The hypotheses have emerged out of a large-scale review of around 450 articles on executive compensation and related fields, review meetings with the referees of this dissertation and my work at the multinational corporation ABB. Working for the head of executive remuneration, I was involved in the design and development of a group-wide Employee Share Acquisition Plan (ABB ESAP) at ABB Global Headquarters and the project manager for the implementation of this plan within ABB Australia. Among others, this job assignment enabled me to conduct interviews with experts in the field of executive remuneration, thus gaining a deeper understanding of the top management pay scene. I conducted interviews with Gary Steel, Head of HR, member of the Executive Committee and secretary to the Compensation Committee of ABB, David Tankel, Managing Director of London-based New Bridge Street Consultants and expert on executive remuneration, Hanspeter Fässler, member of the compensation committee of Daetwyler, and Prof. Dr. Rolf Dubs, chairman of the compensation committee of Schindler and member of the board of directors of Julius Bär. With the exception of the consultancy, all of these firms are included in my sample. Furthermore, I have gained insight into the processes and workings of top management teams in my current position as an assistant to the Executive Committee of ABB Switzerland Ltd, the ABB Group’s Swiss country organization employing 5, 000 employees. In this position, I have regularly attended top management and board of directors meetings.
KeywordsCorporate Governance Chief Executive Officer Stock Option Executive Compensation Total Compensation
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