Auflistung LIF-SAFE Working Papers nach JEL-Klassifizierung "G30"
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Does Say on Pay Matter? Evidence from Germany
(2017-09-13)We analyze a hand-collected dataset of 1682 executive compensation packages at 34 firms included in the main German stock market index (DAX) for the years 2009-2017 in order to investigate the impact of the 2009 say on pay ... -
Incentive-Based Capital Requirements
(2018-05-02)This paper proposes a new regulatory approach that implements capital requirements contingent on executive incentive schemes. We argue that excessive risk-taking in the financial sector originates from the shareholder moral ... -
Non-Mandatory Say on Pay Votes and AGM Participation: Evidence from Germany
(2015-06-01)Since August 2009, German legislation allows for voluntary Say on Pay Votes (SoPV) during Annual General Meetings (AGMs). We examine 1,169 AGMs of all German listed firms with more than 10,000 agenda items over the period ... -
The Forward-looking Disclosures of Corporate Managers: Theory and Evidence
(2016-07-15)We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making ... -
The Real Effects of Judicial Enforcement
(2018-10-31)This paper shows that the quality of judicial enforcement has substantial real effects. I exploit a reorganization of the judicial districts in Italy as an exogenous shock to court productivity and, using an instrumental ...