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Remuneration serves as both compensation for directors’ work and a mechanism to impact ongoing corporate strategy. It is, therefore, valuable to analyze the key features of executive and non-executive director compensation to understand the incentives driving corporate behavior. This in-depth examination helps investors consider the diverse paths taken by different European countries, and sheds light on the corporate futures those countries envision.
This study focuses on the governance of remuneration – the remuneration of executive and non-executive directors as well as the elements that comprise short-term incentive plans (STIPs) and long-term incentive plans (LTIPs), among other pay elements. These topics are examined to identify how various European countries have interpreted and internalized different remuneration elements in order to bolster long-termism in general and sustainability, in particular.
The study takes into account corporate governance codes of the following European countries: Belgium, France, Germany, Greece, Italy, Norway, Poland, Spain, Sweden and the UK. These countries were chosen because they are different from one another in terms of regulations, market practices, and economies; therefore, they can give a clear picture of the diverse corporate governance landscape in Europe.
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Authored By
Monika Frackowiak, Oona Weber, Edoardo Ravagnin
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