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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 … manager power hypothesis for Germany as executives tend to be rewarded when the sector is doing well rather than the firm they …
Persistent link: https://www.econbiz.de/10013108264
We provide an analysis of enforcement policies applicable to formal sector in dual labor markets. We use a framework with heterogeneous firms, endogenous determination of informal wage and politically dictated enforcement strategies. Firms which operate both in the formal and informal sectors do...
Persistent link: https://www.econbiz.de/10013120119
We model the aid allocation decision where the donor government has announced that good governance is the criterion for receiving aid. Potential recipients must compete for the aid funds. The structure of the competition is important to the donor in terms of achieving good governance, and to the...
Persistent link: https://www.econbiz.de/10013325086
This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...
Persistent link: https://www.econbiz.de/10013106948
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/10013112769
The paper studies whether and how CEO turnover in Ukrainian firms is related to their performance. Based on a novel dataset covering Ukrainian joint stock companies in 2002-2006, the paper finds statistically significant negative association between the past performance of firms measured by...
Persistent link: https://www.econbiz.de/10013156404
Using a unique database of over 20 million firms over two decades, we examine the industry sector and national institution drivers of the prevalence of women directors on supervisory and management boards in both public and private firms across 41 advanced and emerging European economies. We...
Persistent link: https://www.econbiz.de/10012843707
In this paper, we study the roles of expertise and independence on governing boards in the context of education. In particular, we examine the causal influence of professional educators elected to local school boards on education production. Educators may bring valuable human capital to school...
Persistent link: https://www.econbiz.de/10012867992
This paper studies economic effects of the gender composition of corporate boards, employing a new and unique longitudinal dataset of virtually all Russian companies whose shares were traded on the national stock market between 1998 and 2014. Using multiple identification approaches, alternative...
Persistent link: https://www.econbiz.de/10012868825
This paper provides new evidence on the structure, dynamics and performance effects of corporate boards in publicly traded companies in Russia. It takes advantage of a new and unique longitudinal dataset of virtually all Russian companies whose shares were traded in the RTS/MICEX/MOEX over...
Persistent link: https://www.econbiz.de/10012977060