Corpus ID: 51340456

Does Transparency Increase Executive Compensation ?

  title={Does Transparency Increase Executive Compensation ?},
  author={C. Schmidt},
I study the impact of changes in compensation disclosure on the level and structure of executive compensation. I exploit exogenous variation of compensation information among executives after a corporate governance reform in Germany in the late 2000s. The reform, for the first time in Germany, required firms to publicly disclose the individual compensation packages of key executives. Prior to the reform, only outside board members deciding on the compensation packages were privileged to this… Expand
8 Citations
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