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In the current competitive scenario, the banking industry must contend with multiple challenges tied to regulations, legacy systems, disruptive models/technologies, new competitors, and a restive customer base, while simultaneously pursuing new strategies for sustainable growth. Banking...
Persistent link: https://www.econbiz.de/10014323783
-based long-term incentives account for less that 23% of the overall compensation to members of the management board. Our …
Persistent link: https://www.econbiz.de/10010305700
This paper proposes an implicit control mechanism of managers inside the firm. We argue that the need to motivate workers may make it beneficial for a self-interested, short-sighted manager to pursue long-run viability of the firm. When the firm is in a stable environment, this implicit control...
Persistent link: https://www.econbiz.de/10010332257
value rationality, and to understand that taking into account stakeholders' interests may be extraneous to purpose … rationality and to the corporation's purpose. To indicate this main difference between a corporation as a juristic person of … application of the distinction between value rationality and purpose rationality, to what CSR means for the purpose of the …
Persistent link: https://www.econbiz.de/10014512652
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/10010297660
, the managers were constrained by a variety of rules that tended to align the interests of management, shareholders and …
Persistent link: https://www.econbiz.de/10011396829
insiders on the surplus of the firm is damaging.The transition from the Rhineland model (in which management serves the …
Persistent link: https://www.econbiz.de/10010325305
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010325997
In recent years, a large academic debate has tried to explain the rapid rise in CEO pay experienced over the past three decades. In this article, I review the main proposed theories, which span views of compensation as the result of a competitive labor market for executives to theories based on...
Persistent link: https://www.econbiz.de/10010264485
We argue in favor 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 about the ultimate goal of the company....
Persistent link: https://www.econbiz.de/10010276828