We propose a novel measure for workers' financial incentives based on withinestablishment wage differences among similar workers from the same occupation. This measure captures all forms of incentive pay that lead to workeremployer-specific pay premiums, including explicit (e.g., bonuses) and...

We propose a novel measure for workers' financial incentives based on within-establishment wage differences among similar workers from the same occupation. This measure captures all forms of incentive pay that lead to worker-employer-specific pay premiums, including explicit (e.g., bonuses) and...

This paper uses legal board size requirements to test whether board size affects firm performance and value. Since 1976, the minimum size of German firms’ supervisory boards increases from 12 to 16 directors at 10,000 domestic employees, resulting in a sharp increase in board sizes. Regression...

In January 2010 the Deutsche Börse Group introduced two family firm stock indices. Both indices are calculatedas price and performance indices and extend the number of investment strategy indices of Deutsche BörseGroup. The DAXplus Family is an all-share index whereas the DAXplus Family 30...

In this paper we introduce a framework to analyze the key drivers of value creation of private equity in financial institutions and the bank holding sub-segment. We estimate the influence of market-timing, take specifications of this highly regulated industry into account, and approximate the...