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Does codetermination affect the composition of variable versus fixed parts of executive compensation?
Dyballa, Katharina; Kraft, Kornelius - 2015
Contrary to previous literature we hypothesize that interests of labor 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/10011308423
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Bank owners or bank managers : who is keen on risk? ; evidence from the financial crisis
Gropp, Reint; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the …
Persistent link: https://www.econbiz.de/10003941710
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You can't make an omelette without breaking eggs : the impact of venture capitalists on executive turnover
Heger, Diana (contributor); Tykvová, Tereza (contributor) - 2007
We present evidence on venture capitalists' (VCs) impact on turnover of executives for a sample of nearly 47,000 German high-tech start-ups between 1995 and 2004. We confirm that the presence of VCs increases the probability of a change in the initial executive team. Additionally, we take a...
Persistent link: https://www.econbiz.de/10003412056
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Managerial ownership and firm performance in German small and medium-sized enterprises
Müller, Elisabeth; Spitz-Oener, Alexandra - 2001
Persistent link: https://www.econbiz.de/10001651224
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How important is industry-specific managerial experience for innovative firm performance?
Balsmeier, Benjamin; Czarnitzki, Dirk - 2014
This study examines how industry-specific managerial experience affects firms’ innovation performance in the context of different institutional environments. Based on firm-level data from 27 Central and Eastern European countries we identify a robust positive relationship between...
Persistent link: https://www.econbiz.de/10010238366
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Women on the board and executive duration : evidence for European listed firms
Buchwald, Achim; Hottenrott, Hanna - 2015
The participation of women in top-level corporate boards (or rather the lack of it) is subject to intense public debate. Several countries are considering legally binding quotas to increase the share of women on boards. Indeed, research on board diversity suggests positive effects of gender...
Persistent link: https://www.econbiz.de/10010491772
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Managerial ownership, entrenchment and innovation
Beyer, Mila; Czarnitzki, Dirk; Kraft, Kornelius - 2011
Principle-agent theory suggests managers might under-invest into R&D for reasons of risk tied to project failure, such … as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … higher remuneration, power and prestige. Using a sample of 1,406 Belgian firms, we find, first, that managers holding no …
Persistent link: https://www.econbiz.de/10008938024
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Corporate monitoring by blockholders in Europe : empirical evidence of managerial disciplining in Belgium, France, Germany, and the UK
Dherment-Ferere, Isabelle; Köke, F. Jens; Renneboog, Luc - 2001
This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...
Persistent link: https://www.econbiz.de/10011446114
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New evidence on ownership structures in Germany
Köke, F. Jens - 1999
Ownership structures are an important element of the theory explaining corporate governance. This study presents detailed descriptive evidence on the ownership structures of German manufacturing firms. It addresses several shortcomings of the previous German empirical literature: First, we study...
Persistent link: https://www.econbiz.de/10011443468
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Product market competition, corporate governance and firm performance : an empirical analysis for Germany
Januszewski, Silke I.; Köke, F. Jens; Winter, Joachim - 1999
Productivity growth has been slow in many continental European countries over the last few decades, especially in comparison with the United States. It has been argued that lack of product market competition and poor corporate governance are two of the main reasons for this phenomenon. However,...
Persistent link: https://www.econbiz.de/10011443499