Reflections on CEO Compensation

Abstract

Academy of Management PerspectivesVol. 22, No. 2 ArticlesReflections on CEO CompensationJohn C. BogleJohn C. BogleJohn C. Bogle () is founder and former CEO, The Vanguard Group.Published Online:1 May 2008https://doi.org/10.5465/amp.2008.32739756AboutSectionsView articleView Full TextPDF/EPUB ToolsDownload CitationsAdd to favoritesTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail View articleReferences Buffett W. (2005). Chairman's Letter, Berkshire Hathaway 2005 Annual Report. Google Scholar Graham B. (2005). The intelligent investor. New York: HarperCollins. (Original work published in 1949) Google ScholarFiguresReferencesRelatedDetailsCited byComplementarity in Monitoring and Bonding: More Intense Monitoring Leads to Higher Executive CompensationRobert E. Hoskisson, Mark W. Castleton and Michael C. Withers1 May 2009 | Academy of Management Perspectives, Vol. 23, No. 23 Merger and Acquisition Transactions and Executive Compensation: A Review of the Empirical EvidenceVirginia Bodolica and Martin Spraggon1 January 2009 | Academy of Management Annals, Vol. 3, No. 1The immoral assault on CEO payEdwin A. Locke1 August 2008 | Academy of Management Perspectives, Vol. 22, No. 3Are U.S. CEOs Overpaid? A Response to Bogle and WalshSteven N. Kaplan1 August 2008 | Academy of Management Perspectives, Vol. 22, No. 3 Vol. 22, No. 2 Permissions Metrics in the past 12 months History Published online 1 May 2008 Published in print 1 May 2008 Information© Academy of Management PerspectivesKeywordsCHIEF executive officersEXECUTIVE compensationSTOCKS (Finance) -- PricesCORPORATE governanceUNITED States -- Economic conditionsThis article is in response to Steven N. Kaplan's Congressional testimony on empowering shareholders on executive compensation and H.R. 1257, the Shareholder Vote on Executive Compensation Act before the Committee on Financial Services of the United States House of Representatives, on March 8, 2007. The ideas expressed in Mr. Kaplan's article in this issue are based largely on this testimony. Due to timing issues, we asked Mr. Bogle to respond to Mr. Kaplan's testimony, not to the article that appears in this issue. To access the full testimony, visit www.house.gov/apps/list/hearing/financialsvcs_dem/htkaplan030807.pdf.Download PDF