interest in increasing incentive-based compensation to avoid management's excessive risk taking and short-run oriented … decisions. We compile unique panel data on executive compensation over the periods 2006 to 2011 for 405 listed companies and use … a Hausman-Taylor approach to estimate the effect of codetermination on the compensation design. Finally, codetermination …

examining the CEO compensation of U.S. public companies that were ever in financial distress between 1992 and 2005. Using a bias …-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically …-corrected matching estimator that estimates the causal effects of financial distress, we find that, for the distressed firms, CEO …

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 … compensation, Australian top incomes, and (for the past two decades) average trends in executive compensation in top Australian …

estimation methods in this investigation. We uncover a causal relationship between two of five measures of health and the wage in …

Using data on executive compensation for the German chemical industry, we investigate the relevance of two theoretical …

relationship between private benefits of control and CEO ownership with a minimum at about 4% CEO ownership, a positive association … between CEO tenure and private benefits, and a quadratic in CEO age with a dip in private benefits at about 52 years of age …

work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in …The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

We construct and estimate by maximum likelihood an equilibrium search model where wages are set by Nash bargaining and … wages and job spells. We find that the rate of learning-by-doing has an important positive effect on aggregate output and a … to estimate the rate of learning-by-doing. Although the range of the observations is not independent of the parameters …

function can be explained by Nash bargaining between workers and employers. Under fairly mild assumptions, Nash bargaining … exceed the wage reward. This paper reviews the established empirical regularities and then provides Nash bargaining results …