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The relationship between CEO pay and performance has been much analyzed in the management and economics literature. This study analyzes the structure of executive compensation in family and non-family firms. In line with predictions of agency theory, it is found that the share of base salary is...
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The present paper uses a comparison of Japan and the US to argue that the debate about corporate governance reform is best framed in terms of systems of complementary instruments and institutions. It argues that the Japanese and US systems of corporate governance differ along many dimensions,...
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Diese Dissertation beschäftigt sich mit der Beziehung zwischen Gerechtigkeit und Governance in Familienunternehmen. Sie … zeigt, wie sich die gegenwärtige Governance Struktur von Familienunternehmen auf die Wahl des Gerechtigkeitsprinzips in der … Unternehmensnachfolge auswirkt und dass diese Wahl ihrerseits die künftige Governance Struktur von Familienunternehmen beeinflusst …
Persistent link: https://www.econbiz.de/10011907968
Merger and acquisition (M&A) activity is motivated by increasing shareholder value through improved corporate governance. Therefore, stronger corporate governance can reduce the returns from M&A activity, including M&A foreign direct investment (FDI). This, in turn, can reduce the returns from...
Persistent link: https://www.econbiz.de/10003984736
We examine which independent directors are held accountable when investors sue firms for financial and disclosure related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over the directors'...
Persistent link: https://www.econbiz.de/10009772336
In family firms, the succession of controlling equity stake to next generation is an issue of paramount importance. This, however, can be a major challenge in the presence of heavy inheritance or gift tax burden (high tax rate and absence of tax-saving vehicles, such as trusts or foundations)...
Persistent link: https://www.econbiz.de/10010355189
The shareholders of public corporations have considerable interest in the choice of individual to serve as CEO of their company. They want to be assured that the company has a viable plan in place to replace the current CEO if necessary. Historically, boards have deferred to outgoing CEO,...
Persistent link: https://www.econbiz.de/10011524573