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Fiscal treatment of managerial compensation : a welfare analysis ; conference paper
Hilmer, Michael - 2013
We analyze the consequences of bonus taxes, limited deductibility of bonuses from company pro ts and a corporate income tax (CIT) in a principal-agent model and explore how these tax instruments affect managerial incentives and how they change the design of incentive contracts used in...
Persistent link: https://www.econbiz.de/10010344626
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Too many to fail : how bonus taxation prevents gambling for bailouts ; conference paper
Hilmer, Michael - 2014
Using a simple symmetric principal-agent model of two banks, this paper studies the effects of both bailouts and bonus taxes on risk taking and managerial compensation. In contrast to existing literature, we assume financial institutions to be systemic only on a collective basis, implying...
Persistent link: https://www.econbiz.de/10010489295
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The heterogeneous effects of bonus pay on performance outcomes : evidence from personnel data ; conference paper
Sauermann, Jan - 2014
This study uses rich information on performance outcomes to estimate the effect of bonus pay on worker productivity. We use a policy discontinuity in the call centre of a multi-national telephone company in which management introduced monetary bonuses upon achieving pre-defined performance...
Persistent link: https://www.econbiz.de/10010489250
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Stock Options und Shareholder Value : Dokumentation des 33. Münsteraner Führungsgesprächs vom 9./10. Oktober 1997
Meffert, Heribert (ed.); Backhaus, Klaus (contributor) - Münsteraner Führungsgespräch <33, 1997, Münster (Westf)> - 1998
Persistent link: https://www.econbiz.de/10000656971
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Unternehmenswertorientierte Entlohnungssysteme
Pellens, Bernhard (ed.) - 1998
Persistent link: https://www.econbiz.de/10000667956
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Mitarbeiterbeteiligung in der Krise
Urnik, Sabine (ed.); Pfeil, Walter J. (ed.);  … - 2010
Persistent link: https://www.econbiz.de/10014012162
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How managerial wage transparency may reduce shareholder returns : evidence from an experiment ; conference paper
Bolton, Gary E.; Ockenfels, Axel; Werner, Peter - 2013 - This version: 4 January 2013
We study the role of transparency in a novel three-person profit sharing game in which managers and board directors … hypothesis, but reject the second one: Public transparency actually increases managerial wages as well as board director … compensation, further reducing the revenue share that goes to shareholders. Competition to keep managers further magnifies these …
Persistent link: https://www.econbiz.de/10010342181
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Does globalization create superstars? : a simple theory of managerial wages ; conference paper
Gersbach, Hans; Schmutzler, Armin - 2013 - This version: October 2012
, while the most able managers obtain a wage increase, less able managers are faced with a reduction in wages. Hence our model …
Persistent link: https://www.econbiz.de/10010341147