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Does say on pay matter? : evidence from the German natural experiment
Troeger, Tobias H.; Walz, Uwe - 2016
We analyze a hand-collected dataset of 1669 executive compensation packages at 34 firms included in the main German stock market index (DAX) for the years 2006- 2014 in order to investigate the impact of the 2009 say on pay legislation. First, we observe that the compensation packages of...
Persistent link: https://www.econbiz.de/10011539853
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Does say on pay matter? : evidence from Germany
Tröger, Tobias; Walz, Uwe - 2019
We analyze a hand-collected dataset of 1682 executive compensation packages at 34 firms included in the main German stock market index (DAX) for the years 2009-2017 in order to investigate the impact of the 2009 say on pay legislation. The findings provide important insights beyond the German...
Persistent link: https://www.econbiz.de/10012061896
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Setting a Fox to Keep the Geese: Does the comply-or-explain principle work?
Andres, Christian; Theissen, Erik - 2008
The German Corporate Governance Code works according to the comply-or-explain principle. One of its recommendations was to publish the remuneration of the members of the executive board on an individual basis. We examine the characteristics of the firms that comply with the code requirement. Our...
Persistent link: https://www.econbiz.de/10010302533
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Non-mandatory say on pay votes and AGM participation : evidence from Germany
Powell, Daniel; Rapp, Marc Steffen - 2015 - Preliminary Version as of 1 June 2015
Since August 2009, German legislation allows for voluntary Say on Pay Votes (SoPV) during Annual General Meetings (AGMs). We examine 1,169 AGMs of all German listed firms with more than 10,000 agenda items over the period 2010-2013 to identify (1) determinants and approval rates of voluntary...
Persistent link: https://www.econbiz.de/10010530578
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Bubbles and incentives : a post-mortem of the Neuer Markt in Germany
Kalckreuth, Ulf von; Silbermann, Leonid - 2010
quantile regressions. Our results indicate that valuation has strong and systematic effects on incentives. Experience, as …
Persistent link: https://www.econbiz.de/10008653397
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Aktienbasierte Langfristanreize im Rahmen der Vorstandsverguetung: Evidenz auf Basis Deutscher Prime Standard Unternehmen
Rapp, Marc Steffen; Schaller, Philipp; Wolff, Michael - 2009
While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were … incentives. In the meantime the legal environment has changed significantly and today even the German Corporate Governance Code … encourages firms to grant stock-based long-term incentives. However, examining a hand-collected unique data-set we find that even …
Persistent link: https://www.econbiz.de/10010305700
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An information economics perspective on main bank relationships and firm R&D
Hoewer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10010306607
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An information economics perspective on main bank relationships and firm R&D
Hoewer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10010306611
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An information economics perspective on main bank relationships and firm R&D
Höwer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10009270085
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An information economics perspective on main bank relationships and firm R&D
Höwer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10009270093