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bonuses under a Management-by-Objectives (MBO) incentive scheme. Six years of personnel data of 177 managers in a German …
Persistent link: https://www.econbiz.de/10010294492
bonuses under a Management-by-Objectives (MBO) incentive scheme. Six years of personnel data of 177 managers in a German …
Persistent link: https://www.econbiz.de/10010291414
compensation incentives are linked to risk-taking behaviors. Subsequently, the compensation structure of non-CEO executives is … empirically investigates to which extent CEO's incentives - specifically equity and risk-taking incentives - model the trade … how executive incentives translate into actions and strategies. …
Persistent link: https://www.econbiz.de/10014322667
Incentive effects of performance-based compensation schemes for management may be weakened or biased by macroeconomic influences on remuneration. These influences can be seen as reflecting luck from the CEO's perspective. In this chapter we present a model for how to avoid compensating CEO for...
Persistent link: https://www.econbiz.de/10010320333
We conduct a field experiment where we vary both the presence of a gift exchange wage and the effect of the worker's effort on the manager's payoff. The results indicate a strong complementarity between the initial wage gift and the agent's ability to repay the gift. We collect information on...
Persistent link: https://www.econbiz.de/10010280811
A key input to inventive activity is human capital. Hence it is important to understand the monetary incentives of …
Persistent link: https://www.econbiz.de/10010333876
This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly … significantly related to higher working effort but not to risk taking. They also seem to induce fund managers to rely more on … fundamental information. Findings within regions are confirmed by Trans-Atlantic evidence as US fund managers receive larger …
Persistent link: https://www.econbiz.de/10010275801
In the UK, the top executive remuneration policy is not geared towards the creation of value but compensation revisions are rather driven by changes in corporate size, measured by sales growth. This suggests that managing larger firms requires special managerial skills. Even in UK companies with...
Persistent link: https://www.econbiz.de/10010377541
A substantial number of empirical studies on the linear relationship between executive compensation and firm performance for European firms suggest that the pay-performance sensitivity is not significantly positive. We argue that a nonlinear structure fits the data better, because compensation...
Persistent link: https://www.econbiz.de/10010281498
talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort … distorts incentives downward in order to extract rents. More generally, as declining market frictions lead employers to compete …, while inequality tends to rise monotonically. Bonus caps and income taxes can help restore balance in agents' incentives and …
Persistent link: https://www.econbiz.de/10010293214