haku: @indexterm Company performance / yhteensä: 1230
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| Tekijä: | Knoll, L. Knoesel, J. Probst, U. |
| Otsikko: | Aufsichtsratvergütungen in Deutschland: Empirische Befunde |
| Lehti: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
1997 : VOL. 49:3, p. 236-254 |
| Asiasana: | COMPENSATION TOP MANAGEMENT BOARD OF DIRECTORS COMPANY PERFORMANCE EMPIRICAL RESEARCH GERMANY |
| Kieli: | ger |
| Tiivistelmä: | Contrary to the anglo-saxon literature there are only a few econometric studies on top management compensation in Germany and it is even very rare that the compensation of board of members is examined. This article is an explorative step to fill this gap. Univariate regressions estimate the influence of firm performance on the compensation of German board members. The 20 specifications have surprisingly common results: For the whole sample of 125 German corporations as well as for an equity-oriented sample stratification no significant slope parameter can be estimated and the maximum R2 reaches just 1.2%. As a consequence, incentives for German board members to act in the aim of the shareholders must come from sources other than existing compensation schemes. |
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