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What explains the rise in CEO pay in Germany? : a panel data analysis for 1977 - 2009

Fabbri, Francesca; Marin, Dalia - 2012

work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

Persistent link: https://www.econbiz.de/10009533980

Executives' short-term and long-term incentives - a distributional analysis

Haylock, Michael Robert - 2020

Executives are often paid for short-term changes in shareholder wealth, but rational shareholders want executives to maximize long-term shareholder wealth. Incentives for short-term and long-term oriented behavior may depend on an executive's level of pay in the distribution, holding other...

Persistent link: https://www.econbiz.de/10012179255

Learning about the Details in CEO Compensation

Hu, Shuting (Sophia) - 2018

I document the richness of CEO compensation packages and show that boards learn about the desirability of the many complex package features through observing how these features are associated with firm performance. I first capture the detailed features of plan-based awards for CEOs of the...

Persistent link: https://www.econbiz.de/10012932128

A Newsvendor Contest (Guidelines for a CEO)

Pavlov, Valery - 2018

This study investigates the Newsvendor Contest: two newsvendors not only earn profits but also compete for a fixed bonus awarded to one of them whose realized profit is higher than that of the other contender. We analyze both the simultaneous-move game, which is relevant to such business...

Persistent link: https://www.econbiz.de/10012932176

Career Concerns and 'Unpaid' Executives

Chen, Hui - 2018

A significant portion of CEOs in publicly-listed Chinese state-owned enterprises receive zero pay from the companies for which they work. Instead, they are paid directly by their controlling shareholder who can be the Chinese government or parent firms controlled by the Chinese government. While...

Persistent link: https://www.econbiz.de/10012935738

Executive Compensation : The Teachings of Game Theory

de Mesnard, Louis - 2018

to maximin; senior managers may not accept to bargain. Relative proportional compensation allows senior managers and … middle-grade managers to obtain equal gains in percentage; senior manager compensation is not intolerably high to the price …

Persistent link: https://www.econbiz.de/10012937381

Firm Performance Implications of Using Qualitative Criteria in CEO Bonus Contracts

Feng, Nancy Chun - 2020

Many argue that the design of compensation contracts for public company chief executive officers (CEOs) is often not guided by a goal of value maximization. Yet, there is limited direct empirical evidence on the negative consequences of the proposed inefficient contracting between shareholders...

Persistent link: https://www.econbiz.de/10012853379

The Retention Effects of Unvested Equity : Evidence from Accelerated Option Vesting

Jochem, Torsten - 2018

We document that firms can effectively retain executives by granting deferred equity pay. We show this by analyzing a unique regulatory change (FAS 123-R) that prompted 723 firms to suddenly eliminate stock option vesting periods. This allowed CEOs to keep 33% more options when departing the...

Persistent link: https://www.econbiz.de/10012937264

The Effects of Vertical Pay Dispersion : Experimental Evidence in a Budget Setting

Guo, Lan - 2017

Vertical pay dispersion is the difference in pay across different hierarchical levels within an organization (Milkovich and Newman 1996). While vertical pay dispersion may be useful in attracting, retaining and motivating highly skilled employees (Lazear and Rosen 1981; Lazear 1995; Prendergast 1999),...

Persistent link: https://www.econbiz.de/10012973631

Management Compensation and the Economic Crisis : Longitudinal Evidence from the German Chemical Sector

Grund, Christian - 2013

extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards … perspective. We also examine that certain parts of managers seem to have more power to influence their compensation than others …. Inequality in managers' compensation decreased during the crisis …

Persistent link: https://www.econbiz.de/10013080144