Der vorliegende Aufsatz untersucht den Einfluss von Aufsichtsratsvernetzungen auf die Entwicklung der Vorstandsbezüge von DAX-Unternehmen. Die kombinierte Anwendung von Methoden der sozialen Netzwerkanalyse und der Panelökonometrie erleichtert die Erfassung der Struktur der...

In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...

The Eroding Trust in Capitalism and its Consequences for Law: On both sides of the Atlantic, legislators consider a cap on manager income. As a redistributive intervention, the cap would be misplaced. It affects such a small number of persons that the effect on the Gini coefficient would be...

Outside the US, little is known of long-run trends in executive compensation. We fill this gap by studying BHP, a resources giant that has long been one of the largest companies on the Australian stock market. From 1887 to 2013, trends in CEO and director remuneration (relative to average...

We observe that CEO compensation and top incomes in the US have both been increasing rapidly over the last thirty years. We hypothesize that the trends in CEO compensation have been caused by the same economy-wide factors that have contributed to increases in income. We test this hypothesis by...