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Ownership or Performance: What Determines Board of Directors' Turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno Maria - 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/10010276137

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

Fabbri, Francesca; Marin, Dalia - 2012

the literature on executive pay: the manager power hypothesis and the efficient pay hypothesis. We find support for the … manager power hypothesis for Germany as executives tend to be rewarded when the sector is doing well rather than the firm they … work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in …

Persistent link: https://www.econbiz.de/10010282632

Ownership or Performance: What Determines Board of Directors' Turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno - Institute for the Study of Labor (IZA) - 2000

Persistent link: https://www.econbiz.de/10005566811

Executive compensation, firm performance, and chaebols in Korea: evidence from new panel data

Kato, Takao; Kim, Woochan; Lee, Ju Ho - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10010267324

Social networks in the boardroom

Kramarz, Francis; Thesmar, David - 2006

This paper provides empirical evidence consistent with the facts that (1) social networks may strongly affect board composition and (2) social networks may be detrimental to corporate governance. Our empirical investigation relies on a unique dataset on executives and outside directors of...

Persistent link: https://www.econbiz.de/10010267612

Firm performance and managerial turnover: the case of Ukraine

Muravyev, Alexander; Talavera, Oleksandr; Bilyk, Olga; … - 2009

ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …

Persistent link: https://www.econbiz.de/10010271280

The value relevance of top executive departures: evidence from the Netherlands

Cools, Kees; van Praag, C. Mirjam - 2007

On theoretical grounds, monitoring of top executives by the (supervisory) board is expected to be value relevant. The empirical evidence is ambiguous and we analyze three non-competing explanations for this ambiguity: (i) The positive effect on firm value of board monitoring is hidden in stock...

Persistent link: https://www.econbiz.de/10010276315

Individual and corporate social responsibility

Bénabou, Roland; Tirole, Jean - 2009

Society's demands for individual and corporate social responsibility as an alternative response to market and distributive failures are becoming increasingly prominent. We first draw on recent developments in the psychology and economics of prosocial behavior to shed light on this trend, which...

Persistent link: https://www.econbiz.de/10010269689

Rhineland exit?

Bovenberg, Ary Lans; Teulings, Coen N. - 2008

We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

Persistent link: https://www.econbiz.de/10010276859

CEO turnover, firm performance and enterprise reform in China: evidence from new micro data

Kato, Takao; Long, Cheryl - 2006

Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...

Persistent link: https://www.econbiz.de/10010274393

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