Corporate ownership and initial training in Britain, Germany and Switzerland

Working paper

This paper considers whether listed companies with dispersed ownership invest less in training than do other firms, as part of a short-termist stance caused by pressure from the stock market. An analytical framework that supports the proposition involves three factors: high agency costs between the shareholders and managers of listed firms that have dispersed ownership; the use of highly geared performance-related pay to reward top managers; and accounting conventions that distort performance...

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Authors: Ryan, P; Wagner, K; Teuber, S; Backes-Gellner, U

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: ESRC Centre on Skills, Knowledge and Organisational Performance (SKOPE) Publisher's website
• Series: SKOPE Research Paper
• Place of publication: http://www.skope.ox.ac.uk/publications
• Publication date: 2010-01-01
• ISSN: 1466-1535
• Paper number: 99, December 2010
• Language: English
• Subjects: Business and Management; Education