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Chair of Public Management & Public Policy

Research project | Effects of Executive Directors' Characteristics and Enterprise Characteristics on the Level and Disclosure of Remuneration of State-owned Enterprises

The aim of our longitudinal study is to analyze the influence of executive director-characteristics such as age, gender, tenure, professional experience or schooling, on on the level and disclosure of remuneration state-/municipal-owned enterprises (SOE). Executive directors are in many aspects the most powerful and influential actors for the enforcement of corporate policies. Their individual characteristics are considered as important factors influencing these policies. Further, the study examines in how far enterprise characteristics (organizational performance, industry, size category, size of top-management body, region, institutional characteristics like disclosure legisation or public corporate governance codes) influence the level and disclosure of remuneration of SOEs.

The specific corporate policy variables relate to investment policy, financial policy, distribution policy, bailout policy as well as financial performance. These variables will be measured on the basis of relevant financial ratios. In the observed scholarly discussion as well as in managerial practice, financial ratios play a significant role for the management of SOEs. In addition, it is investigated which variables influence and explain deficits/differences in disclosure practice and transparency as well as the quality of annual reports. Furthermore, effects on the level and structure of executive director’s compensation between and particularly within sectors are analyzed.


  • Prof Dr Ulf Papenfuß (project management)
  • M Sc Christian Schmidt