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Gestaltung zielkonsistenter Anreizsysteme für riskante Investitionen

Gestaltung zielkonsistenter Anreizsysteme für riskante Investitionen


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About the Book

​Im Rahmen der Delegation von Investitionsentscheidungen durch den Eigentümer an einen besser informierten Manager besteht die Gefahr, dass der Manager sich an seinen persönlichen Zielen orientiert, die grundsätzlich von der Zielsetzung der Eigentümer divergieren können. David Wollscheid zeigt, wie durch die Implementierung zielkonsistenter Anreizsysteme bei riskanten mehrperiodigen Investitionsentscheidungen die Zeit- und Risikopräferenzen des Managers mit der Zielsetzung des Eigentümer im Einklang gebracht werden können. Insbesondere stehen die Herleitung von allgemeinen notwendigen und hinreichenden Bedingungen für die Konstruktion zielkonsistenter Performancemaße in Vordergrund. Ferner wird der Frage nachgegangen, welche Informationserfordernisse für die Gestaltung solcher Performancemaße bestehen, und damit einhergehend, inwieweit Grenzen der Gestaltung solcher zielkonsistenter Anreizsysteme in der Praxis zu befürchten sind.

Table of Contents:
​Grundlagen der Gestaltung zielkonsistenter Anreizsysteme.- Gestaltung zielkonsistenter Anreizsysteme bei unbekannten Präferenzen und sicheren Projekten.- Gestaltung zielkonsistenter Anreizsysteme bei unbekannten Präferenzen und riskanten Projekten im Ein-Zeitpunkt-Fall sowie für mehrperiodige riskante Projekte.- Verdeutlichung der Ergebnisse anhand von Beispielrechnungen.- Herleitung notwendiger und hinreichender Bedingungen zur Erreichung von Zielkonsistenz und Implikationen für Normalinvestitionen, mehrperiodige Konstruktions- und Leasing-Verträge.

About the Author :
Dr. David Wollscheid promovierte bei Prof. Dr. Louis Velthuis am Lehrstuhl für Controlling der Johannes Gutenberg-Universität Mainz.


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Product Details
  • ISBN-13: 9783658013318
  • Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
  • Publisher Imprint: Springer Gabler
  • Height: 210 mm
  • No of Pages: 241
  • Width: 148 mm
  • ISBN-10: 3658013311
  • Publisher Date: 08 May 2013
  • Binding: Paperback
  • Language: German
  • Returnable: Y


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