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Corporate governance and pay for performance: evidence from Germany

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  • Jeremy Edwards
  • Wolfgang Eggert
  • Alfons Weichenrieder

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  • Jeremy Edwards & Wolfgang Eggert & Alfons Weichenrieder, 2009. "Corporate governance and pay for performance: evidence from Germany," Economics of Governance, Springer, vol. 10(1), pages 1-26, January.
    • Handle: RePEc:spr:ecogov:v:10:y:2009:i:1:p:1-26
    DOI: 10.1007/s10101-008-0050-y
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    References listed on IDEAS

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    1. Kaplan, Steven N, 1994. "Top Executives, Turnover, and Firm Performance in Germany," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 10(1), pages 142-159, April.
    2. Dan S. Felsenthal & Moshé Machover, 1998. "The Measurement of Voting Power," Books, Edward Elgar Publishing, number 1489.
    3. Sendhil Mullainathan & Marianne Bertrand, 2000. "Agents with and without Principals," American Economic Review, American Economic Association, vol. 90(2), pages 203-208, May.
    4. Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    5. Marianne Bertrand & Sendhil Mullainathan, 2000. "Agents with and without Principals," Working Papers 809, Princeton University, Department of Economics, Industrial Relations Section..
    6. Stijn Claessens & Simeon Djankov & Joseph P. H. Fan & Larry H. P. Lang, 2002. "Disentangling the Incentive and Entrenchment Effects of Large Shareholdings," Journal of Finance, American Finance Association, vol. 57(6), pages 2741-2771, December.
    7. repec:fth:prinin:430 is not listed on IDEAS
    8. Faccio, Mara & Lang, Larry H. P., 2002. "The ultimate ownership of Western European corporations," Journal of Financial Economics, Elsevier, vol. 65(3), pages 365-395, September.
    9. Heitor V. Almeida & Daniel Wolfenzon, 2006. "A Theory of Pyramidal Ownership and Family Business Groups," Journal of Finance, American Finance Association, vol. 61(6), pages 2637-2680, December.
    10. Gary Gorton & Frank A. Schmid, 2004. "Capital, Labor, and The Firm: A Study of German Codetermination," Journal of the European Economic Association, MIT Press, vol. 2(5), pages 863-905, September.
    11. Claessens, Stijn & Djankov, Simeon & Lang, Larry H. P., 2000. "The separation of ownership and control in East Asian Corporations," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 81-112.
    12. Larry H. P. Lang & Mara Faccio & Leslie Young, 2001. "Dividends and Expropriation," American Economic Review, American Economic Association, vol. 91(1), pages 54-78, March.
    13. Marianne Bertrand & Sendhil Mullainathan, 2001. "Are CEOs Rewarded for Luck? The Ones Without Principals Are," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(3), pages 901-932.
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    Cited by:

    1. Dyballa, Katharina & Kraft, Kornelius, 2015. "Does codetermination affect the composition of variable versus fixed parts of executive compensation?," ZEW Discussion Papers 15-053, ZEW - Leibniz Centre for European Economic Research.
    2. Dyballa, Katharina & Kraft, Kornelius, 2016. "How Do Labor Representatives Affect Incentive Orientation of Executive Compensation?," IZA Discussion Papers 10153, Institute of Labor Economics (IZA).
    3. Pinheiro Zebral, Laura, 2017. "The influence of leadership and payment for performance on individual performance," Journal of Applied Leadership and Management, Hochschule Kempten - University of Applied Sciences, Professional School of Business & Technology, vol. 5, pages 76-89.
    4. Andreas, Jörn Michael & Rapp, Marc Steffen & Wolff, Michael, 2010. "Determinants of director compensation in two-tier systems: evidence from German panel data," CEFS Working Paper Series 2010-06, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).

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    More about this item

    Keywords

    Ownership structure; Manager remuneration; Pay for performance; Corporate governance; Germany; G32; L25; M52;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects

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