Principal Investigators: Gerd Schön, Alexander Shnirman CFN financed scientists: Juha Leppäkangas (18 months), Jasmin Aghassi (3 months, PhD July 2007), Stefan Legel (3 months 0,75, PhD January 2008), Michael Marthaler (17 months 0,75, PhD June 2009), Anna Posazhennikova (18 months), Yasuhiro Utsumi (guest scientist + guest professor 5 months), Gergely Zarand (Bessel award 1 year + guest profes...

Article history: Received 27 October 2007 Received in revised form 18 June 2008 Accepted 18 June 2008 Available online 26 June 2008 This paper investigates the effect of stock market microstructure on managerial compensation schemes. We propose and empirically demonstrate that the sensitivity of chief executive officer's (CEO's) compensations to changes in stockholders' value is higher when the...

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Professional Institutional Original Effective Date: October 17, 2006 Original Effective Date: May 1, 2007 Revision Date(s): January 20, 2007; April 1, 2007; September 25, 2007; June 26, 2008; January 1, 2009; June 30, 2009; February 25, 2011; January 15, 2013; March 27, 2014; January 21, 2016; December 20, 2017 Revision Date(s): September 25, 2007; June 26, 2008; January 1, 2009; June 30, 2009;...