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Determinants and Consequences of Executive Compensation
Fabrizi, Michele - 2021
Incentive compensation is a central concern in the relationship between the Chief Executive Officer (CEO) and the board of directors and between the CEO and shareholders. This book presents a focus on four key themes that are salient to the current debate on the consequences and determinants of...
Persistent link: https://www.econbiz.de/10014322667
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How to Avoid Compensating CEO for Luck: The Case of Microeconomic Fluctuations
Oxelheim, Lars; Wihlborg, Clas; Zhang, Jianhua - 2010
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
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Verringern Management-Entlohnungskosten die Agency-Kosten? Empirische Evidenz von netzwerkorientierten und marktorientierten Unternehmenskontrollsystemen
Crespi-Cladera, Rafel; Gispert, Carles; Renneboog, Luc - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 2, pp. 234-246
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
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Executive compensation regulation and the dynamics of the pay-performance sensitivity
Sabiwalsky, Ralf - 2010
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
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How much sunlight does it take to disinfect a boardroom?: a short history of executive compensation regulation
Dew-Becker, Ian - 2008
This paper reviews the history of executive compensation disclosure and other government policies affecting CEO pay, and as well surveys the literature on the effects of these policies. Disclosure has increased nearly uniformly since 1933. A number of other regulations, including special taxes...
Persistent link: https://www.econbiz.de/10010264423
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What explains the rise in CEO pay in Germany? A panel data analysis for 1977-2009
Fabbri, Francesca; Marin, Dalia - 2012
work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …
Persistent link: https://www.econbiz.de/10010281035
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What explains the rise in CEO pay in Germany? A panel data analysis for 1977 - 2009
Fabbri, Francesca; Marin, Dalia - 2012
work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …
Persistent link: https://www.econbiz.de/10010282632
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Tax overpayments, tax evasion, and book-tax differences
Goerke, Laszlo - 2008
A strictly risk-averse manager makes joint decisions on a firm's tax payments and book profit declarations according to … making untruthful profit declarations, and (4) the tax rate. If the firm's owner or the government takes into account these … effects when pursuing his own objectives, the changes in tax payments and book profit declarations become theoretically more …
Persistent link: https://www.econbiz.de/10010264300
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Executive compensation and the susceptibility of firms to hostile takeovers. An empirical investigation of the U.S. oil industry
Nowak, Eric; Haid, Michael H. - 1999
We investigate the suggested substitutive relation between executive compensation and the disciplinary threat of takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and corporate control mechanisms in three distinct ways. First,...
Persistent link: https://www.econbiz.de/10010316286
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Executive Compensation and Macroeconomic Fluctuations
Oxelheim, Lars; Wihlborg, Clas; Zhang, Jianhoa - 2008
unable to forecast macroeconomic fluctuations or unable to adjust operations in response to changes in macroeconomic …
Persistent link: https://www.econbiz.de/10010320300