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KCI 등재
임원보수 공시에 관한 쟁점의 검토
A Critical Review on Disclosure of Executive Compensation
염미경 ( Mi Kyung Yum )
금융법연구 12권 2호 241-272(32pages)
DOI 10.15692/KJFL.12.2.9
UCI I410-ECN-0102-2016-360-000387806

After the global financial crisis in 2008, the scope of executive compensation disclosure has been expanded. Pursuant to Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission recently propose rules that would require many US SEC registrants to disclosure the relationship between executive compensation actually paid and the company``s financial performance. It implies that In the US the most important criterion to assess executive compensation is the alignment of CEO pay with performance. ISS has multipronged approach to assessing executive compensation for the purposes of recommending a vote for or against the management say-on-pay proposal. The most important criterion is the payfor- performance assessment, and that the most important factor under this payfor- performance assessment is the alignment of CEO pay with total shareholder return. In Korea under the Financial Investment Service and Capital Markets Act §159(2), executive compensation more than 5 hundred million Korea won of any registered director at any listed company should be disclosed with the formula on the compensation. This article suggests that the disclosure of executive compensation should be applied to give shareholders information on pay-forperformance assesment.

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