According to a new survey, most of the Indian business leaders believe that shareholders must play a bigger role in the remuneration policy for senior executives in large public companies in India.

About 70 per said that they want to see shareholders play an important role in setting CEO compensation in large public firms in the country. Most of the respondents, about two-third said that they believe that senior executives are public enterprises are paid too much, according to Grant Thornton International Business Report.

"As much as 78 per cent believe that senior executives are paid too much. Senior executives have to clearly demonstrate performance, and tangible, measurable value, to the ones who matter most -the shareholders," said Vinamra Shastri, Grant Thornton India Partner and Practice Leader.

The survey also said that 89 per cent of the shareholders believe that executive remuneration at public companies should be linked to their performance. Shastri pointed out that there is strong demand fro transparency at the public firms relating to the remuneration policy.

The poll was carried out by Experian in May-June 2012 as part of the Grant Thornton International Business Report.