Application of distributive justice theory to the CEO pay problem: Recommendations for reform [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 12 (6):469 - 482 (1993)
An ethical analysis of chief executive officer (CEO) salaries can be approached via theory on distributive justice and an examination of some corporate codes of ethics. U.S. CEO salaries are compared with their Japanese and European counterparts, and factors behind the high U.S. CEO salaries are reviewed. The negative repercussions of high pay are discussed, including feelings of unfairness, declining morale and greater cynicism found in lower level employees. Reduced research and development budgets, and downsized organizations are related to the maintenance of high CEO salaries. After considering economic repercussions, recommendations for reform, which lead to the greatest expected benefit of the least advantaged, are made.
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References found in this work BETA
William H. Shaw (1999). Business Ethics. Monograph Collection (Matt - Pseudo).
David Miller (1992). Distributive Justice: What the People Think. Ethics 102 (3):555-593.
Craig Cox & Sally Power (1991). Executive Pay: How Much Is Too Much? Business Ethics; The Magazine of Corporate Responsibility 5 (5):18-24.
Citations of this work BETA
Ruth Bender & Lance Moir (2006). Does 'Best Practice' in Setting Executive Pay in the UK Encourage 'Good' Behaviour? Journal of Business Ethics 67 (1):75 - 91.
Kiridaran Kanagaretnam, Gerald J. Lobo & Emad Mohammad (2009). Are Stock Options Grants to Ceos of Stagnant Firms Fair and Justified? Journal of Business Ethics 90 (1):137 - 155.
Hua Zhang, Yuanyang Song & Yuan Ding (forthcoming). What Drives Managerial Perks? An Empirical Test of Competing Theoretical Perspectives. Journal of Business Ethics.
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