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Not so lucky any more : CEO compensation in financially distressed firms
Kang, Qiang (contributor); Mitnik, Oscar A. (contributor) - 2008
There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...
Persistent link: https://www.econbiz.de/10003779098
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The productivity effects of profit sharing, employee ownership, stock option and team incentive plans : evidence from korean panel data
Kato, Takao; Lee, Ju-ho; Ryu, Jang-soo - 2010
We report the first results for Korean firms on the incidence, diffusion, scope and effects of diverse employee financial participation schemes, such as Profit Sharing Plans (PSPs), Employee Stock Ownership Plans (ESOPs), Stock Option Plans (SOPs) and Team Incentive Plans (TIPs). In do doing, we...
Persistent link: https://www.econbiz.de/10008796746
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Employee stock purchase plans : gift or incentive? ; evidence from a multinational corporation
Bryson, Alex; Freeman, Richard B. - 2014
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
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Task difficulty, performance measure characteristics, and the trade-off between insurance and well-allocated effort
Schnedler, Wendelin (contributor) - 2006
When designing incentives for a manager, the trade-off between insurance and a "good" allocation of effort across various tasks is often identified with a trade-off between the responsiveness (sensitivity, precision, signal-noise ratio) of the performance measure and its similarity (congruity,...
Persistent link: https://www.econbiz.de/10003323166
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Social connections and incentives in the workplace : evidence from personnel data
Bandiera, Oriana (contributor); Barankay, Iwan (contributor) - 2008
We present evidence on the effect of social connections between workers and managers on productivity in the workplace … workers managed. We find that when managers are paid fixed wages, they favor workers to whom they are socially connected …
Persistent link: https://www.econbiz.de/10003793735
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Bonus payments and reference point violations
Ockenfels, Axel; Sliwka, Dirk; Werner, Peter - 2010
We investigate how bonus payments affect satisfaction and performance of managers in a large, multinational company. We …
Persistent link: https://www.econbiz.de/10003941775
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The gender pay gap in top corporate jobs in Denmark : glass ceilings, sticky floors or both?
Smith, Nina; Smith, Valdemar; Verner, Mette - 2010
This paper analyses the gender gap in compensation for CEOs, Vice-Directors, and potential top executives in the 2000 largest Danish private companies based on a panel data set of employer-employees data covering the period 1996-2005. During the period, the overall gender gap in compensation for...
Persistent link: https://www.econbiz.de/10003945989
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Bonus payments, hierarchy levels and tenure : theoretical considerations and empirical evidence
Grund, Christian; Kräkel, Matthias - 2010
Using data on executive compensation for the German chemical industry, we investigate the relevance of two theoretical approaches that focus on bonuses as part of a long term wage policy of a firm. The first approach argues that explicit bonuses serve as substitutes for implicit career concerns....
Persistent link: https://www.econbiz.de/10009155574
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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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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