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The Unintended Consequences of Say-on-Pay Votes
The Harvard Law School Forum on Corporate Governance and Financial Regulation Link to more items from this source
July 10, 2013

"The confluence of Say on Pay (SOP) votes and heightened scrutiny plus the influence of proxy advisory firms (particularly ISS) are having a major unintended consequence -- the movement to 'one-size-fits-all' or homogenization of executive compensation programs.... [S]ome of the new homogenized practices may be perfectly acceptable for a given company or group of companies in a given set of circumstances, but it is unlikely that such uniformity is ideal for the large number of companies conforming due to external pressure."

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