structures for managers in this context. We document that a significant association exists between excess executive compensation … and carbon performance, both based on ESG scores and actual carbon emissions, suggesting that managers earn a compensation … awards. On the one hand, we find no evidence that shareholders dissent less against excess compensation in the say …

Higher CEO incentives can both reduce the conflict between management and shareholders, thereby making blockholder …

substituted salary reductions with increases in cash bonuses. We also investigate shareholders’ approval of executive compensation …