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Abfindungen für Vorstandsmitglieder: Empirische Untersuchung der Entsprechenserklärungen von CDAX-Unternehmen

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  • Schottmüller-Einwag, Ute

Abstract

Diese Studie untersucht die Akzeptanz der Empfehlung 4.2.3 Abs. 4 S. 1 Deutscher Corporate Governance Kodex zwischen 2010 und 2014 bei allen CDAX-Unternehmen. Dazu wurden die Entsprechenserklärungen ausgewertet, Entsprechens- und Abweichungsquoten bestimmt, Abweichungsgründe ermittelt und Zusammenhänge zwischen Entsprechen oder Abweichung und anderen Unternehmensmerkmalen mittels binomialer logistischer Regressionsanalyse untersucht. Über 20% aller CDAX-Unternehmen lehnten die Empfehlung ab. Der am häufigsten genannte Abweichungsgrund waren rechtliche Bedenken. Während zwischen erklärtem Entsprechen und Segment- sowie Indexzugehörigkeit ein signifikant positiver Zusammenhang gezeigt werden kann, ist dieser Effekt bei erklärter Abweichung insignifikant.

Suggested Citation

  • Schottmüller-Einwag, Ute, 2016. "Abfindungen für Vorstandsmitglieder: Empirische Untersuchung der Entsprechenserklärungen von CDAX-Unternehmen," Discussion Papers of the Institute for Organisational Economics 06/2016, University of Münster, Institute for Organisational Economics.
    • Handle: RePEc:zbw:umiodp:062016
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    More about this item

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects

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