Stefan Reichelstein's Books

Discretion in Managerial Bonus Pools

By: Merle Ederhof,Madhav V. Rajan,Stefan Reichelstein

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Discretion in Managerial Bonus Pools

By: Merle Ederhof,Madhav V. Rajan,Stefan Reichelstein

Discretion in Managerial Bonus Pools synthesizes and integrates a growing literature that has emerged over the past 10-15 years on the use of both objective and subjective performance indicators in managerial incentive plans. The authors examine the structure of efficient bonus pools (fixed payment schemes) in the presence of subjective performance indicators. The analysis covers a range of scenarios including single- and multi-agent settings, the interplay of objective and subjective indicators and short-term as opposed to long-term contracting relations. To synthesize the existing research, the authors frame their exposition around five recurring themes which collectively speak to the structure and the efficiency of incentive schemes based on subjective information i. Value of Subjective Performance Indicators. ii. Incremental Agency Cost. iii.Compression of Optimal Incentive Contracts. iv. Optimality of Proper Bonus Pools. v. Value of Multiperiod Contracting

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Now Publishers Inc

Published Date

ISBN 10

1601984545

ISBN 13

9781601984548

The Organizational Contract

From Exchange to Long-Term Network Cooperation in European Contract Law

By: Stefan Grundmann,Fabrizio Cafaggi

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The Organizational Contract

From Exchange to Long-Term Network Cooperation in European Contract Law

By: Stefan Grundmann,Fabrizio Cafaggi

This book introduces and develops the paradigm of the organisational contract in European contract law. Suggesting that a more radical distinction should be made between contracts which regulate single or spot exchanges and contracts that organize complex economic activities without creating a new legal entity, the book argues that this distinction goes beyond that between spot and relational contracts because it focuses on the organizational dimension of contracting and its governance features. Divided into six parts, the volume brings together a group of internationally renowned experts to examine the structure of long-term contractual cooperation; networks of contracts; knowledge exchange in long-term contractual cooperation; remedies and specific governance rules in long-term relationships; and the move towards legislation. The book will be of value to academics and researchers in the areas of private law, economic theory and sociology of law, and organizational theory. It will also be a useful resource for practitioners working in international contract law and international business transaction law.

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399

Publisher

Routledge

Published Date

ISBN 10

1317022173

ISBN 13

9781317022176

The EU Emission Trading Scheme

Aspects of Statehood, Regulation and Accounting

By: Stefan Veith

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The EU Emission Trading Scheme

Aspects of Statehood, Regulation and Accounting

By: Stefan Veith

The emission trading scheme is the most recent instrument of the EU environmental policy. Its underlying mechanisms and economic consequences are yet less straightforward than policymakers initially had expected: As this study shows, the regulation probably yields unintended distributional effects and imposes additional risk on the regulated companies. Consequently, meaningful accounting for emission rights is not only a necessity for regulators and customers, who need transparency, but also for investors on capital markets, who bear the additional regulatory risk. This study empirically assesses the usefulness of various accounting alternatives and provides evidence that cost and fair value approaches dominate the widely used mixed models.

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228

Publisher

Peter Lang

Published Date

ISBN 10

3631603150

ISBN 13

9783631603154

Book's by Stefan Reichelstein

Discretion in Managerial Bonus Pools

Discretion in Managerial Bonus Pools

The Organizational Contract

The Organizational Contract

The EU Emission Trading Scheme

The EU Emission Trading Scheme

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