Planning on discontinuing eps and comparing tsr to

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Unformatted text preview: made worse by it (minority shareholder exploitation etc.) Week 12: Financial Institutions and the Global Financial Crisis • • • • TARP: Bought toxic assets in return for executive pay cuts. Independence in Banks: Too many independent executives might be bad for banks. No knowledge. Should banks be less independent? Executive Pay in Banks: Not high once firm size is accounted for. Fake Returns: Returns are high when normal, but when you lose, you lose a lot. Qantas Reading • • • • 10 directors (9 independent non ­executive) Nomination(4)/Audit(4)/Remuneration(3) Committees. CEO & Executives Remuneration: FAR + STIP (KPIs) + LTIP (EPS, TSR Rank on ASX100). Planning on discontinuing EPS and comparing TSR to airline industry. Non ­executives Remuneration: Board fee only (much lower compared to ANZ) ANZ Reading • • • • • 8 directors (7 independent non ­executive) CEO Remuneration: Fixed +...
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This document was uploaded on 02/27/2014 for the course FINS 1613 at University of New South Wales.

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