Inequality & Distribution
Jan 10, 2018
How did globalization create such discontent in developed and developing countries alike? Nobel laureate and INET grantee Joseph Stiglitz explains in this 150th episode of our “New Economic Thinking” video series.
May 15, 2019
The implications of rising inequality are massive. Economists need to tackle it together.
Sep 4, 2018
In Europe and the United States, stock-based compensation discourages long-term corporate sustainability
Working Paper Series
This paper adds to the empirical evidence on the extent to which stock-based pay incentivizes and rewards European corporate executives. It shows that the actual realized gains (that is, take-home compensation) from stock-based pay of CEOs in European publicly-listed firms may be underestimated by the use of “estimated fair value” measures. The paper also documents the heterogeneity among countries in terms of the levels and components of CEO take-home pay. We base our work on a sample of 301 large, publicly-traded companies listed in the S&P Europe 350 index from 11 EU countries: Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Spain, Sweden and United Kingdom for the fiscal year 2015. Through analyzing companies’ annual reports, we have hand-collected data on various elements of compensation of the company’s CEO in 2015, including the gains that executives realize from stock-based pay. We document that on average half of the total compensation of the European CEOs in our sample is stock-based, measured by actual realized gains, with large differences among countries. Although in some European countries the majority of total compensation is stock-based, the proportions are still well below those that prevail in the
May 30, 2019
A collection of our research on populism, globalization and nationalism
May 1, 2019
Lance Taylor, Emeritus Professor of Economics at The New School for Social Research, delivers the annual Heilbroner Memorial Lecture on the Future of Capitalism.
May 22, 2019
Artificial intelligence doesn’t have to be a job killer—if we use it right
Jun 4, 2019
Returns on wealth exceed growth for more countries, more years, and more dramatically than Piketty has found
Jun 10, 2019
How free electricity could fight climate change and inequality
Chaired by Nobel laureates Joseph Stiglitz and Michael Spence, INET has assembled a global team of leaders and scholars calling for new thinking & new rules for the world economy
Hosted by Private Debt
Jun 20–21, 2019
Shaped by the 2008 financial crisis, a new generation of economists is expanding the boundaries of economic thinking on credit cycles, private debt, and financial stability.
Jun 21, 2019 |