The working paper 06/2009 studies the impact of external reference values on managerial compensation contracts. The authors, Gregoric, Polanec & Slapničar, consider the effect of adoption of non-binding pay norms on actual remuneration behavior using a unique country example.
Dr. Sabina Nielsen from CCG has been awarded a Marie Curie Fellowship from the EU Commission for the research project “A longitudinal multilevel investigation of the influence of top management team, board of directors and CEO characteristics on firm strategy and performance of European MNCs”.
The second issue of the new Working Paper Series at CCG by Ole Risager deals with the value premium in the Danish market. On the basis of a unique data set that extends over more than half a century, this paper not only shows that there is a value premium in the Danish market but also that growth stocks only produce high earnings growth in the run-up to portfolio formation.
The Center for Corporate Governance has launched a new Working Paper Series. From now on new working papers will appear regularly on this homepage. The first issue deals with the new European Shareholder Rights Directive.