UK - Annual bonuses for executives lack disclosure and are often poorly linked to company performance, an academic study shows.
The study, carried out for the Economic & Social Research Council, found that two-thirds of the UK’s top 350 firms failed to inform shareholders of the full performance conditions attach-ed to short-term bonuses.
Under the combined code on corporate governance, companies only have to disclose conditions for long-term bonus schemes.
The study found that 98% of firms pay annual bonuses, with an average payout of £162,000. It showed that 54% of bonuses were paid in cash, with the rest a variety of cash and shares.
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