The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Mon, 08 Jun 2026 16:11:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Congressional Hearings on CEO Pay – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Congressional Hearings on CEO Pay https://corpgov.law.harvard.edu/2007/03/12/congressional-hearings-on-ceo-pay/?utm_source=rss&utm_medium=rss&utm_campaign=congressional-hearings-on-ceo-pay https://corpgov.law.harvard.edu/2007/03/12/congressional-hearings-on-ceo-pay/#comments Mon, 12 Mar 2007 15:45:03 +0000 http://blogs.law.harvard.edu/corpgov/2007/03/12/congressional-hearings-on-ceo-pay/?d=20070312114503EDT Editor’s Note: This post is by Steven Kaplan of the University of Chicago.

Chairman Barney Frank and the House Committee on Financial Services held hearings last week on CEO pay.  Lucian Bebchuk, Nell Minow and I were among those who testified.  My testimony is available here.  The testimony argues and presents evidence that the typical CEO is not overpaid. 

Two points are worth emphasizing.  First, the top 25 hedge fund managers earned more in 2004 than all 500 S&P 500 CEOs combined.  The same was true in 2005.  Second, when pay is measured by the amount of money CEOs actually receive (which includes exercised options), the typical CEO is highly paid for performance.

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