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Corporate Governance und Unternehmenserfolg : eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutsche...
Steinbrecher, Johannes - 2016
researchers and regulators. Since poor bank governance is seen as a major cause of the recent crisis, a deeper understanding is … needed how banks are governed and how bank governance is associated with performance and risk taking. This report deals with … non-executive bank employees provided by an international consulting company. The results indicate that both aspects of …
Persistent link: https://www.econbiz.de/10011742813
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Corporate Governance und Unternehmenserfolg - Eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutsche...
Steinbrecher, Johannes - 2016
Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...
Persistent link: https://www.econbiz.de/10011698354
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Trust : The Unwritten Contract In Corporate Governance
Larcker, David F. - 2014
Corporate governance systems exist to discourage self-interested behavior. One question that is often overlooked is how extensive these systems should be. A look at corporate governance today suggests that self-interest is high because companies are compelled - by regulators and the market - to...
Persistent link: https://www.econbiz.de/10013063335
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Corporate Governance and Managerial Compensation Horizon under Common Ownership
Tang, Tian - 2021
This paper studies the impact of corporate governance mechanisms on managerial compensation horizon under common ownership. We find that the predominant governance approach under common ownership is the threat of exit, which inadvertently exacerbates managerial myopia. Hence, common owners tend...
Persistent link: https://www.econbiz.de/10013216166
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Managerial Remuneration and Disciplining in the UK : A Tale of Two Governance Regimes
Renneboog, Luc - 2010
We simultaneously analyze two mechanisms of the managerial labor market (CEO turnover and remuneration schemes) in two different regulatory regimes, namely before and after the sweeping governance reforms adopted in the UK in the 1990s. We employ sample selection models to examine firms in a...
Persistent link: https://www.econbiz.de/10013135217
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Relative Performance Benchmarks : Do Boards Follow the Informativeness Principle?
Ma, Paul - 2018
We examine whether and to what extent managers are evaluated, in their relative performance contracts, on the basis of systematic performance. Focusing on relative total shareholder returns (rTSR), the predominant metric specified in these contracts and used by market participants to evaluate...
Persistent link: https://www.econbiz.de/10012935895
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Board Independence and the Design of Executive Compensation
Singh, Ravi - 2007
Executive compensation serves as a metric by which investors measure the quality of a firm's governance. In this paper, I explore how the signaling role of executive compensation impacts the compensation decisions of boards. I show that reputational concerns often cause boards to adopt pay...
Persistent link: https://www.econbiz.de/10012732156
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Board Co-Option and Default Risk
Baghdadi, Ghasan - 2020
We find that co-opted boards facilitate more erratic and arbitrary decision-making, contributing towards default risk. A one standard deviation increase in co-option increases default risk by 11% relative to normal levels. Supporting the notion that co-option makes decision-making more erratic,...
Persistent link: https://www.econbiz.de/10012848864
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Independent Director Reputation Incentives : The Supply of Monitoring Services
Masulis, Ronald W. - 2017
Extensive research finds that shareholder and CEO preferences affect demand for director services. We find a large body of evidence that independent director reputation incentives influence the supply of director services. These reputation incentives vary across firms and over time,...
Persistent link: https://www.econbiz.de/10012974592
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Outside Director Tenure Length : Expertise-Enhancement versus Entrenchment
Kim, Minjae; Kim, Sojung; Kim, Woochan - 2023
This study examines the effect of outside director tenure length on firms’ market valuation and the voting behavior of outside directors. We make use of the new rule adopted by the Korean government in 2020 that prohibits outside directors from serving more than six (nine) years in a given...
Persistent link: https://www.econbiz.de/10014257617