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Eignung von Stock-Option-Plänen als internes Anreiz- und Überwachungsinstrument der Unternehmungsleitung in deutschen Aktiengesellschaften

Eignung von Stock-Option-Plänen als internes Anreiz- und Überwachungsinstrument der Unternehmungsleitung in deutschen Aktiengesellschaften

          
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About the Book

Inhaltsangabe: Einleitung: Die Suche nach Instrumenten und Mechanismen zur verbesserten Anreizgestaltung und Überwachung in Aktiengesellschaften ist nicht neu und basiert auf der Annahme, daß die Interessen des Managements nicht unbedingt mit denen der anderen beteiligten Interessengruppen übereinstimmen müssen. Es wird aus diesem Grund versucht, das Verhalten der Unternehmungsleitung durch den Einsatz geeigneter Kontrollmechanismen zu steuern. In die gleiche Richtung zielt eine Verhaltenssteuerung durch Anreizsysteme, mit deren Hilfe die Interessen der verschiedenen Anspruchsgruppen aneinander angeglichen werden sollen. Speziell wertorientierte Anreizkonzepte, die auf der Grundlage der Shareholder-Value-Theorie entwickelt wurden, haben dabei in den letzten Jahren stark an Bedeutung gewonnen. Nachdem diese Theorie zunächst in den USA auf breite Zustimmung traf, gibt es mittlerweile auch in Deutschland kaum mehr Aktiengesellschaften, die nicht von sich behaupten würden, eine wertorientierte Strategie zu verfolgen. Ein bedeutendes Instrument wertorientierter Anreizsysteme sind Stock-Option-Pläne für die Unternehmungsleitung. Deren Einführung ist in Publikumsaktiengesellschaften mit der Hoffnung verbunden, daß durch eine Kopplung der Managementvergütung an den Marktwert der Gesellschaft die Interessendivergenz zwischen Eigentümern und Management reduziert und dadurch die Gefahr von Unternehmenskrisen minimiert werden kann. Die Eignung des Instruments ist dabei in der Wirtschaftswissenschaft durchaus umstritten. Der praktischen Ausgestaltung von Stock-Option-Plänen wird mitunter vorgeworfen, den Grundsatz der Wertorientierung nicht tatsächlich zu verfolgen, sondern dem Management lediglich ungerechtfertigt hohe Gehälter zu bescheren. Im Rahmen dieser Arbeit wird auf Grundlage dieser widersprüchlichen Einschätzungen diskutiert, unter welchen Voraussetzungen Stock-Option-Pläne eine Interessenangleichung in Aktiengesellschaften bewirken und damit einen Beitrag zur Überwac


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Product Details
  • ISBN-13: 9783838623979
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 6 mm
  • Width: 148 mm
  • ISBN-10: 3838623975
  • Publisher Date: 29 May 2000
  • Height: 210 mm
  • No of Pages: 100
  • Series Title: German
  • Weight: 140 gr


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Eignung von Stock-Option-Plänen als internes Anreiz- und Überwachungsinstrument der Unternehmungsleitung in deutschen Aktiengesellschaften
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Eignung von Stock-Option-Plänen als internes Anreiz- und Überwachungsinstrument der Unternehmungsleitung in deutschen Aktiengesellschaften
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