Irish Heritage Short Courses
Mondays in February
Summerside's Role in Ban The Automobile: Instrument of Death
Clyde River History Lecture Series
PEI History of Medicine Society
"Death on the Miramichi: Community Responses to Sick Immigrants in Mid-Nineteenth-Century New Brunswick," will be presented by Dr. Lisa Chilton of the UPEI History Department on March 14 at 7 pm in the Main Faculty Lounge, UPEI.
UPEI's Research on Tap: Dr. Andrew Carrothers
On March 20, Dr. Andrew Carrothers is presenting his work at UPEI's Research on Tap to be held on March 20. His presentation, "The Impact of Public Scrutiny on Executive Compensation: Evidence from the Financial Crisis," will examine the impact of public scrutiny on executive compensation using the unique opportunity provided by the 2008 financial crisis and the Troubled Asset Relief Program (TARP). It introduces novel data on executive perks at S&P (Standard and Poors) 500 firms from 2006 to 2012. Overall, the results are consistent with increased public scrutiny having lasting impact on perks and temporary impact on monetary compensation, and with legislated compensation restrictions having temporary impact on monetary compensation. Changes in specific perks items provide evidence on which perks firms perceive as excessive and which provide common value.
The financial crisis of 2008 is arguably the largest global macroeconomic shock since the Great Depression. There is widespread blame for the crisis on excessive risk-taking by executives at financial institutions, with accusations that the structure of compensation plans incented these executives to embrace risks. Over past decades, compensation committees of company boards of directors adjusted the structure of pay packages with the express purpose of minimizing agency conflict by aligning interests of top executives and shareholders. Yet, it is these very compensation plans that became the subject of heated criticism. Calls for reform of executive compensation are widespread in academic, political, and public circles, and are coincident with a dramatic increase in executive compensation since the 1980s. Compensation reformists became increasingly vocal as scrutiny of executive pay intensified in the wake of the financial crisis.
Research on Tap will take place from 6:30–7:30 pm on March 20 at The Wave in UPEI's WA Murphy Student Centre, 550 University Ave, Charlottetown.