Source: Bruce R. Ellig, Compensation & Benefits Review, Vol. 45 no. 3, May/June 2013
From the abstract:
Company stakeholders have varying degrees of interest and influence on executive pay actions. These are analyzed in terms of their relative importance on the pay elements and time periods beginning with 1900. The ratio of CEO pay to other workers is reviewed. The stakeholders include executives themselves, other employees, shareholders (and their representatives on the board of directors and compensation committee), company customers and suppliers, as well as the community (business press, governmental regulators and rule makers and shareholder watchdogs).