Over the past 20 years, there has been a dramatic increase in the share of executive compensation paid through stock options. We examine the extent to which tax policy has inuenced the composition of executive compensation, and discuss the implications of rising stock-based pay for tax policy. We begin by describing the tax rules for executive pay in detail and analyzing how changes in various...

We analyze the effect of committee formation on how corporate boards perform two main functions: setting CEO pay and overseeing the financial reporting process. The use of performance-based pay schemes induces the CEO to manipulate earnings, which leads to an increased need for board oversight. If the whole board is responsible for both functions, it is inclined to provide the CEO with a compen...

In response to the corporate scandals in 2001-2002, the major U.S. exchanges came up with new regulations which are intended to enhance board oversight. We use this regulation event to shed light on the effect of board oversight on CEO compensation. We find that firms that were not complying with these regulations decreased their CEO compensation by between 20%-25% upon compliance, compared to ...

course, arising out of the Workmen's Compensation Act, but sometimes under common law as well ; and therefore a review of those decisions which have helped to define what an accident is may not be out of place at a medical meeting. It is curious that neither of the Workmen's Compensation Acts contained this definition, so that the meaning of the term has tended to vary case by case. Prior to th...

W ellness is “the active process of becoming aware of and making choices toward a successful existence, both as individuals within society and within the work environment” (1). Wellness enhances physical, mental, and social well-being, and in one word, “health.” In recent years, wellness has moved into the workplace as enterprises — meaning both for-profit and not-for-profit companies, business...

Agricultural and other physically demanding sectors are important sources of growth in developing countries but prevalent diseases such as malaria adversely impact the productivity, labor supply, and occupational choice of workers in these sectors by reducing physical capacity. This study identifies the impact of malaria on worker earnings, labor supply, and daily productivity by randomizing th...

OBJECTIVES Benzene is a widely recognised cause of leukaemia but its association with non-Hodgkin's lymphoma (NHL) is less well established. The goal of this project is to review the current published literature on this association. METHODS We performed a meta-analysis of cohort and case-control studies of benzene exposure and NHL and a meta-analysis of NHL and refinery work, a potential sour...