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Pascal Engel investigates how outside directors are incentivized in family firms that are publicly listed but still partly owned by members of the founding family. Owning families significantly influence their firms' corporate conduct with their own set of goals, sometimes in conflict with economically driven goals of the capital markets. The author analyzes how family shareholders exert their influence on compensation schemes of outside directors who have the difficult task to protect the interests of family and non-family shareholders. This book provides insights on current approaches of defining a compensation scheme that attracts qualified outside directors but concurrently reflects respective shareholders' preferences.  Contents Research on Family Firms Outside Directors' Pay Level Voluntary Disclosure of Outside Directors' Compensation Outside Directors' Pay Mix  Target Groups Researchers and students in the fields of compensation, corporate governance, and family business research Shareholders, executives, and outside directors of public family firms as well as analysts and compensation consultants  The Author Dr. Pascal Engel wrote his dissertation under the supervision of Prof. Dr. Andreas Hack at the Institute for Family Businesses at WHU - Otto Beisheim School of Management, Vallendar.  About the Editors The series Familienunternehmen und KMU is edited by Prof. Dr. Andreas Hack, Prof. Dr. Andrea Calabrò, Prof. Dr. Hermann Frank, Prof. Franz W. Kellermanns Ph.D. and Prof. Dr. Thomas Zellweger.

Economics/Management Science. --- Management/Business for Professionals. --- Business Strategy/Leadership. --- Corporate Governance. --- Economics. --- Industrial management. --- Economie politique --- Gestion d'entreprise --- Management --- Business & Economics --- Management Theory --- Family-owned business enterprises. --- Shareholder. --- Business enterprises, Family-owned --- Family business --- Family businesses --- Family enterprises --- Family firms --- Business. --- Corporate governance. --- Leadership. --- Business and Management. --- Family Business. --- Business enterprises --- Family-owned business enterprise. --- Governance, Corporate --- Industrial management --- Directors of corporations --- Ability --- Command of troops --- Followership

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This paper surveys the current state of the literature on international monetary policy coordination. It relates recent policy discussions to the lessons from the literature. It proposes several avenues for future research.

Zonder onderwerpscode: economie

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The well-known uncovered interest parity puzzle arises from the empirical regularity that, among developed country pairs, the high interest rate country tends to have high expected returns on its short term assets. At the same time, another strand of the literature has documented that high real interest rate countries tend to have currencies that are strong in real terms - indeed, stronger than can be accounted for by the path of expected real interest differentials under uncovered interest parity. These two strands - one concerning short-run expected changes and the other concerning the level of the real exchange rate - have apparently contradictory implications for the relationship of the foreign exchange risk premium and interest-rate differentials. This paper documents the puzzle, and shows that existing models appear unable to account for both empirical findings. The features of a model that might reconcile the findings are discussed.

Zonder onderwerpscode: economie