Executive Compensation: Let’s Look at Fund Managers’ Pay, Too

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Published in Harvard Business July 30, 2009 by Ben W. Heineman

The white hot debate about executive compensation has focused almost exclusively on the “short-termism” of CEOs, other business leaders, and boards at corporations. The causes of the financial meltdown–excessive leverage, imprudent risk-taking, shoddy judgments–stemmed, in important part, from executives’ seeking to gain huge annual bonuses and drive up the immediate value of stock options, with supine board approval.

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