Remuneration committees of the board of directors approve high pay for CEOs on the reasoning that it is needed to attract other top talents to join the organisation.
To justify the high pay, the CEOs and top managers have to improve the profits, i.e. to "increase sharehholder value". This has led to a culture of excessive risk taking and taking advantage of customers. This is the reason for the bad business ethics that was seen in recent years.
Singapore has gone into this bad phase, which has led to a serious loss of trust in business and government institutions. I hope that corrective steps are now taken to improve the business ethics and enviornment in Singapore.
Tan Kin Lian
- ► 2013 (302)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
06/07 - 06/14
- Good and bad acts
- T Puzzle - improve your child's IQ
- Survey: It is easy to be cheated
- Let your insurance company handle the recovery
- SCMP:HSBC marks out areas for wealth products sale...
- SCMP:SFC may regulate all investment offerings
- Easy life in Solo, Indonesia
- It is easy to be cheated (12) - Buying shares
- It is easy to be cheated (11) - Life policy with a...
- High Executive Pay
- TKL Intelligence Quz
- Executive rewards for what?
- Cut in maturity benefit just before maturity
- Is Animal Farm relevant to Singapore?
- It is easy to be cheated (10) - Orphan money
- Logic Quiz 5-2 (Vol 4)
- President Obama's plans to create new jobs
- It is easy to be cheated (9) - A better way to gam...
- Writing fee
- Speaking fee
- It is easy to be cheated (8) - Your private banke...
- A positive attitude
- ▼ 06/07 - 06/14 (22)
- ► 2008 (2105)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)