Advanced Search
MyIDEAS: Login

Höhe, Struktur und Determinanten der Managervergütung: Eine Analyse der Fondsbranche in Deutschland

Contents:

Author Info

  • Drachter, Kerstin
  • Kempf, Alexander
Registered author(s):

    Abstract

    In dieser Arbeit untersuchen wir Höhe und Struktur der Vergütung von Fondsmanagern und erklären diese durch Eigenschaften des Arbeitnehmers, des Arbeitgebers und des Arbeitsplatzes. Insgesamt verdienen deutsche Fondsmanager weniger als ihre merikanischen Kollegen. Die Vergütungshöhe hängt primär von der Bedeutung des Arbeitsplatzes im Unternehmen ab, die Vergütungsstruktur dagegen in erster Linie von Eigenschaften des Fondsmanagers und der Fondsgesellschaft. Fondsgesellschaften motivieren ihre Manager primär durch hohe Boni in guten Jahren, nicht durch Bestrafung in schlechten Jahren. Dem aus dieser Asymmetrie resultierenden Anreiz zu hohen Anlagerisiken wirken Fondsgesellschaften durch Einschränkung der Handlungsspielräume der Manager entgegen. Insgesamt deuten die Ergebnisse auf ein hohes Maß an Rationalität bei der Ausgestaltung der Vergütungsverträge in der Fondsbranche hin. --

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Paper provided by University of Cologne, Centre for Financial Research (CFR) in its series CFR Working Papers with number 10-05.

    as in new window
    Length:
    Date of creation: 2010
    Date of revision:
    Handle: RePEc:zbw:cfrwps:1005

    Contact details of provider:
    Postal: Albertus Magnus Platz, 50923 Köln
    Phone: 0221 / 470 5607
    Fax: 0221 / 470 5179
    Email:
    Web page: http://cfr-cologne.de/english/version06/html/home.php
    More information through EDIRC

    Related research

    Keywords: Vergütungsdeterminanten; Festgehalt; Bonuszahlungen; Fondsmanager; Anreize;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:zbw:cfrwps:1005. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.