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In the empirical estimation of the relation between CEO pay and both firm and peer performance, researchers typically … include conventional accounting-based measures that reflect firm performance net of executive pay expense. We analytically … show that when firms evaluate CEO performance relative to peers, the coefficients on such net accounting measures are …
Persistent link: https://www.econbiz.de/10013218451
can use compensation awards that increase managerial performance incentives (delta) and risk-taking incentives (vega) in …
Persistent link: https://www.econbiz.de/10012932017
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
needed how banks are governed and how bank governance is associated with performance and risk taking. This report deals with … corporate governance matter. Higher executive team expertise is associated with superior bank outcomes regarding performance …
Persistent link: https://www.econbiz.de/10011742813
We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi- year compensation plans, which generate...
Persistent link: https://www.econbiz.de/10012974660
We show that long-term compensation is associated with higher pay in the financial industry and this association is stronger in markets with high competition for talent. We argue that this evidence supports models of competition for talent based on retention motives
Persistent link: https://www.econbiz.de/10013030981
There are methods to match value added approaches (Residual Income Method, RIM and Economic Value Added, EVA) with discounted cash flow methods, DCF. In this note we use a real life case from an emerging country to illustrate the matching, with complexities such as unpaid taxes, losses carried...
Persistent link: https://www.econbiz.de/10013140033
This paper analyses the performance consequences of board structure changes in Ghana for the study period 2000 to 2009 … firm performance. The results show that duality decreases firm performance pre-2003, but those firms that separate the two …-2003. While we find no relationship between board committees and firm performance pre-2003, the relationship switched to …
Persistent link: https://www.econbiz.de/10012854747
Persistent link: https://www.econbiz.de/10011576971