Was erklärt die steigenden Managerlöhne? Ein Diskussionsbeitrag

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Was erklärt die steigenden Managerlöhne? Ein Diskussionsbeitrag

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Matthias Benz
Alois Stutzer

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Alois Stutzer

Abstract

Die Entlohnung von Topmanagern ist in den westlichen Industrieländern über die letzten Jahre markant angestiegen. Wir stellen verschiedene Ansätze dar, welche diese Entwicklung zu erklären versuchen, und prüfen sie auf ihren Erklärungsgehalt: (1) Die Entwicklung ist das Ergebnis eines gut funktionierenden Marktprozesses; sie beruht auf strukturellen Veränderungen auf der Nachfrage- bzw. auf der Angebotsseite des Managermarktes; (2) Die Entwicklung reflektiert 'rent seeking': infolge von Marktunvollkommenheiten können Manager als Anbieter von Managementdienstleistungen die Nachfrage nach diesen Leistungen beeinflussen. Managerentlohnung wird dabei mit der Qualität der corporate governance in Verbindung gebracht; (3) Ein eigener Erklärungsvorschlag bringt die Entwicklung in den USA mit der Einführung von Offenlegungsvorschriften für Spitzenentschädigungen im Jahre 1992 in Zusammenhang: diese haben einen sich selbst verstärkenden Prozess der Referenzgruppenentlohnung in Gang gesetzt. Abschliessend werden institutionelle Reformen diskutiert, die Markt- und Kontrollkräfte im Managermarkt stärken können.

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Paper provided by Institute for Empirical Research in Economics - IEW in its series IEW - Working Papers with number iewwp081.

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Handle: RePEc:zur:iewwpx:081

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Keywords: Managerentlohnung;

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Find related papers by JEL classification:
M1 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration

This paper has been announced in the following NEP Reports:

NEP-ALL-2001-06-22 (All new papers)

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Other versions:
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Other versions:
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Other versions:
- Frey, Bruno S. & Kucher, Marcel & Stutzer, Alois, 1999. "Outcome, Process & Power in Direct Democracy," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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Other versions:
- Armin Falk & Ernst Fehr & Urs Fischbacher, 2001. "Appropriating the Commons A Theoretical Explanation," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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Other versions:
- Ernst Fehr & Jean-Robert Tyran, . "Does Money Illusion Matter?," IEW - Working Papers iewwp012, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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Other versions:
- Leonard J. Mirman & Klaus Reiner Schenk-Hoppé, . "Financial Markets and Stochastic Growth," IEW - Working Papers iewwp066, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Bruno S. Frey & Stephan Meier, . "Political Economists are Neither Selfish nor Indoctrinated," IEW - Working Papers iewwp069, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Other versions:
- Bruno Frey & Stephan Meier, 2001. "Political Economists are Neither Selfish Nor Indoctrinated," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Josef Zweimueller & Rudolf Winter-Ebmer, . "Firm-specific Training: Consequences for Job Mobility," IEW - Working Papers iewwp037, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Other versions:
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Other versions:
- Lalive, R. & Ours, J.C. van & Zweimueller, J., 2000. "The impact of active labor market programs and benefit entitlement rules on the duration of unemployment," Discussion Paper 41, Tilburg University, Center for Economic Research. [Downloadable!]
Bruno S. Frey & Alois Stutzer, . "Maximising Happiness?," IEW - Working Papers iewwp022, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Other versions:
- Bruno S. Frey & Alois Stutzer, 2000. "Maximising Happiness?," German Economic Review, Blackwell Publishing, vol. 1(2), pages 145-167, 05. [Downloadable!] (restricted)
Reiner Eichenberger & Bruno S. Frey, . "Europe's Eminent Economists: A Quantitative Analysis," IEW - Working Papers iewwp057, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Albrecht Ritschl & Ulrich Woitek, . "Did Monetary Forces Cause the Great Depression? A Bayesian VAR Analysis for the U.S. Economy," IEW - Working Papers iewwp050, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Other versions:
- Albrecht Ritschl & Ulrich Woitek, 2000. "Did Monetary Forces Cause the Great Depression? A Bayesian VAR Analysis for the U.S. Economy," Working Papers 2000_07, Department of Economics, University of Glasgow. [Downloadable!]
Bruno Frey & Alois Stutzer, 2001. "Beyond Bentham -- Measuring Procedural Utility," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Frey, Bruno S. & Stutzer, Alois, 2000. "Happiness, Economy and Institutions," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Other versions:
- Bruno S. Frey & Alois Stutzer, . "Happiness, Economy and Institutions," IEW - Working Papers iewwp015, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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