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How do labor representatives affect incentive orientation of executive compensation?
Dyballa, Katharina; Kraft, Kornelius - 2016
Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at securing the long-run survival of the firm. Consequently, employee representatives on the supervisory board could well have an interest in increasing incentive-based...
Persistent link: https://www.econbiz.de/10011526742
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The gender pay gap in the CEOs' labor market
Tani, Massimiliano; Valentine, Andrew; Sharpe, Kieran - 2022
We study the gender pay gap in the labor market for CEOs by analysing 1,174 outsider CEO successions over the past three decades across 18 countries. We find that male and female CEOs receive a similar compensation overall but this masks marked gender differences in the pay structure: namely,...
Persistent link: https://www.econbiz.de/10013471202
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Management compensation and the economic crisis : longitudinal evidence from the German chemical sector
Grund, Christian; Hofmann, Tanja - 2013
extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards … perspective. We also examine that certain parts of managers seem to have more power to influence their compensation than others …. Inequality in managers' compensation decreased during the crisis. …
Persistent link: https://www.econbiz.de/10009754706
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CEO pay disclosure and within-firm wage inequality
Maida, Agata; Pezone, Vincenzo - 2024
We analyze the effect of CEO pay disclosure on wage distribution by exploiting a 1998 reform requiring Italian publicly listed companies to disclose top executives' compensation. In firms where CEOs disclose high total compensation, the top 5 percent and 1 percent of the within-firm wage...
Persistent link: https://www.econbiz.de/10015050833
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"Should CEOs' salaries be capped?" : a survey experiment on limitarian preferences
Ferreira, João V.; Ramoglou, Stratos; Savva, Foivos; … - 2024
This paper investigates preferences for limiting top incomes and wealth through a surveybased experiment with a large sample of participants (N = 3,954) from the US and Germany. Using a revealed preferences approach, we find that a significant majority (around 85%) of participants support income...
Persistent link: https://www.econbiz.de/10014637223
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CEO and board characteristics as determinants of private benefits of control : evidence from the Russian stock exchange
Berezinec, Irina V.; Ilina, Julja; Muravyev, Alexander - 2011
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
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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/10009533980
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Executive compensation, firm performance, and corporate governance in China : evidence from firms listed in the Shanghai and Shenzhen stock exchanges
Kato, Takao (contributor); Long, Cheryl (contributor) - 2005
managers and thus possibly making China's listed firms less effective in solving the agency problem. As such, ownership …
Persistent link: https://www.econbiz.de/10003225948
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Say pays! : shareholder voice and firm performance
Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria - 2014
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
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Ownership or performance : what determines board of directors' turnover in Italy?
Brunello, Giorgio; Graziano, Clara; Parigi, Bruno - 2000
This paper studies the turnover of board of directors members in a sample of 72 companies listed on the Milan Stock Exchange during the period 1988-1996. We investigate whether board members change more frequently when company performance is poor, as the literature suggests, and whether and how...
Persistent link: https://www.econbiz.de/10011318600