Say on Pay in 2011, and What to Expect for 2012
Harvard Business Review
OCTOBER 3, 2011
We found that investors voted "no" on Say on Pay for four primary reasons: A disconnect between pay and performance (92 percent), with performance generally defined as relative and absolute Total Shareholder Return (TSR) over one, three, and five years; or financial performance, such as revenue and earnings growth, over multi-year timeframes.
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