Foreign competition and executive compensation in the manufacturing industry – A comparison between Germany and the U.S.

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dc.contributor.authorDyballa, Katharina
dc.contributor.authorKraft, Kornelius
dc.date.accessioned2018-07-24T13:42:57Z
dc.date.available2018-07-24T13:42:57Z
dc.date.issued2018
dc.description.abstractIn this study we use import penetration as a proxy for foreign competition in order to empirically analyze (1) the impact of foreign competition on managerial compensation, (2) differences in the impact between Germany and the U.S and (3) whether the impact of import penetration is driven by implied efficiency effects. We use data from the manufacturing industry covering the period from 1984-2010 for Germany respectively 1992-2011 for the U.S and apply system GMM in order to solve potential endogeneity problems. It turns out that foreign competition leads to an increase of average per capita executive compensation in both countries. The impact of foreign competition on payperformance sensitivity differs between the US and Germany. A differentiation between imported intermediates (efficient sourcing strategy) and final inputs (competition) reveals that the impact of import penetration is not biased by efficiency effects.en
dc.identifier.urihttp://hdl.handle.net/2003/37058
dc.identifier.urihttp://dx.doi.org/10.17877/DE290R-19055
dc.language.isoende
dc.relation.ispartofseriesDiscussion Paper / SFB823;15/2018
dc.subjectforeign competitionen
dc.subjectsystem GMMen
dc.subjectinternational comparisonen
dc.subjectmanagerial incentivesen
dc.subjectoutsourcingen
dc.subject.ddc310
dc.subject.ddc330
dc.subject.ddc620
dc.subject.rswkInternationaler Wettbewerbde
dc.subject.rswkInternationaler Vergleichde
dc.subject.rswkDeutschlandde
dc.subject.rswkUSAde
dc.subject.rswkFührungskraftde
dc.subject.rswkVergütungde
dc.titleForeign competition and executive compensation in the manufacturing industry – A comparison between Germany and the U.S.en
dc.typeTextde
dc.type.publicationtypeworkingPaperde
dcterms.accessRightsopen access
eldorado.secondarypublicationfalsede

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