A question for clarification, what does "systems SOP" mean?

I am familiar with all other terms in the question. Also looking up the other questions on SOP, I couldn't get a clue about the terms' meaning..

Sop: Say in Pay system whan the Ownership decide on the Ceo pay. 

Votes on remuneration by the shareholders' meeting (Say on Pay). It is not obligatory but in many studies it is argued that the behavior of shareholders could influence the remuneration policies.

SOP generally comes with a complete reform of the regulation on CEO pay. I would guess it has an effect. Generally, I've seen papers recently on how activism affects Corporate Governance even when it (Activism) fails. I guess there is US research on the effects of SOP.

as i know, common law countries have strong enforcement therefore activism might play a role but in civil law countries the enforcement of corporate governance is quite low and thus activism may not play a role

In France Say On Pay has little influence till now. In this civil law counrtry CEO's compensations are much more related to the size of the company, and not really to  its profits and only a little to shareholders activism..

Hi,

YTHis kis just to signal the existence of a new habit:

J Xu, J Yang "Golden hellos: Signing bonuses for new top executives", Journal of Financial Economics, 2016,forthcoming

Best regards

HI,

This seems strange, but have a look:

Growth through rigidity: An explanation for the rise in CEO pay

Journal of Financial Economics, 123, January 2017: Pages 1-21

Kelly Shue, Richard R. Townsend

Best regards

HI,

Here it is:

The Role of Proxy Advisory Firms: Evidence from a Regression-Discontinuity Design.

By: Malenko, Nadya; Yao Shen. Review of Financial Studies. Dec2016, Vol. 29 Issue 12, p3394-3427. 34p.

Best regards

Hi,

Here is another one:

 Say on pay laws, executive compensation, pay slice, and firm valuation around the world

Journal of financial economics, dec ember 2016, vol 122, Pages 500-520

Best regards