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CEO Compensation : Evidence from the Field

Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021

We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...

Persistent link: https://www.econbiz.de/10013220138

Attention-Driven Demand for Bonus Contracts

Dertwinkel-Kalt, Markus - 2019

In many markets supply contracts include a series of small, regular payments made by consumers and a single, large bonus that consumers receive at some point during the contractual period. But, if for instance its production costs exceed its value to consumers, such a bonus creates...

Persistent link: https://www.econbiz.de/10012890631

Incentives, Self-Selection, and Coordination of Motivated Agents for the Production of Social Goods

Bauer, Kevin; Kosfeld, Michael; von Siemens, Ferdinand - 2021

We study, theoretically and empirically, the effects of incentives on the self-selection and coordination of motivated agents to produce a social good. Agents join teams where they allocate effort to either generate individual monetary rewards (selfish effort) or contribute to the production of...

Persistent link: https://www.econbiz.de/10013217557

Moral Hazard in Electoral Teams

Cox, Gary W. - 2020

How do parties motivate candidates to exert effort in closed-list elections? If each candidate's primary goal is winning a seat, then those in safe and hopeless list positions have weak incentives to campaign. We present a model in which (i) candidates care about both legislative seats and the...

Persistent link: https://www.econbiz.de/10012830995

The Perks of Being in the Smaller Team : Incentives in Overlapping Contests

March, Christoph - 2020

We investigate overlapping contests in multi-divisional organizations in which an individual's effort simultaneously determines the outcome of several contests on different hierarchical levels. We show that individuals in smaller units are advantaged in the grand (organization-wide) contest for...

Persistent link: https://www.econbiz.de/10012845683

Outside Options and Worker Motivation

Ahammer, Alexander; Fahn, Matthias; Stiftinger, Flora - 2023

We study the relationship between outside options and workers’ motivation to exert effort. We evaluate changes in outside options arising from age and experience cutoffs in the Austrian unemployment insurance (UI) system, and use absenteeism as a proxy for worker effort. Results indicate that...

Persistent link: https://www.econbiz.de/10014345957

Incentive Complexity, Bounded Rationality and Effort Provision

Abeler, Johannes; Huffmann, David B.; Raymond, Collin - 2023

Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...

Persistent link: https://www.econbiz.de/10014346847

Incentive and Signaling Effects of Bonus Payments : An Experiment in a Company

Deversi, Marvin; Spantig, Lisa - 2023

, using a sample of managers and employees from a large company. We exogenously vary whether managers are informed about … matched to informed managers learn that the manager could base their incentive choice on cooperation levels. We find no … information. The absence of the signaling effect seems related to the perception of managers’ intentions, a mitigating but …

Persistent link: https://www.econbiz.de/10014259692

What explains the rise in CEO pay in Germany? A panel data analysis for 1977-2009

Fabbri, Francesca; Marin, Dalia - 2012

work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

Persistent link: https://www.econbiz.de/10010281035

Does High Inflation Cause Central Bankers to Lose Their Job? Evidence Based on a New Data Set

Dreher, Axel; Sturm, Jan-Egbert; de Haan, Jakob - 2021

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

Persistent link: https://www.econbiz.de/10013316991

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