This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
Preface,
1. Compensation as an Evolving Field: Past, Present, and Future,
2. Repertoire of Strategic Pay Choices,
3. Pay Choices and Organizational Strategies as an Interrelated Set of Decisions,
4. Executive Compensation: Theoretical Foundations,
5. Determinants and Consequences of Executive Pay,
6. Policy Choices, Strategic Design of Executive Compensation Programs, and Implementation,
7. Risk and Executive Pay,
8. Corporate Social Performance: An Alternative Criteria for the Design of Executive Compensation Programs,
9. Measuring Performance at Different Levels of the Organization,
10. Managing Pay-for-Performance-Systems, References, Index, About the Authors
Luis R. Gomez-Mejia, Pascual Berrone, Monica Franco-Santos
