In the words of the US financial watchdog Christopher Cox, shareholders “should not need a machete and a pith helmet to go hunting for what the chief executive makes”. But investors would be well advised not to throw away any sharp utensils and sturdy headgear just yet.
Despite efforts by regulators around the world – including Mr Cox’s Securities and Exchange Commission – to increase transparency and disclosure, corporate remuneration remains a fiendishly complex subject.

Corporate finance 

