... discharging corporate governance responsibilities create a status-quo-preserving isomorphic effect, restricting context-sensitive approaches to KMP pay determination. Practical implications The paper informs action by company directors, investors and policy makers to address KMP pay controversies...

... on decision making by elite actors, informed by corporate governance codification artefacts and theoretical considerations inspired by notions of the social construction of reality. Design/methodology/approach Using documentary materials to trace evolution of executive remuneration regulation in the UK...