governance advisors and trade unions, HSBC, a U.K.-based global banking group, issued a defense of its remuneration package to Bill Aldinger, head of its U.S. operations. Mr. Aldinger had been chief executive of Household, a U.S. company bought by HSBC for $14 billion earlier in the year. On the takeover, Mr. Aldinger received $20.3 million and stands to receive a further $37 million over a three-year period, together with the use of a company jet for personal holidays, free dental care for life, and a multimillion-dollar payoff if he is dismissed from his job. HBSC stressed that the payment reflected exceptional one-off arrangements under ...

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