Executive remuneration under scrutiny: The cutting edge of the ‘shareholder spring’

Abstract

As profits and share prices in large corporations fell in recent years, the venerable argument that high pay levels must exist to attract the best people lost credibility. Disgruntled shareholders focussed on excessive levels of executive remuneration. They began to act in concert to discourage excessive remuneration. They voiced other concerns, too. The ‘shareholder spring’ had arrived.