Jesse M. Fried, Cambridge, Massachusetts, recently published a paper on the required Dodd-Frank compensation clawback. In Mr. Fried’s view, the SEC’s proposed Dodd-Frank clawback, while reducing executives’ incentives to misreport, is overbroad. According to Mr. Fried, the economy and investors would be better served by a more narrowly targeted “smart” excess-pay clawback that focuses on fewer issuers, executives, and compensation arrangements.
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