The impact of disclosure obligations on executive compensation - A policy evaluation using quantile treatment estimators

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dc.contributor.authorDyballa, Katharina
dc.contributor.authorKraft, Kornelius
dc.date.accessioned2016-10-28T12:30:25Z
dc.date.available2016-10-28T12:30:25Z
dc.date.issued2016
dc.description.abstractThis empirical study analyses the effects of the introduction of strongly increased disclosure requirements in Germany on the level of executive compensation. One innovative aspect is the comparison of companies which voluntarily followed a recommendation of the German Governance Code before the relevant law was implemented and published detailed information on executive compensation with other firms which did not. Conditional and unconditional quantile difference-indifferences models are estimated. The companies which refused to publish data before it became mandatory show a reduction in compensation levels for the upper quantiles. Hence, the mandatory requirement to publish detailed information reduced the higher levels of executive compensations, but did not affect executive compensation at lower or medium levels.en
dc.identifier.urihttp://hdl.handle.net/2003/35305
dc.identifier.urihttp://dx.doi.org/10.17877/DE290R-17348
dc.language.isoende
dc.relation.ispartofseriesDiscussion Paper / SFB823;57, 2016en
dc.subjectexecutive compensationen
dc.subjectquantile treatment effecten
dc.subjectpolicy evaluationen
dc.subjectcorporate governance regulationen
dc.subjectdisclosure obligationsen
dc.subject.ddc310
dc.subject.ddc330
dc.subject.ddc620
dc.subject.rswkVorstandsmitgliedde
dc.subject.rswkVergütungde
dc.subject.rswkPublizitätspflichtde
dc.subject.rswknichtparametrische Statistikde
dc.titleThe impact of disclosure obligations on executive compensation - A policy evaluation using quantile treatment estimatorsen
dc.typeTextde
dc.type.publicationtypeworkingPaperde
dcterms.accessRightsopen access

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