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contributed to the rise in executive pay in Germany. Lastly, we show that CEOs in the banking sector are provided with incentives …The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypotheses in …
Persistent link: https://www.econbiz.de/10009533980
This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder-sponsored SoP proposals. Adopting SoP leads to large increases...
Persistent link: https://www.econbiz.de/10010414206
interest in increasing incentive-based compensation to avoid management's excessive risk taking and short-run oriented …
Persistent link: https://www.econbiz.de/10011526742
We study the effects of a field experiment designed to motivate employee ideas, at a large technology company. Employees were encouraged to submit ideas on process and product improvements via an online system. In the experiment, the company randomized 19 account teams into treatment and control...
Persistent link: https://www.econbiz.de/10010342449
Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...
Persistent link: https://www.econbiz.de/10010414209
incentives have the potential to curtail the role of these factors in favor of performance – in particular when the incentive … the effects of such team incentives on task assignment and performance. We introduce team incentives in a random subsets …
Persistent link: https://www.econbiz.de/10011776037
multiple tasks. We first analyze a formal model showing that incentives are lower powered when supervisors have no access to … span of control is larger and incentives are distorted towards more profitable tasks. We then investigate a field …
Persistent link: https://www.econbiz.de/10011871952
This paper investigates whether and how various characteristics of CEOs and corporate boards are related to the severity of corporate governance problems within firms. The latter is proxied by private benefits of control, which we measure for dual class stock firms using the voting premium...
Persistent link: https://www.econbiz.de/10009524994
levels and rather for management jobs than for jobs in research and development. This is true for the whole chemical sector …
Persistent link: https://www.econbiz.de/10009155574
Making use of unique balanced panel data for the German chemical sector from the years 2008 to 2011, we explore the extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards. Carrying out longitudinal analyses, we find that, on...
Persistent link: https://www.econbiz.de/10009754706