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The Impact of Changes in Second Pension Pillars on Public Finances in Central and Eastern Europe

Egert, Balazs - CESifo - 2012

This paper studies the impact of recent changes in second pension pillars of three Central and Eastern European Countries. The paper seeks to answer the following questions: i) what is the impact on the sustainability of Poland’s pension system of the decrease in the pension contribution going...

Persistent link: https://www.econbiz.de/10010546956

Maintaining One's Living Standard at Old Age: What Does that Mean? Evidence Using Panel Data from Germany

Dudel, Christian; Ott, Notburga; Werding, Martin - CESifo - 2013

How much retirement income is needed in order to maintain one’s living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis-à-vis income in the pre-retirement period....

Persistent link: https://www.econbiz.de/10010643338

Works Councils and Environmental Investment: Theory and Evidence from German Panel Data

Askildsen, Jan Erik; Jirjahn, Uwe; Smith, Stephan C. - CESifo - 2002

Firms may underinvest in local environmental protection even from the private viewpoint of its owners and employees, but works councils may help mitigate this problem. We show that increases in environmental investments when councils are present could be employee-led, firm-led, or jointly-led....

Persistent link: https://www.econbiz.de/10005766207

The Benefits of Being Economics Professor A (and not Z)

Praag, Mirjam van; Praag, Bernard M.S. van - CESifo - 2007

Alphabetic name ordering on multi-authored academic papers, which is the convention in the economics discipline and various other disciplines, is to the advantage of people whose last name initials are placed early in the alphabet. As it turns out, Professor A, who has been a first author more...

Persistent link: https://www.econbiz.de/10005766276

Lessons of the Financial Crisis for the Design of National Pension Systems

Burtless, Gary - CESifo - 2009

The recent financial crisis and historical record suggest important lessons about the design of national pension systems. First, wide fluctuation in asset returns makes it hard for well-informed savers to select a saving rate or a sensible investment strategy for DC pensions. Workers who follow...

Persistent link: https://www.econbiz.de/10005029257

Corporate Philanthropy and Productivity: Evidence from an Online Real Effort Experiment

Tonin, Mirco; Vlassopoulos, Michael - CESifo - 2014

Contributing to a social cause can be an important driver for workers in the public and non-profit sector as well as in firms that engage in Corporate Philanthropy or other Corporate Social Responsibility policies. This paper compares the effectiveness of social incentives - that take the form...

Persistent link: https://www.econbiz.de/10010764293

Innovation in the Supply and Procurement of Rig Services

Osmundsen, Petter - CESifo - 2014

Substantial elements of innovation have been observable during recent years in rig supply, in particular regarding contracts and organisation. This trend has been driven by the fact that rising costs over many years have put profitability under pressure. On the basis of theory and available...

Persistent link: https://www.econbiz.de/10010948889

What is the Relation (if any) Between a Firm's Corporate Governance Arrangements and its Financial Performance?

Wessels, Roberto E.; Wansbeek, Tom J.; Dam, Lammertjan - CESifo - 2014

We present a model to test the null hypothesis that firms organize their corporate governancearrangements optimally given the constraints they face. Following the literature, the modelrejects the null if the conditional correlation between governance and performance issignificantly different...

Persistent link: https://www.econbiz.de/10011249564

CEO Preferences and Acquisitions

Jenter, Dirk; Lewellen, Katharina - CESifo - 2011

of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs’ private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … in takeover activity appears discretely at the age-65 threshold, with no gradual increase as CEOs approach retirement age …

Persistent link: https://www.econbiz.de/10009399662

Optimal Delegation when the Large Shareholder has Multiple Tasks

Graziano, Clara; Luporini, Annalisa - CESifo - 2010

We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to gather information on investment projects. The initial owner has two tasks: monitoring the manager and supervising project choice. Optimality would require a large ownership...

Persistent link: https://www.econbiz.de/10008596583

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