contributed to the rise in executive pay in Germany. Lastly, we show that CEOs in the banking sector are provided with incentives …

few performance-based incentives. We explore how these parent-paid executives are motivated and whether the outcomes of … of the market mechanisms that potentially replaced promotion incentives in executive compensation contracts. Our evidence … is generally consistent with a reduction in the strength of promotion incentives following the reform. Further analyses …

into the effects and limitations of additional government monitoring of executive compensation …

CEO selection and to further investigate the use of implicit incentives, we conduct an event study using the Split Share … incentive mechanism. This mechanism provides a potential replacement for promotion incentives. Our evidence is generally … consistent with a reduction in the strength of promotion incentives following the reform …

institutional investors who have stronger incentives for monitoring. This study contributes to the literature by examining the … availability of CDSs allows lenders to transfer credit risk, but not control or monitoring rights, to CDS sellers. Hence, CDS …-protected lenders' incentives to monitor borrowing firms are curtailed, which could exacerbate the managerial agency problem. To …