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Dieser Beitrag untersucht die Entwicklung der Akzeptanz der Empfehlung G.13 Satz 1 des Deutschen Corporate Governance Kodex (in der Fassung vom 16. Dezember 2019, vormals 4.2.3 Abs. 4 Satz 1), die für vorzeitige Vertragsbeendigungen von Vorstandsmitgliedern Abfindungsobergrenzen vorsieht. Die...
Persistent link: https://www.econbiz.de/10012585212
Incentives for managers are often provided by offering them performance-based compensation schemes. The efficiency of such monetary compensations, however, depends on several factors, among them the quality of the employed performance measures, the information available for contracting purposes,...
Persistent link: https://www.econbiz.de/10011527797
We study optimal incentive contracts for workers who are reciprocal to management attention. When neither worker's effort nor manager's attention can be contracted, a double moral-hazard problem arises, implying that reciprocal workers should be given weak financial incentives. In a...
Persistent link: https://www.econbiz.de/10011600821
This paper studies how social relationships between managers and employees affect relational incentive contracts. To this end we develop a simple dynamic principal-agent model where both players may have feelings of altruism or spite toward each other. The contract may contain two types of...
Persistent link: https://www.econbiz.de/10010282065
We use experiments to test comparative statics predictions of canonical tournament theory. Both the roles of principal and agent are populated by human subjects, allowing us to test predictions for both incentive responses and optimal tournament design. Consistent with theory, we observed an...
Persistent link: https://www.econbiz.de/10010282234
Using a formal principal-agent model, I investigate the relation between monetary gift-exchange and incentive pay, while allowing for worker heterogeneity. I assume that some agents care more for their principal when they are convinced that the principal cares for them. Principals can signal...
Persistent link: https://www.econbiz.de/10011257176
In this paper are presented essential themes in the subject of personnel economics. In the first part analysis has been conducted on the impact of peer pressure on workplace behaviour. Then again models for compensation structures within firms, and their influence on the utility of work by...
Persistent link: https://www.econbiz.de/10011258378
The purpose of this paper is to ascertain how wages are being determined in China during the reform period. The paper focuses on the development of the regulatory framework since 1978 and proceeds by examining official regulations regarding labor market institutions and wage setting, and by...
Persistent link: https://www.econbiz.de/10010818583
Our study analyzes the consequences of workers' participation in the wage setting process on effort exertion. The experimental design is based on a modified giftexchange game where the degree of workers’ involvement in the wage setting process is systematically varied among the workers. The...
Persistent link: https://www.econbiz.de/10010775967
Subjective performance evaluation serves as a double-edged sword. While it can mitigate multitasking agency problems, it also opens the door to evaluators' biases, resulting in lower job satisfaction and a higher rate of worker quits. Using the personnel records of individual sales...
Persistent link: https://www.econbiz.de/10010891643