13 Executive compensation and the role of company law

The role of company law in executive compensation can be divided into four aspects: (i) the obligation to make remunerations public; (ii) the distribution of decision-making powers and representative authority when establishing the remuneration; (iii) the possibility to make adjustments or to instigate clawback; and (iv) the assessment of executive compensation by the courts. The third part of this dissertation examined these four topics in the countries under investigation. The first step was to examine by topic what the current company law situation is in each of the investigated countries in relation to executive compensation. Next, each topic was examined in turn to see whether new legislation would contribute to resolving the key problems identified in the second part.