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Colonnello, Stefano; Curatola, Giuliano Antonio; Xia, Shuo - 2022

Equity pay has been the primary component of managerial compensation packages at US public firms since the early 1990s. Using a comprehensive sample of top executives from 1992-2020, we estimate to what extent they trade firm equity held in their portfolios to neutralize increments in ownership...

Persistent link: https://www.econbiz.de/10013412974

Insider Trading, Option Exercises and Private Benefits of Control

Cziraki, Peter; de Goeij, Peter; Renneboog, Luc - 2010

We investigate patterns of abnormal stock performance around insider trades and option exercises on the Dutch market. Listed firms in the Netherlands have a long tradition of employing many anti-shareholder mechanisms limiting shareholders rights. Our results imply that insider transactions are...

Persistent link: https://www.econbiz.de/10010494422

Corporate Governance und Unternehmenserfolg - Eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutscher Banken

Steinbrecher, Johannes - 2016

Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...

Persistent link: https://www.econbiz.de/10011698354

Say Pays! Shareholder Voice and Firm Performance

Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria - 2014

This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder-sponsored SoP proposals. Adopting SoP leads to large increases...

Persistent link: https://www.econbiz.de/10010435238

Theoretical explanation approaches for the declarations of conformity regarding severance payments for members of the management board

Schottmüller-Einwag, Ute - 2017

regarding severance payments for members of the management board of over 20 % from the recommendation section 4.2.3 para 4 of … models recommendations are derived how to change the arrangement of the severance caps for members of the management board. …

Persistent link: https://www.econbiz.de/10011695136

Abfindungen für Vorstandsmitglieder: Empirische Untersuchung der Entsprechenserklärungen von CDAX-Unternehmen

Schottmüller-Einwag, Ute - 2016

Diese Studie untersucht die Akzeptanz der Empfehlung 4.2.3 Abs. 4 S. 1 Deutscher Corporate Governance Kodex zwischen 2010 und 2014 bei allen CDAX-Unternehmen. Dazu wurden die Entsprechenserklärungen ausgewertet, Entsprechens- und Abweichungsquoten bestimmt, Abweichungsgründe ermittelt und...

Persistent link: https://www.econbiz.de/10011506285

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

Fabbri, Francesca; Marin, Dalia - 2012

contributed to the rise in executive pay in Germany. Lastly, we show that CEOs in the banking sector are provided with incentives …The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypothesis in …

Persistent link: https://www.econbiz.de/10010281035

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

Fabbri, Francesca; Marin, Dalia - 2012

Persistent link: https://www.econbiz.de/10010282632

Managerial control inside the firm

Hirota, Shinichi; Kawamura, Kohei - 2005

This paper proposes an implicit control mechanism of managers inside the firm. We argue that the need to motivate workers may make it beneficial for a self-interested, short-sighted manager to pursue long-run viability of the firm. When the firm is in a stable environment, this implicit control...

Persistent link: https://www.econbiz.de/10010332257

Endogenous governance transparency and product market competition

Hidalgo-Cabrillana, Ana - In: SERIEs - Journal of the Spanish Economic Association 4 (2013) 1, pp. 113-136

This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...

Persistent link: https://www.econbiz.de/10010317073