Titelaufnahme

Titel
Foreign competition and executive compensation in the manufacturing industry : a comparison between Germany and the U.S. / Katharina Dyballa (TU Dortmund University), Kornelius Kraft (TU Dortmund University, IZA, KU Leuven and ZEW) ; IZA Institute of Labor Economics
VerfasserDyballa, Katharina ; Kraft, Kornelius
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, July 2018
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (50 Seiten)
SerieDiscussion paper ; no. 11713
URLVolltext
URNurn:nbn:de:hbz:5:2-163901 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Foreign competition and executive compensation in the manufacturing industry [0.34 mb]
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Verfügbarkeit In meiner Bibliothek
Zusammenfassung (Englisch)

In 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.

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