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The exogenous shock of the financial crisis made shareholders and regulators particularly attuned to financial firm performance. We thus use the financial crisis as a natural experiment to study labor market consequences for outside directors at banks and other financial companies. Examining...
Persistent link: https://www.econbiz.de/10013036080
This paper investigates the impact of the Covid-19 pandemic on the compensation of top managers and business … whether the Covid-19 pandemic caused a decrease in the total compensation of top managers and some of their parts (basic … managers in the observed companies during 2020 and 2021compared to 2019, as well as that there was an increase in the share of …
Persistent link: https://www.econbiz.de/10014490348
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/10013094621
Mehr Flexibilität im Arbeitsmarkt hat kürzere und flüchtigere Beziehungen zwischen Arbeitgeber und Arbeitnehmer zur … Netherlands, we show that firms have higher shares of managers in their personnel if they employ more flexible workers. This fits … bureaucracies than "Rhineland" countries with more regulated labour markets. We also find that percentages of managers in younger …
Persistent link: https://www.econbiz.de/10011404172
We study the impact of government-led incentive systems by examining a staggered reform in the Chinese state-owned enterprise (SOE) performance evaluation policy. To improve capital allocative efficiency, in 2010, regulators switched from using return on equity (ROE) to economic value added...
Persistent link: https://www.econbiz.de/10013298646
We investigate the impact of workers' exposure to unemployment risk on CEO incentive compensation. Exploiting state-level changes in unemployment benefits as a source of variation in workers' unemployment costs, we find that after unemployment insurance benefits become more generous boards...
Persistent link: https://www.econbiz.de/10012971766
We study the effects of corruption on firm efficiency using a unique dataset of private firms from 14 Central and Eastern European countries from 2000 to 2013. We find that an environment characterized by a high level of corruption has an adverse effect on firm efficiency. This effect is...
Persistent link: https://www.econbiz.de/10012950337
About 37% of Chinese listed firms have medical expertise, as measured by the existence of senior executives with a medical degree or medical-industry experience. Using the COVID-19 outbreak in China as a natural experiment, we find that stock returns of firms with medical expertise, excluding...
Persistent link: https://www.econbiz.de/10013214370
-asset investments as well as capital expendituers. To deal with this uncertainty, managers can adjust cash holdings based on their … investors to predict future cashholding and future investments. That is, managers with positive sentiment will accumulate cash … to be ready enter investment opportunties while managers with negative sentiment and belief about future investments will …
Persistent link: https://www.econbiz.de/10013291427
Persistent link: https://www.econbiz.de/10011459572