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Determinants of director compensation in two-tier systems: evidence from German panel data
Andreas, Jörn Michael; Rapp, Marc Steffen; Wolff, Michael - Fakultät für Wirtschaftswissenschaften, Technische … - 2010
Building on a unique panel data set of German Prime Standard companies for the period 2005-2008, this paper investigates the influencing factors of both director compensation levels and structure, i.e. the probability of performance-based compensation. Drawing on agency theory arguments and...
Persistent link: https://www.econbiz.de/10009219910
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The Managerial Labor Market and the Governance Role of Shareholder Control Structures in the UK
Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2002
We simultaneously analyze two mechanisms of the managerial labor market: CEO turnover and monetary remuneration schemes.Sample selection models and hazard analyses applied to a random sample of 250 firms listed on the London Stock Exchange over a six-year pre-Cadbury period show that managerial...
Persistent link: https://www.econbiz.de/10011092291
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The managerial labor market and the governance role of shareholder control structures in the UK
Renneboog, Luc; Trojanowski, G. - Tilburg University, Tilburg Law and Economic Center - 2003
Persistent link: https://www.econbiz.de/10011093260
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CEO control, corporate performance and pay-performance sensitivity
Amzaleg, Yaron; Azar, Ofer H.; Ben-Zion, Uri; … - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 166-174
Agency theory suggests that high pay-performance sensitivity (PPS) of CEO's compensation is an important motivation mechanism to the CEO to improve corporate performance. We develop a simple model that suggests that reverse causality should also be considered. Specifically, our model predicts...
Persistent link: https://www.econbiz.de/10010930943
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Managerial Incentives and Stock Price Manipulation
Peng, Lin; Röell, Ailsa A - C.E.P.R. Discussion Papers - 2009
This paper presents a rational expectations model of optimal executive compensation in a setting where managers are in a position to manipulate short-term stock prices, and managers' propensity to manipulate is uncertain. Stock-based incentives elicit not only productive effort, but also costly...
Persistent link: https://www.econbiz.de/10005014567
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Integration, Regulation, and Corporate Governance in the EU Banking Sector
Köhler, Matthias - Deutsche Zentralbibliothek für …
Persistent link: https://www.econbiz.de/10008752660
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Legal protection of investors, corporate governance, and investable premia in emerging markets
Kinsella, Stephen; O'Connor, Thomas; O'Sullivan, Vincent - Geary Institute, University College Dublin - 2011
We examine the interaction between the legal protection of investors, corporate governance within firms, institutional development between countries, and investable premia in emerging markets. In a multi country setting and using a novel dataset we find that better-governed firms experience...
Persistent link: https://www.econbiz.de/10009249165
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New Paradigms in Banking, Financial Markets and Regulation?
Ayadi, Rym; masciandaro, donato; Quintyn, Marc G.; … - SUERF - The European Money and Finance Forum
incentives, risk management models and procedures, conflicts of interest and bank strategies. Their perspectives are quite …
Persistent link: https://www.econbiz.de/10011070913
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Corporate Governance and Bank Performance: Evidence from Macedonia
Fidanoski, Filip; Mateska, Vesna; Simeonovski, Kiril - Volkswirtschaftliche Fakultät, … - 2013
The role of banks is integral to the economic development of any country. Given the renewed attention on the corporate governance in banks with the global financial crises, this paper investigates the relevance of board size, board composition and CEO qualities in the banks and their...
Persistent link: https://www.econbiz.de/10011107627
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Bank owners or bank managers: who is keen on risk? Evidence from the financial crisis
Gropp, Reint; Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the … manager-controlled banks. The results are robust to controlling for a wide variety of bank specific, country specific …, regulatory and legal variables. Regulation does not seem to mitigate risk taking by bank owners. We find no evidence that profit …
Persistent link: https://www.econbiz.de/10008518270