The study, 'CEO Compensation: Evidence From the Field', surveyed more than 200 directors and 150 investors in FTSE-listed companies. It reveals the dynamics around remuneration of CEOs, including the objectives and constraints facing board directors and professional investors in devising executive pay, as well as the factors determining CEO ;

Key to the findings are the underlying differences in opinion between directors and investors which may be a root cause for disagreements on pay packages. Investors typically focus on the detail in incentive plans and levels of pay, whereas boards are more focused on getting the right person, and, if they are good, keeping them through competitive pay awards and tailored remuneration packages.

There may also be more consensus on some aspects than thought. Directors are concerned that investors prevent them from tailoring contracts and prefer short-term returns, yet many investors would like directors to tailor and make incentives more long-term. Both investors and some directors support paying the CEO like a long-term owner, with restricted shares rather than bonuses and long-term incentive plans, which suggests a path forward.

The study findings will be presented by the authors during this online seminar, to include a discussion with a Director and an Investor who participated in the survey.

Welcome and Introduction 
Moderator/co-author: Tom Gosling,  Executive Fellow, CCG, London Business School and former Partner at PwC

Paper Presentation: CEO Compensation: Evidence From the Field
Alex Edmans, Dirk Jenter, Tom Gosling

Presented by: Alex Edmans, Professor of Finance, London Business School and Academic Director, CCG; ECGI Fellow

Discussion and Q&A
Deanna Oppenheimer, Founder, CameoWorks and Chair, Hargreaves Lansdown
Habib Subjally, Senior Portfolio Manager and Head of Global Equities, RBC Global Asset Management

Closing Remarks
Moderator/co-author: Tom Gosling,  Executive Fellow, CCG, London Business School and former Partner at PwC