管理层薪酬对公司绩效的研究外文翻译.docVIP

外文翻译 原文 Salary affect how performance Material Source：Executive Compensation; 2010/2011 Supplement, Author：Modern Health The SEC has amended its disclosure rules to require, among other matters, a discussion about a company’s compensation policies and practices for all employees if they create risks that are “reasonably likely” to have a material adverse effect on the company, taking into account program features and other factors that mitigate or counteract such risks. The SEC referred in adopting the amendments, indicates that the “reasonably likely” is higher than “possible” but lower than “more likely than not.” That said, a conclusion that the disclosure trigger is not met necessarily rests on an assessment of the balance of risk and reward implied by the company’s compensation program design and incentives, taken as a whole. As with many SEC rules in the post-SOX era, process will be key. A predicate for analyzing the disclosure question will be an inventory and review of the operation of compensation programs for all employees, which should be undertaken promptly in light of the effective date of the rules. In light of regulatory and investor interest arising out of the turbulent climate of 2009, we believe that a focus on the relationship between compensation and risk-at the executive and broad-based levels—will continue. Because this relationship may not always be obvious, even though it is implicit in virtually all significant compensation decisions, we suggest below practical considerations relevant to compensation committee deliberations about these matters. Core Compensation Committee Responsibilities and Risk Compensation committees have four principal responsibilities that intersect with risk, as discussed below. (1) Determining compensation program design. Diversity of compensation opportunities and metrics is the most effective tool to cabin risk implied by a company’s compensation program. A balanced mix of short- and long-term elements ties comp