Vorliegender Beitrag analysiert die Vergütungen von Vorständen deutscher Unternehmen in dem Jahren 1987-96. Neben der Entwicklung soll auch die Anreizintensität im Zeitablauf betrachtet werden. Die Ergebnisse sollen mit der der Vergütung amerikanischer Manager verglichen werden.

This study explores the relationships between firm performance and the incentive and entrenchment effects of corporate governance structures. It analyzes whether the benefits of providing stock ownership to directors are greater than the potential costs of entrenching officers and directors....

This chart provides a high-level comparison of the principal features (e.g., purpose, transparency, reporting, voting thresholds, etc.) across three variations of legislation relating to the new corporate forms for conducting social enterprise: legislation proposed by B Lab; legislation enacted by...

We investigate the relationship between firms' entry characteristics and their subsequent performance contingent on environmental turbulence and stage of industry life cycle by simulating industry as an NKC landscape. Diversifying entrants differ from entrepreneurial startups in terms of the...

The present paper uses a comparison of Japan and the US to argue that the debate about corporate governance reform is best framed in terms of systems of complementary instruments and institutions. It argues that the Japanese and US systems of corporate governance differ along many dimensions,...

Agency conflicts can arise when a fund manager also chairs the board of the fund. We examine the consequences of this fund manager duality using a broad sample of single managed US equity funds. We find that duality managers significantly underperform non-duality managers. This underperformance...

We consider a two-stage principal-agent model with limited liability in which a CEO is employed as agent to gather information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that the CEO systematically recommends targets with low...