Brunarski, Kelly R.; Campbell, T. Colin; Harman, Yvette S. - In: Journal of Corporate Finance 30 (2015) C, pp. 132-149
this provision suggest these votes benefit shareholders by increasing investor influence over managerial compensation …. Opponents of the SOP provision believe compensation contracting is better done by well-informed and unobstructed boards of … outcomes, nor do we find a subsequent change in firm value. Finally, we find excess compensation increases for managers that …