Regulating corporate directors' pay and performance: a comparative review.

This article looks at the practice and reform with regard to directors' pay and performance in Australia, the United Kingdom (UK) and Nigeria. It examines the use and impact of incentive plans, long-term, short-term, and performance-related, in compensating directors. Although all three jurisdictions can benefit from further reforms, this work finds that Australia's strong oversight of directors' pay and performance provide a more robust corporate governance strategy than the other two jurisdictions. It also argues that contrary to the UK's non-interventionist approach, without a robust regime for addressing directors' pay, the chances of corporate failure are increasingly greater. Emerging economies like Nigeria need even stronger oversight to attract much needed investment and maintain confidence in the Nigerian corporate sector