Reformierung der Vergütungssysteme für die Finanzbranche – Eine rechtsökonomische Analyse

Die Vergütungspraktiken bei Spitzenmanagern gelten als Mitverursacher der Finanz- und Wirtschaftskrise und stehen in der ?ffentlichen Kritik. Oft werden Spitzenmanager für kurzfristige Unternehmenserfolge mit gro?zügigen Bonuszahlungen ausgestattet, w?hrend Fehlverhalten nicht sanktioniert wird. Eine solche Vergütungspraxis setzt falsche Anreizmechanismen und f?rdert die Risikobereitschaft von Spitzenmanagern. In diesem Aufsatz werden zun?chst die derzeitigen Regulierungslücken im Lichte der Prinzipal-Agenten-Beziehung diskutiert. Anschlie?end wird anhand eines theoretischen Modells gezeigt, wie die kurzfristige Gewinnorientierung eines Managers zu einem Moral-Hazard-Verhalten führen kann. Des Weiteren werden m?gliche Reformma?nahmen diskutiert sowie die bisherigen Reformbemühungen beleuchtet. Mit der Verankerung der neuen Instituts-Vergütungsverordnung im deutschen Recht ist ein erster Schritt zu einer langfristigen und nachhaltigen Unternehmenspolitik erfolgt. Es kommt in naher Zukunft darauf an, dass alle Industrie- und Schwellenl?nder die internationalen Richtlinien in nationale Gesetzgebung umsetzen, damit keine Regulierungsarbitrage zwischen den einzelnen Staaten entsteht.     

Prizes and Parasites: Incentive Models for Addressing Chagas Disease

Recent advances in immunology have provided a foundation of knowledge to understand many of the intricacies involved in manipulating the human response to fight parasitic infections, and a great deal has been learned from malaria vaccine efforts regarding strategies for developing parasite vaccines. There has been some encouraging progress in the development of a Chagas vaccine in animal models. A prize fund for Chagas could be instrumental in ensuring that these efforts are translated into products that benefit patients.     

Selected literature on radicalization and de-radicalization of terrorists: Monographs,Edited Volumes,Grey Literature and Prime Articles published since the 1960s

Crime, Law and Social Change -     

Relationship between the retirement, disability, and unemployment insurance programs: the U.S. experience

This article was prepared initially for an international conference of social security program administrators and researchers. They examined the reasons for, and implications of, a recent trend in several European countries toward making it easier to qualify for retirement or disability benefits as a way of alleviating long-term unemployment. The article notes that the United States has not followed this trend. Instead, this country has continued to use temporary extensions of unemployment insurance benefits as a way to help the long-term unemployed during recessionary periods. Since the mid-1970's, the emphasis in retirement and disability insurance programs has been to strengthen the financial integrity of these programs rather than to expand eligibility. Described here are the progression of extended benefit provisions of unemployment insurance through the most recent recession, the historical development of early retirement features in the social security program, and the more recent attention that has been paid to the financing issues that have played a central role in legislation during the late 1970's and early 1980's. Unemployment experience and trends toward early retirement are examined, along with the role of public and private employee pension plans that supplement social security retirement benefits. Preliminary data from the Social Security Administration's New Beneficiary Survey show the prevalence of such pension coverage for recent retirees and the extent to which these pension benefits were claimed before normal retirement age.     

Cash benefits for short-term sickness, 1948-81

At least three-fifths of all workers are under some kind of formal plan offering income replacement during temporary periods of illness, even though there is no national sick-pay program. In 1981, income loss due to short-term non-work-related disabilities totaled +41.3 billion. Sick-pay benefits were +15.6 billion, representing 38 percent of the income that otherwise would have been lost. The replacement rate has been fairly stable since 1974, following earlier periods of uneven increases from the 17 percent recorded for 1948, the first year of this series. This article includes estimates for 1980 and 1981 and revisions for 1978 and 1979 of the income loss and benefits arising from short-term sickness. Also included are the losses and benefits for the first 6 months of long-term disability.