normes de marché | Page 2

Dans le Harvard Law School Forum on Corporate Governance and Financial Regulation, un article intéressant est proposé qui porte sur des propositions en matière de rémunération des dirigeants : « Pay for Performance-Mirage? » (par Cydney Posne, 3 octobre 2019).

Pour en savoir plus : ici

Extrait :

Yes, it can be, according to the Executive Director of the Council of Institutional Investors, in announcing CII’s new policy on executive comp.

Among other ideas, the new policy calls for plans with less complexity (who can’t get behind that?), longer performance periods for incentive pay, hold-beyond-departure requirements for shares held by executives, more discretion to invoke clawbacks, rank-and-file pay as a valid reference marker for executive pay, heightened scrutiny of pay-for-performance plans and perhaps greater reliance on—of all things—fixed pay. It’s back to the future for compensation!

Il est intéressant de noter que le CII indique sur le long terme que : « Executive compensation should be designed to attract, retain and incentivize executive talent for the purpose of building long-term shareholder value and promoting long-term strategic thinking. CII considers “the long-term” to be at least five years. Executive rewards should be generally commensurate with long-term return to the company’s owners. Rewarding executives based on broad measures of performance may be appropriate in cases where doing so logically contributes to the company’s long-term shareholder return ».

À la prochaine…

Selon le Wall Street Journal : « More Companies Are Making Noise About ESG » (4 octobre 2019). Voilà une bonne nouvelle pour la RSE !

Extrait :

Big U.S. companies are increasingly talking up environmental, social and governance factors on earnings calls—and betting that investors increasingly concerned with social responsibility will reward them for it.

Twenty-four companies in S&P 500 mentioned the acronym “ESG” on earnings conference calls between June 15 and Sept. 14, double the number that cited the term in the first quarter, according to FactSet.

That marks a huge increase from just two years earlier, when only two companies referred to ESG in the second quarter of 2017. But it still represents only 5% of the companies in the index.

The financial sector had the highest number of companies mentioning ESG, followed by the real-estate and utilities sectors.

À la prochaine…