Regulating Executive Salaries and Reducing Pay Disparities: Is pay disclosure the answer?

Schofield-Georgeson, E

Regulating Executive Salaries and Reducing Pay Disparities: Is pay disclosure the answer?

Schofield-Georgeson, E

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Publisher:: Journal of Australian Political Economy
Publication Type:: Journal Article
Citation:: Journal of Australian Political Economy, 2018, 81 (Winter), pp. 95 - 120
Issue Date:: 2018-07

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Field	Value	Language
dc.contributor.author	Schofield-Georgeson, E https://orcid.org/0000-0003-1022-4844	en_US
dc.date.issued	2018-07	en_US
dc.identifier.citation	Journal of Australian Political Economy, 2018, 81 (Winter), pp. 95 - 120	en_US
dc.identifier.issn	0156-5826	en_US
dc.identifier.uri	http://hdl.handle.net/10453/128137
dc.description.abstract	In 2017 it was reported that Ahmed Fahour, CEO of Australia Post – a publicly owned company – earned AUD$10.8 million in a single year. In 2015, he was paid 119 times the annual salary of the average Australia Post employee ($47,000 per annum). Fahour presided over the organisation's greatest decline in company turnover, accompanied by large-scale retrenchments of low-paid workers (Evershed, 2017). Yet as extravagant as Fahour’s pay appears, it is far from the largest executive remuneration packages paid to CEOs in Australia. In recent years, some have surpassed $30 million per annum. In the United States (US), CEO pay can be 300 times that of the average wage within the company (Mishel and Davis, 2015). Even after a slight ‘correction’ in CEO pay, which dipped in Australia during the Global Financial Crisis from an average of $5.5 million per annum to $4.7 million, David Richardson of The Australia Institute has recently found that CEO pay is on the rise again, averaging $5.2 million last financial year (Patty, 2018; Richardson, 2018).	en_US
dc.publisher	Journal of Australian Political Economy	en_US
dc.relation.ispartof	Journal of Australian Political Economy	en_US
dc.title	Regulating Executive Salaries and Reducing Pay Disparities: Is pay disclosure the answer?	en_US
dc.type	Journal Article
utslib.citation.volume	Winter	en_US
utslib.citation.volume	81	en_US
utslib.for	180105 Commercial and Contract Law	en_US
utslib.for	150303 Corporate Governance and Stakeholder Engagement	en_US
utslib.for	14 Economics	en_US
utslib.for	16 Studies In Human Society	en_US
utslib.for	12 Built Environment And Design	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access
pubs.declined	2018-10-22T06:26:52.110+1100
pubs.consider-herdc	true	en_US
pubs.issue	Winter	en_US
pubs.publication-status	Published	en_US
pubs.volume	81	en_US

Abstract:

In 2017 it was reported that Ahmed Fahour, CEO of Australia Post – a publicly owned company – earned AUD$10.8 million in a single year. In 2015, he was paid 119 times the annual salary of the average Australia Post employee ($47,000 per annum). Fahour presided over the organisation's greatest decline in company turnover, accompanied by large-scale retrenchments of low-paid workers (Evershed, 2017). Yet as extravagant as Fahour’s pay appears, it is far from the largest executive remuneration packages paid to CEOs in Australia. In recent years, some have surpassed $30 million per annum. In the United States (US), CEO pay can be 300 times that of the average wage within the company (Mishel and Davis, 2015). Even after a slight ‘correction’ in CEO pay, which dipped in Australia during the Global Financial Crisis from an average of $5.5 million per annum to $4.7 million, David Richardson of The Australia Institute has recently found that CEO pay is on the rise again, averaging $5.2 million last financial year (Patty, 2018; Richardson, 2018).

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http://hdl.handle.net/10453/128137