Die Entwicklung der Managereinkommen in den USA

Sergiu-Mihai Cupas
2012 unpublished
Managerial income in the USA is a topic that has been debated and written a lot about within the last decades. The factors contributing to that were the increase in income, the windfalls for CEOs within the 1990s and the opinion, that high CEO-incomes were tied to firings and closings (cf. Murphy, 1999, p. 1). After the beginning of the financial crisis of 2008, compensation agreements at banks were blamed for provoking the crisis (cf. Conyon, 2012, p. 390).. The two main theories are the
more » ... -Length Bargaining" and "Managerial Power"-approaches. The first one assumes compensation arrangements as the outcome of efficient contracting, the second anticipates managerial influence and excessive power over boards at pay negotiations (cf. Bebchuk and Fried, 2004, pp. 2-3). There is empirical support for both theories. At present it is too early to conclude which one describes reality better (cf. Conyon, 2012, p. 383). Researchers have pointed out a positive relation between managerial income and firm size (cf. Hallock, 2011, p. 1). This was proven in this thesis by means of a dataset and it became apparent here too that firm size has a positive effect on managerial income.
doi:10.25365/thesis.22012 fatcat:q454ltkkmfhr5p42yic2jz4q5i