Download or read book Complex Compensation Empirical Essays on the Impact of Compensation Design on Firm Performance Turnover and Organizational Justice written by Tobias Oberpaul and published by BoD – Books on Demand. This book was released on 2024-01-19 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compensation contracts have become ever more complex and individualized, particularly in the executive compensation domain, where increasingly diverse stakeholder demands and governance requirements have led to the inclusion of more and increasingly interrelated components into compensation contracts. Even the compensation of lower-level employees has become complex as firms individualize employee compensation and use many different rewards simultaneously. Research has examined elements of compensation in isolation but has attempted to avoid the complexities of compensation. This dissertation examines the consequences of compensation complexity and compensation design dispersion and contributes to a better understanding of compensation and its consequences for firms and employees. The first study examines how the complexity of executive compensation contracts affects firm performance. It finds that CEO compensation complexity negatively affects accounting, market, and ESG (i.e., environmental, social, and governance) metrics of firm performance and explores mechanisms that help explain the relationships. The second study examines the effect of compensation design dispersion within top management teams and its impact on executive turnover. The results show that compensation design dispersion affects executive turnover, both directly and in interaction with relative pay level. The third study addresses the role of compensation design dispersion in the development of procedural justice perceptions. Using two experiments, this study shows that compensation design dispersion causes lower procedural justice perceptions, which appears to be less problematic for participants with relatively easier to understand contracts. In summary, this dissertation provides a nuanced overview of complex compensation design and compensation design dispersion. The findings contribute to a better understanding of the effectiveness of compensation as an incentive and sorting tool for organizations, and of the implications of compensation design for the functioning of teams.
Download or read book Executive Compensation Empirical Essays on the Antecedents and the Consequences and the Role of Executive Personality written by Steffen Florian Burkert and published by BoD – Books on Demand. This book was released on 2023-03-10 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top managers have a significant impact on organizations because they are responsible for the formulation and implementation of corporate strategies, have the visibility and influence to shape the opinions of internal and external stakeholders, and coin the culture of their organizations, affecting employees at every level of the organization. Research has focused on the drivers and consequences of top managers' actions, with a particular focus on executive compensation, but important questions remain unanswered. This dissertation contributes to the literature on top executives by examining the antecedents of executive compensation, the influence of executive compensation on executive behavior, and the interplay of executive compensation and top executive personality. The first study introduces the role of compensation benchmarking for determining executive compensation to the management literature. It finds that benchmarking leads to compensation convergence. The second study examines the impact of executive compensation complexity on firm performance. The results show that compensation complexity is negatively related to accounting-based, market-based, and ESG-based metric of firm performance. The third study explores the implications of relative performance evaluation (RPE) on the imitation behavior of firms. It finds that the introduction of RPE is positively related to the imitation of the strategic actions of peer firms. The fourth study contributes to the growing literature on the impact of corporate social performance (CSP) goals in CEO contracts. Specifically, it examines how and when CSP incentives influence the CEO's attention to corporate social responsibility topics. The final essay examines the role of CEO personality; it finds that differences in CEO personality explain differences in the level of strategic conformity. Taken together, the essays in this dissertation make a significant contribution to the scholarly discourse on the influence of top managers on their companies. The empirical evidence presented expands the current understanding of how top executives affect strategic firm behaviors, and it provides insights for policymakers, managers, and investors.
Download or read book The Empirical Effects of Performance Contracts written by Mary M. Shirley and published by World Bank Publications. This book was released on 1998 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: May 1998 On average, performance contracts do not improve productivity in China's state enterprises and may even reduce it. But when they contain all the right features-managerial bonds, profit orientation, higher wage elasticity, and lower markup ratios-performance contracts can boost a firm's productivity growth rate by an estimated 10 percent. Performance contracts are widely used to reform state-owned enterprises. By June 1994, there were 565 such contracts in 32 developing countries, used principally to reform large utilities and other monopolies, and roughly another 103,000 in China, where they are also used to reform state manufacturing enterprises. A performance contract is a written agreement between the manager of a state enterprise (who promises to achieve specific targets in a certain time frame) and government (which-usually-promises to award achievement with a bonus or other incentive). Performance contracts are a variant of the pay-for-performance or incentive contracts often used to motivate managers in the private sector. In the public sector, they are viewed as a device to reveal information and motivate managers to exert effort. Shirley and Xu analyze China's experience with performance contracts in more than 400 state enterprises. China is a good place for such a study because no country has ever used them on such a scale or with such a variety of enterprises (mostly in the competitive sector). China also uses many different kinds of contracts, with different targets (more profit-, tax-, or output-oriented). Shirley and Xu find that performance contracts * On average, do not improve productivity in China's state enterprises and may even reduce it. * Are ineffective in competitive firms as well as monopolies. * Do more harm when they provide only weak incentives and when they do not reduce information asymmetry. They find no connection between variables for commitment and the effects of performance contracts. Design matters. When performance contracts contain all the good features-profit orientation, higher wage elasticity, and lower markup ratios-the firm's productivity growth rate could increase as much as 10 percent. The Chinese government was serious about implementing performance contracts, and used measures considerably more radical than other countries used, hailing the contract system as the official national mode for reforming state enterprises. But most of the contracts have had little or no effect on growth rates and the observed frequency of contracts with good provisions is exceedingly low. Perhaps the political economy of incentive contracts in government settings merits further study. Political considerations may preclude the design of incentive contracts for government actors that could produce the sort of productivity gains some private firms have achieved. One observer (Byrd 1991) points out that the central government gave local governments a good deal of discretion in implementing performance contracts and local governments had a tendency to adopt the lowest common denominator, a bare-bones performance contract. This paper-a product of the Development Research Group-is part of a larger effort in the group to understand state enterprises. The authors may be contacted at [email protected] or [email protected].
Download or read book Essays in Compensation Contracts written by Filipe Balmaceda and published by . This book was released on 1998 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Executive Compensation and Firm Scope written by Yuri Khoroshilov and published by . This book was released on 2005 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book India Industrialisation in a Reforming Economy written by Suresh D. Tendulkar and published by Academic Foundation. This book was released on 2006 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kosaraju Leela Krishna, b. 1935, Indian economist; contributed articles.
Download or read book Inducements in Organizations written by Nicolas Tichy and published by BoD – Books on Demand. This book was released on 2023-03-14 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has inspired controversial debate in both academia and the general public, and many voices criticize that executive compensation designs fail to deliver desired outcomes. Although much research has been devoted to understanding the antecedents and consequences of executive compensation design, important questions remain unanswered. This dissertation contributes to the field by exploring a previously neglected aspect: executive compensation complexity. Given the absence of an established measure of executive compensation complexity, there is an incomplete understanding of how complexity enters executive compensation contracts and what the consequences are for managers and corporations. The essays of this dissertation aim to narrow this gap. The first study presents a novel measure of executive compensation complexity, which is validated and utilized to examine the antecedents of executive compensation complexity. The second study explores the consequences of executive compensation complexity and finds that complexity impairs firm performance, regardless of the performance metric chosen (accounting-based, market-based, or ESG-based performance metrics). The third study explores the link between compensation design dispersion and executive turnover and reveals that executives with riskier compensation packages and fewer performance goals are more likely to move. The fourth study provides experimental evidence on the effect of CSR Fit dimensions and organizational reputation. Taken together, the essays of this dissertation make a significant and valuable contribution to the scholarly discourse on executive compensation. By shedding light on the complex nature of executive compensation and its implications for managers and corporations, this dissertation advances the current understanding of executive compensation and provides insights for policymakers, managers, and investors.
Download or read book Essays on the Economic Consequences of Mandatory IFRS Reporting around the world written by Ulf Brüggemann and published by Springer Science & Business Media. This book was released on 2011-08-31 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ulf Brüggemann discusses and empirically investigates the economic consequences of mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS.
Download or read book Three Essays in Applied Game Theory written by Michael E. Conlin and published by . This book was released on 1995 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Schooling and Economic Development written by Yasuyuki Sawada and published by . This book was released on 1999 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Resurging Asian Giants written by Asian Development Bank and published by Asian Development Bank. This book was released on 2010-07-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the People’s Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world’s economic landscape, noted Chinese and Indian scholars have studied the two countries’ development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, the Asian Development Bank has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.
Download or read book Three Essays of Firm Productivity Technology Spillovers and Foreign Direct Investment written by Feng Liang and published by . This book was released on 2006 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Analysis and Infrastructure Investment written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2021-11-11 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy makers often call for increased spending on infrastructure, which can encompass a broad range of investments, from roads and bridges to digital networks that will expand access to high-speed broadband. Some point to the near-term macroeconomic benefits, such as job creation, associated with infrastructure spending; others point to the long-term effects of such spending on productivity and economic growth. Economic Analysis and Infrastructure Investment explores the links between infrastructure investment and economic outcomes, analyzing key economic issues in the funding and management of infrastructure projects. It includes new research on the short-run stimulus effects of infrastructure spending, develops new estimates of the stock of US infrastructure capital, and explores incentive aspects of public-private partnerships with particular attention to their allocation of risk. The volume provides a reference for researchers seeking to study infrastructure issues and for policymakers tasked with determining the appropriate level and allocation of infrastructure spending.
Download or read book Three Essays in Finance written by Jiang Luo and published by . This book was released on 2001 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Crisis in Government Accountability written by Dilip Mookherjee and published by Oxford University Press, USA. This book was released on 2004 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays In The Book Discusses The Importance Of And Challenges For The Second And Third-Generation Reforms In The Indian Economy. Areas Reviewed In Detail Are: Delivery System For Goods And Services Supplied By The Government; Tax-Collection; Legal Institutions; And Regulations Of Financial Sector. Has 7 Chapters Followed By A Useful Index.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Organizational Psychology written by Pieter Johan Diederik Drenth and published by Psychology Press. This book was released on 2000 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume four of a four volume set. This second edition has been extensively rewritten and should be of interest to both practitioners and students of organizational psychology.
