Executive compensation has moved through different phases over the last 70 years. From a base salary with a modest bonus added on, compensation skyrocketed after the mid-1980s with the practice of large stock options grants Changes in the nature of ownership and governance of publicly listed...

The arguments pros and cons a non-binding vote by shareholders on executive compensation do not readily tip the balance in one direction or the other. The sense of unfairness and the frustration with some patent cases of excessive compensation have generated a good deal of sympathy for more...