At BAT and other British companies, the compensation proposal originates not with the remuneration committee but with the management.

FORBES: CEO Pay

What does not help is that management theory about remuneration seems often to be based on a set of completely erroneous assumptions about human behaviour.

FORBES: Employee remuneration systems are often based on the wrong assumptions

It also boasts of a focus on business niches in which it can secure a top-five position, and a pioneering risk-management system that emphasises the creation of shareholder value, and links employees' remuneration to their value to shareholders.

ECONOMIST: Investment banking