IDEAS home Printed from https://ideas.repec.org/a/bpj/aelcon/v4y2013i1p1-16n2.html
   My bibliography  Save this article

Remuneration of Non-Executive Directors in German Listed Firms: An Empirical Analysis from a Practitioners’ Perspective

Author

Listed:
  • Lazar Christian

    (Faculty of Business Administration and Economics, Philipps-University Marburg, Marburg, Germany)

  • Metzner Yves

    (Faculty of Business Administration and Economics, Philipps-University Marburg, Marburg, Germany)

  • Rapp Marc Steffen

    (Faculty of Business Administration and Economics, Philipps-University Marburg, Marburg, Germany)

  • Wolff Michael

    (Faculty of Economic Sciences, Universtiy of Göttingen, Göttingen Germany)

Abstract

We analyze director compensation in German listed firms for the 2005–2009 period. Our sample covers all listed companies in the German Prime Standard of the Frankfurt Stock Exchange, specifically firms with shares listed in the indices of DAX, MDAX, SDAX, and TecDAX. In the last years, non-executive directors are facing increasing duties and (legal) responsibilities. From that perspective, it is quite surprising that the remuneration of non-executive directors has received rather little attention so far. In this study, we examine the German experience. We present the status quo of non-executive director remuneration and discuss its challenges. Specifically, we will look at the level of director remuneration and the (possible) problem of limited incentives.

Suggested Citation

  • Lazar Christian & Metzner Yves & Rapp Marc Steffen & Wolff Michael, 2013. "Remuneration of Non-Executive Directors in German Listed Firms: An Empirical Analysis from a Practitioners’ Perspective," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 4(1), pages 1-16, June.
    • Handle: RePEc:bpj:aelcon:v:4:y:2013:i:1:p:1-16:n:2
    DOI: 10.1515/ael-2013-0014
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/ael-2013-0014
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/ael-2013-0014?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Michel Goyer, 2006. "Varieties of Institutional Investors and National Models of Capitalism: The Transformation of Corporate Governance in France and Germany," Politics & Society, , vol. 34(3), pages 399-430, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Claude Dupuy & Stephanie Lavigne & Dalila Chenaf-Nicet, 2016. "Where Do “Impatient” Mutual Funds Invest? A Special Attraction for Large Proximate Markets and Companies with Strategic Investors," Post-Print hal-03897273, HAL.
    2. Claude Dupuy & Stéphanie Lavigne & Dalila Nicet-Chenaf, 2010. "Does Geography Still Matter? Evidence on the Portfolio Turnover of Large Equity Investors and Varieties of Capitalism," Economic Geography, Taylor & Francis Journals, vol. 86(1), pages 75-98, January.
    3. Florence Palpacuer & Amélie Seignour, 2019. "Resisting via Hybrid Spaces : The Cascade effect of a workplace Struggle against Neoliberal Hegemony," Post-Print hal-02436750, HAL.
    4. Braun, Benjamin, 2016. "Gross, greed, and ETFs: The case for a microfounded political economy of the investment chain," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 17(3), pages 6-13.
    5. Michel Aglietta & Antoine Rebérioux, 2012. "Financialisation and the Firm," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 23, Edward Elgar Publishing.
    6. Daniel Haberly, 2014. "White Knights from the Gulf: Sovereign Wealth Fund Investment and the Evolution of German Industrial Finance," Economic Geography, Clark University, vol. 90(3), pages 293-320, July.
    7. Darcillon, Thibault, 2015. "Corporate governance reforms and political partisanship: an empirical analysis in 16 OECD countries," Business and Politics, Cambridge University Press, vol. 17(4), pages 661-696, December.
    8. Scheuplein, Christoph, 2020. "Wer kommt, wenn Private Equity geht? Langfristige Wirkungen auf die Eigentümerstruktur deutscher Unternehmen," Forschung Aktuell 10/2020, Institut Arbeit und Technik (IAT), Westfälische Hochschule, University of Applied Sciences.
    9. Pierre-Louis Choquet, 2019. "Piercing the corporate veil: Towards a better assessment of the position of transnational oil and gas companies in the global carbon budget," Post-Print hal-04401241, HAL.
    10. Vail, Mark I., 2007. "The evolution of bargaining under austerity: Political change in contemporary French and German labor-market reform," MPIfG Discussion Paper 07/10, Max Planck Institute for the Study of Societies.
    11. Kenneth Amaeshi & Olufemi Amao, 2009. "Corporate Social Responsibility in Transnational Spaces: Exploring Influences of Varieties of Capitalism on Expressions of Corporate Codes of Conduct in Nigeria," Journal of Business Ethics, Springer, vol. 86(2), pages 225-239, March.
    12. Christophe Volonté, 2015. "Culture and Corporate Governance: The Influence of Language and Religion in Switzerland," Management International Review, Springer, vol. 55(1), pages 77-118, February.
    13. Virginia Doellgast & Ursula Holtgrewe & Stephen Deery, 2009. "The Effects of National Institutions and Collective Bargaining Arrangements on Job Quality in Front-Line Service Workplaces," ILR Review, Cornell University, ILR School, vol. 62(4), pages 489-509, July.
    14. Stefan Petranov & Milena Angelova, 2012. "Development and prospects of the corporate management systems in the European union," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 110-122.
    15. Jean-Paul POLLIN, 2010. "l eurosystème et l'intégration financière européenne," LEO Working Papers / DR LEO 832, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    16. Nahee Kang, 2014. "Towards middle-range theory building in development research: Comparative (historical) institutional analysis of institutional transplantation," Progress in Development Studies, , vol. 14(3), pages 221-235, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:aelcon:v:4:y:2013:i:1:p:1-16:n:2. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.