Lessons from the Rapid Evolution of Executive Remuneration Practices in Australia: Hard Law, Soft Law, Boards and Consultants

Abstract

This chapter for the Research Handbook on Executive Pay, a forthcoming book on executive compensation to be published by Edgar Elgar Publishing, gives a dynamic overview of the key Australian corporate governance and legal rules that impact on executive remuneration practices at publicly-traded Australian corporations. It has a special focus on the role of compensation consultants and their current practices using interview data collected by the author. By documenting the current system and its rapid evolution in the past several years, it hopes to offer some insights into where pay practices in the U.S. may be going in the future and why.