Hintergrund der Untersuchung ist die zunehmende Bedeutung von Humankapital als wettbewerbsentscheidendem Produktionsfaktor in modernen humankapitalintensiven Unternehmungen. Es stellt sich die Frage nach den Auswirkungen der Bedeutungszunahme und der Regelung des „Primärhumankapitals“, also...

Executive pay research has traditionally focused on salary, severance payments and longtermincentives. A systematic rigorous empirical examination of short-term annualbonuses is lacking. To address this omission, this research empirically examines therelationship between short-term bonuses and...

This study is motivated by one of the most prevalent properties of modern corporations: separation of ownership and control. Ownership concentration has been one of the corporate governance mechanisms to solve the agency problem between shareholders and management. Existing literature is mainly...

We examine the impact of board size on firm performance for a large sample of 2746 UK listed firms over 1981-2002. The UK provides an interesting institutional setting, because UK boards play a weak monitoring role and therefore any negative effect of large board size is likely to reflect the...