Journal articles on the topic 'Executives'
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1
Indjejikian, Raffi J., and Dhananjay (DJ) Nanda. "Executive Target Bonuses and What They Imply about Performance Standards." Accounting Review 77, no. 4 (October 1, 2002): 793–819. http://dx.doi.org/10.2308/accr.2002.77.4.793.
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We provide evidence that CEOs' and lower-level business unit executives' target bonuses are negatively associated with a proxy for measurement noise in accounting-based performance measures, and positively associated with proxies for firms' growth opportunities and the extent of executives' decision-making authority. Non-CEO executives' target bonuses are also positively associated with their CEO's target bonus. In addition, we compare executives' actual and target bonuses over two consecutive periods to draw inferences about how firms revise executives' performance standards. If firms adjust performance standards to fully reflect executives' past performance, then we expect an executive's chances of earning an above-target bonus to be independent of his past performance. We find evidence to the contrary; an executive is more likely to receive an above-target bonus if he received an above-target bonus in the prior year than if he did not. This suggests that firms do not adjust standards to fully reflect executives' past performance, consistent with agency-theoretic arguments that a firm can better motivate its executives if it discounts executives' past performance in setting their future compensation.
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Moore, James Hatch, and Zhongming Wang. "Passion in executive mentoring influences organizational innovativeness." Social Behavior and Personality: an international journal 46, no. 2 (February 2, 2018): 219–31. http://dx.doi.org/10.2224/sbp.6487.
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Mentoring is a popular resource for individual and organizational improvement. In this study we examined for the first time passion in executive mentoring as a potential approach to developing organizational innovativeness. In most previous studies the executives, for example, chief executive officers, were the mentors, but we took the opposite view, namely, the executives were the mentees. Results confirmed the hypotheses that the executive's perception of the mentor's passion was positively related to the executive's perception of organizational innovativeness, through the quality of mentoring and cognitive adaptability. Confirmatory factor analysis and regression analysis confirmed the validity of the results. Results demonstrated the value of passion in executive mentoring and the subsequent link to organizational innovativeness via the quality of mentoring and cognitive adaptability. Theoretical and managerial implications and directions for further research are discussed.
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Chang, Ya-Fen, Wei-Liang Tai, and Ka-Ho Fung. "Offline User Authentication Ensuring Non-Repudiation and Anonymity." Sensors 22, no. 24 (December 10, 2022): 9673. http://dx.doi.org/10.3390/s22249673.
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User authentication is the key to ensuring that only authorized users can deal with specific affairs and access services. Applications or systems possessing different properties or requirements need different authentication schemes. For example, some institutions or companies need executives to manage or inspect their corresponding departments while the inspected department should not know who the executives are but only can verify their legitimacy. This paper designs a non-repudiation and anonymity-ensured user authentication system to meet the mentioned special requirements. We also propose a user authentication scheme to ensure that the designed system can work as claimed. In the system, a department is equipped with an authentication device, namely the department authentication device, to authenticate an executive while the executive’s identity is not revealed to the department and only the department’s authentication device can identify the executive for non-repudiation. An executive is equipped with an authentication device to have himself/herself authenticated by the department’s authentication device. Moreover, authentication data stored in an executive’s authentication device does not need to be updated even when management personnel changes are made.
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Luo, Hong, Yongliang Zeng, Linyu Wan, and Yali Shen. "Executive heterogeneity, pay bandwagon, and earnings management." Nankai Business Review International 7, no. 4 (November 7, 2016): 426–50. http://dx.doi.org/10.1108/nbri-04-2016-0015.
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Purpose From the perspective of top management heterogeneity, this paper aims to study the impact of the psychological traits of executive pay bandwagon on earnings management in the listed companies of China. Design/methodology/approach This paper applies the ratio of executive pay to the median pay level of executives in firms of similar size and industry, namely, the comparing coefficient, as an alternative variable of executive pay bandwagon, and earnings management as the behavior choice of executive pay bandwagon, to examine whether executives in the listed companies of China have comparing mentality, and whether the result is influenced by executive heterogeneity by using the multiple linear regression models. Findings The lower the executives’ compensation is than the median pay level of executives in firms of similar size and industry, the stronger the incentive the executives have to compare with others whose pay is higher, increasing the extent of earnings management in the future, and executives tend to use real activities manipulation rather than accrual-based earnings management to increase their performance-based compensation. As pay bandwagon is a kind of executives’ individual psychological reaction, in a large extent, its behavioral performance is likely to be affected by executive heterogeneity. Specifically, when the proportion of male executives, young executives or low educated executives is relatively high, or executives are located in remote cities, there will breed more earnings management behaviors induced by pay bandwagon. Further study shows that pay bandwagon is positively correlated with rigging compensation based on real earnings management and pay bandwagon also has significantly negative effects on the firms’ future value creation. Research limitations/implications Pay bandwagon is an important inducement of executives’ earnings management, with implication that for executives with different characteristics, one should pay attention to the subjective psychological perception and expectation of their pay in the future studies related to executives’ compensation incentives. Originality/value This study introduces the research within sociology, psychology and experimental economics, and considers the executives’ subjective perception of their pay, to explore the internal mechanism that executives affect firm performance via a specific earnings management method and to implement self-interested behavior due to pay bandwagon. And this is the first study to select several typical executive individual characteristics to investigate the influence of executive heterogeneity on pay bandwagon and its economic consequences.
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Lauck, John R., Joseph R. Rakestraw, and Sarah E. Stein. "Do Audit Fees Reflect Unique Characteristics of Individual Executives?" Accounting Horizons 34, no. 4 (June 12, 2020): 105–24. http://dx.doi.org/10.2308/horizons-19-193.
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SYNOPSIS We examine whether audit fees reflect characteristics of individual executives incremental to known determinants of fees. Using a novel executive effects approach, we find that unexplained audit fees exhibit a statistically and economically significant association with executive effects after controlling for factors related to the firm and environment. Specifically, executive effects represent between 20 and 39 percent of the total variation in unexplained audit fees. Our tests also show only limited evidence that observable proxies are associated with the auditor's perception of an executive's style, which suggests that our analysis identifies unobservable traits that cannot be captured by typical measures in archival research (e.g., gender, age, educational background, and board membership). Collectively, our study highlights the importance of executive characteristics in the determination of audit fees and suggests that future research may benefit from additional consideration of individual executives' influence on the pricing of audit services. Data Availability: Data used in this study are available from public sources identified in the document.
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Phillips, Peter, and Julie Cotter. "The technostructure gap the educational qualifications of executive and non-executive directors." Corporate Ownership and Control 7, no. 4 (2010): 102–13. http://dx.doi.org/10.22495/cocv7i4p7.
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The purpose of this paper is to investigate the educational qualifications and experience of executive and non-executive members of directorial boards in Australia. Inspired by Galbraith’s (1967) analysis of the ‘technostructure’, we examine the educational qualifications of managerial (executive) directors and non-executive directors to assess the extent of divergences in the relevance (to the company’s operations) of executives’ and non-executives’ educational qualifications. In addition, we measure the ‘relatedness’ of executives’ and non-executives’ educational qualifications to determine the extent to which the set of educational qualifications of executive directors diverges from that of non-executive directors. We find significant differences in the relevance of the educational qualifications possessed by executives and non-executives. We also find very low relatedness between the two sets of educational qualifications. The advantages of board diversity on the one hand and the disadvantages that may attend potentially sub-optimal technical information flow on the other are discussed.
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Saputra, Willy Johan Widjaja. "Development of Executive Information System to Support Strategic Goals in Retail Company." Engineering, MAthematics and Computer Science (EMACS) Journal 1, no. 1 (August 31, 2019): 29–36. http://dx.doi.org/10.21512/emacsjournal.v1i1.5796.
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One way to present accurate and actual information to the executive is to use the Executive Information System. The Executive Information System is designed for executives who need information to monitor the situation and manage company management. Problems that may arise at this time are the lack of available information for executives because of geographical barriers, for example the distance between the head ofce and branches that are far apart or executives who often work out of the ofce so that they cannot monitor the company. This is because generally the Executive Information System that exists is only available and can be accessed from within the company environment so executives who are outside the company environment cannot access the Executive Information System to get the information needed. With the existence of an intranet-based Executive Information System, it is expected to cover the shortcomings of the Executive Information System which is not based on intranets. Information needed by executives is not only available in the corporate environment but is also available at a site that can be accessed by executives via the internet, so that executives can easily access information to monitor company performance and determine company management policies even though the executive in question is at outside the corporate environment, especially those related to marketing the company’s products. The system we built proved to be very effective in helping executives to control and monitor the company and make it easier to make decisions regarding company management.
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Carter, Mary Ellen, Francesca Franco, and İrem Tuna. "Matching Premiums in the Executive Labor Market." Accounting Review 94, no. 6 (February 1, 2019): 109–36. http://dx.doi.org/10.2308/accr-52393.
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ABSTRACT We study whether executives receive pay premiums for the uncertainty of their match with a new firm. Using changes in executive-firm matches from Execucomp, we document that executives receive significant attraction premiums when they move to new firms. These premiums vary with proxies that capture potential sources of uncertainty about the quality of the match, and are incremental to pay for managerial talent, generalist ability, industry turnover risk, and potential additional costs incurred by the new employer to attract the executive to the firm, such as payments for forfeited equity and relocation costs. Consistent with compensation for uncertainty of fit, we find that the premiums decrease with the executive's tenure at the new firm, as the uncertainty about the executive-firm match is resolved over time. Our findings raise the possibility that attraction premiums are an additional cost of executive turnover and may contribute to the overall rise in executive pay. JEL Classifications: J24; J33; M12; M52. Data Availability: Data are available from sources cited in the text.
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Saban, Kenneth Albert, Stephen Rau, and Charles A. Wood. "“SME executives’ perceptions and the information security preparedness model”." Information & Computer Security 29, no. 2 (March 29, 2021): 263–82. http://dx.doi.org/10.1108/ics-01-2020-0014.
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Purpose Information security has increasingly been in the headlines as data breaches continue to occur at alarming rates. This paper aims to propose an Information Security Preparedness Model that was developed to examine how SME executives’ perceptions of security importance, implementation challenges and external influences impact their awareness and commitment to security preparedness. Design/methodology/approach Funded by the Department of Justice, a national survey of SME executives’ perceptions of information security preparedness was conducted. Using PLS-SEM, the survey responses were used to test the proposed Information Security Preparedness Model. Findings The results indicate that as perceptions of security importance and external influences increase, SME executives’ awareness and commitment to information security also increases. In addition, as implementation challenges increase, awareness and commitment to information security decreases. Finally, as security importance and awareness and commitment to information security increases, executives’ perception of security preparedness also increases. Research limitations/implications Executive perceptions of information security were measured and not the actual level of security. Further research that examines the agreement between executive perceptions and the true state of information security within the organization is warranted. Originality/value Prior information security studies using Roger’s (1975, 1983) Protection Motivation Theory have produced mixed results. This paper develops and tests the Information Security Preparedness Model to more fully explain SME executive’s perceptions of information security.
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Okafor, Collins E., and Nacasius U. Ujah. "Executive compensation and corporate social responsibility: does a golden parachute matter?" International Journal of Managerial Finance 16, no. 5 (April 2, 2020): 575–98. http://dx.doi.org/10.1108/ijmf-12-2018-0379.
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PurposeThis study examines the efficacy of compensation in encouraging corporate executives to promote corporate social responsibility (CSR). In particular, it closely examines the effect of a golden parachute (GP) on an executive's behavior toward CSR.Design/methodology/approachThis study uses longitudinal data on 1,301 US firms for the period from 1993 to 2013. The data comes from Compustat, MSCI ESG STATS, RiskMetrics and ExecuComp.FindingsWe find an inverse association between current and long-term compensations and GP on firms' CSR. However, a test on the moderating effect discloses that a GP and long-term compensation jointly and positively increase the firms' CSR performance. This increase supports the idea that executives with a GP seek to maximize their long-term wealth by approving CSR projects that add value. The results also show that female executives are more likely to promote CSR than their male counterparts, and older executives are less willing to engage in CSR projects.Practical implicationsAdding a GP contractual clause to the executive compensation package could encourage greater engagement in CSR projects. The CEO with a GP will ensure that the firm engages in only value-enhancing CSR projects; this should align the interest of the society (greater firm engagement in CSR) with the interest of the firm (value maximization).Originality/valueThis study contributes to the literature by examining the moderating effect of a GP on the association between CSR and executive compensation.
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Yu, Lina, and Hua Zhao. "Estimation of bargaining effect in the decision of monetary compensation of executive in investment bank: Evidence from China." PLOS ONE 18, no. 3 (March 30, 2023): e0283771. http://dx.doi.org/10.1371/journal.pone.0283771.
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Though numerous empirical and theoretical studies have been conducted on the determinants and effects of executive compensation, empirical evidence regarding the bargaining effect on the monetary compensation decisions of executives, especially in a large emerging economy such as China, remains scarce. In this study, a two-tier stochastic frontier and endogenous correction model was developed to quantitatively estimate the bargaining effect on the monetary compensation decisions of investment bank executives. Our study is the first to provide comprehensive empirical evidence that bargaining between investment banks and executives in China significantly affects the compensation decisions of executives. In the bargaining process, investment banks are more proficient than executives, and the comprehensive bargaining effect tends to lower the negotiated compensation of executives. The bargaining effect exhibited obvious heterogeneity in the characteristics of executives and investment banks. When these characteristics tend to augment the bargaining power of executives, the negotiated compensation exhibits a limited decrease; when these characteristics augment the bargaining power of investment banks, the negotiated compensation decreases substantially. Our results provide deep insight into factors that determine executive compensation and help compensation designers of investment banks better understand and design executive pay packages.
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Webb, Peter J. "Back on track: The coaching journey in executive career derailment." International Coaching Psychology Review 1, no. 2 (November 2006): 68–74. http://dx.doi.org/10.53841/bpsicpr.2006.1.2.68.
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Executive career derailment seems to coincide with one of the most significant transitions in life – the midlife ‘crisis’. Career derailment is most commonly caused by insensitivity; both to others needs and to the individuals own developmental needs for authenticity. Executive coaches can form strong developmental relationships with derailed executives through engaging them in the behaviours of individuation and supporting the development of a more authentic self. Coaching is conceptualised as a ‘U-shaped’ journey exploring 5 levels of meaning: (1) the executive’s environment; (2) the executive’s behaviour; (3) attitudes, (4) deep structure of the person; and (5) deepest structure.
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Kalelkar, Rachana, and Qiao Xu. "Different tenure phases of executives and audit fees." Review of Accounting and Finance 20, no. 5 (October 20, 2021): 298–325. http://dx.doi.org/10.1108/raf-08-2020-0232.
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Purpose The authors investigate whether the different tenure phases of executives have a differential effect on audit pricing. Two alternate views – career concern and power – can explain the effect of executives’ tenure on audit pricing. This paper aims to determine, which viewpoint dominates in explaining the relationship between audit pricing and executive tenure phases. Design/methodology/approach Using a sample of 11,198 firm-year observations from 2007 to 2016, the authors adopt an ordinary least squares regression model to assess the impact of the middle and long phases of executives’ tenure on audit fees. Findings Audit fees are significantly lower when executives enter the middle and long phases of tenure. The reduction in audit fees is greatest as both chief executive officers and chief financial officers enter the long tenure phase. Although audit fees gradually decrease as executive tenure is extended, they start increasing two years before the end of executive tenure. Furthermore, the negative association between the executive tenure phase and audit fees is greater when the executive is appointed externally. Finally, the long phase of executive tenure also mitigates the positive relationship between audit fees and internal control weaknesses. Research limitations/implications This study is based on US data. Future research may extend this study to other countries. Practical implications The findings are important to firms, practitioners and academicians, particularly, as the length of tenure of top executives has increased in recent years. By documenting that executives’ middle and long tenure phases reduce audit fees, the findings highlight the importance of maintaining executives in the firm. Finally, the findings have implications for investors, policymakers and auditors to identify companies with high audit risk. Originality/value This study is the first to document the impact of executives’ middle and long tenure phases on audit fees.
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Kuna, Shani. "All by Myself? Executives’ Impostor Phenomenon and Loneliness as Catalysts for Executive Coaching With Management Consultants." Journal of Applied Behavioral Science 55, no. 3 (March 13, 2019): 306–26. http://dx.doi.org/10.1177/0021886319832009.
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The scholarly literature regarding executive consulting relationships, typically labeled as executive coaching, tends to focus on the issue of its effectiveness. The fundamental question regarding executives’ desire to engage in this kind of intervention, whose benefits are considered ambivalent, has been mostly overlooked. Addressing this theme was the purpose of this exploratory study, in which in-depth interviews were conducted with 46 Israeli executives. Despite the executives’ explanation of executive coaching in rational terms of knowledge acquisition, the findings shed light on two phenomena that, surprisingly, have received limited attention: executive loneliness and impostorism. These intertwined experiences have been executives’ implicit catalysts for seeking help from management consultants. The study highlights the significant role of executive coaching as a means of emotional support for executive impostorism and loneliness. A major implication is the importance of providing managers promoted to senior positions with preparation for the emotional distress associated with their role.
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Dyreng, Scott D., Michelle Hanlon, and Edward L. Maydew. "The Effects of Executives on Corporate Tax Avoidance." Accounting Review 85, no. 4 (July 1, 2010): 1163–89. http://dx.doi.org/10.2308/accr.2010.85.4.1163.
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ABSTRACT: This study investigates whether individual top executives have incremental effects on their firms’ tax avoidance that cannot be explained by characteristics of the firm. To identify executive effects on firms’ effective tax rates, we construct a data set that tracks the movement of 908 executives across firms over time. Results indicate that individual executives play a significant role in determining the level of tax avoidance that firms undertake. The economic magnitude of the executive effects on tax avoidance is large. Moving between the top and bottom quartiles of executives results in approximately an 11 percent swing in GAAP effective tax rates; thus, executive effects appear to be an important determinant in firms’ tax avoidance.
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Rickley, Marketa. "Cultural Generalists and Cultural Specialists: Examining International Experience Portfolios of Subsidiary Executives in Multinational Firms." Journal of Management 45, no. 2 (April 11, 2018): 384–416. http://dx.doi.org/10.1177/0149206317748745.
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On the basis of the observation that today’s executives increasingly possess significant international experiences, this study of foreign subsidiary executive staffing strategies looks beyond the local/expatriate dichotomy and shifts the theoretical and empirical focus from executive nationality to a more nuanced examination of subsidiary executives’ international experience portfolios. The intended contribution of this study is to explore the relationship between home country–host country institutional differences and the quantity and quality of subsidiary executives’ previous international experience. I draw on executive cognition theory and the literature on international experience to hypothesize that variety and specificity of previous educational and professional international experiences facilitate subsidiary executives’ abilities to manage liabilities of foreignness arising from institutional distance. The findings indicate a positive relationship between home country–host country institutional distance and the presence of subsidiary executives with higher duration, count, and variety of international experiences. However, the findings provide no statistical evidence of higher levels of institutional distance being associated with a higher presence of subsidiary executives with specific international experiences that are relevant to the home country–host country pair.
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Rautenbach, Rene, Margie Sutherland, and Caren B. Scheepers. "The process by which executives unlearn their attachments in order to facilitate change." African Journal of Employee Relations (Formerly South African Journal of Labour Relations) 39, no. 2 (February 19, 2019): 145–64. http://dx.doi.org/10.25159/2520-3223/5876.
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Unlearning an attachment has become a critical change competence for executives. Although attachment behaviour in the workplace is ubiquitous, there is a scarcity of empirical research on the processes executives follow in order to release their dysfunctional attachments to systems, routines, ideas, divisions and certain members of staff. By unlearning attachments, executives can embrace new concepts, methods and processes and thereby enable their organisations to be more competitive. This qualitative research investigated executives’ experiences of unlearning an attachment, through the pre-unlearning, unlearning and post-unlearning phases. A de jure model was formulated from concepts that emerged during the literature review and this model was the basis of in-depth interviews with 10 change experts and 10 executives who had unlearned attachments. The executives and change experts shared real-life experiences during each of the unlearning phases. The findings informed a de facto model of the experiences of executives unlearning their attachments. This process model makes a theoretical contribution by depicting the major types of attachments, influences on, processes of, actions required by and outcome of the executives’ unlearning. The model should contribute to change practitioners’ facilitation of executives’ unlearning processes and executives’ insights into their own attachments.
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Rautenbach, Rene, Margie Sutherland, and Caren B. Scheepers. "The process by which executives unlearn their attachments in order to facilitate change." African Journal of Employee Relations 39, no. 2 (February 19, 2019): 145–64. http://dx.doi.org/10.25159/2664-3731/5876.
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Unlearning an attachment has become a critical change competence for executives. Although attachment behaviour in the workplace is ubiquitous, there is a scarcity of empirical research on the processes executives follow in order to release their dysfunctional attachments to systems, routines, ideas, divisions and certain members of staff. By unlearning attachments, executives can embrace new concepts, methods and processes and thereby enable their organisations to be more competitive. This qualitative research investigated executives’ experiences of unlearning an attachment, through the pre-unlearning, unlearning and post-unlearning phases. A de jure model was formulated from concepts that emerged during the literature review and this model was the basis of in-depth interviews with 10 change experts and 10 executives who had unlearned attachments. The executives and change experts shared real-life experiences during each of the unlearning phases. The findings informed a de facto model of the experiences of executives unlearning their attachments. This process model makes a theoretical contribution by depicting the major types of attachments, influences on, processes of, actions required by and outcome of the executives’ unlearning. The model should contribute to change practitioners’ facilitation of executives’ unlearning processes and executives’ insights into their own attachments.
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Ayranci, Evren, and Tamer Gurbuz. "Considering Glass Ceiling in Turkey: Ideas of Executives in Education Sector Regarding Women in the Workplace." International Journal of Human Resource Studies 2, no. 4 (November 18, 2012): 126. http://dx.doi.org/10.5296/ijhrs.v2i4.2583.
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The purpose of this study is to determine, taking the “glass ceiling” into account, which factors contribute to the ideas of top education executives regarding women in the workplace and to identify whether these ideas vary depending on the executives’ demographic profile. This research included top state high school executives from Istanbul. An important conclusion was that the participants took into consideration only the “executive” qualities of the women in their workplace. In other words, they were already thinking about women in executive positions when participating. The participants had positive opinions regarding female executives and thoughts on the ability of female executives to create a balance between home and work. To a significant extent, these ideas varied depending on the participants’ gender. When considering the participants’ number of children, the ideas also generated differences. Age and marital status did not influence the participants’ ideas about female executives.
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Liebowitz, Jay, Yolande Chan, Tracy Jenkin, Dylan Spicker, Joanna Paliszkiewicz, and Fabio Babiloni. "If numbers could “feel”: How well do executives trust their intuition?" VINE Journal of Information and Knowledge Management Systems 49, no. 4 (November 11, 2019): 531–45. http://dx.doi.org/10.1108/vjikms-12-2018-0129.
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Purpose In the business and data analytics community, intuition has not been discussed widely in terms of its application to executive decision-making. However, the purpose of this paper is to focus on new global research that combines intuition, trust and analytics in terms of how well C-level executives trust their intuition. Design/methodology/approach Our Fulbright research, as described in this paper and performed by colleagues from the United States, Canada, Poland and Italy, examines executives’ as well as other less experienced employees’ preferences for different types of intuition versus data analysis. This study set out to better understand the degree to which executives prefer intuition versus analysis and the relationship between these approaches to decision-making. Our research combines elements of a review, a cross-cultural/cross-company survey study and a biometrics study in interoception. The research team has a multidisciplinary background in business, information technology, strategy, trust management, statistics and neuroscience. Findings Based on our research, the main findings are as follows. The use of and preference for intuition types change as employees gain more experience. However, there may be intuition styles that are more static and trait-like, which are linked to roles, differentiating managers from leaders. Using “inferential intuition” and “seeing the big picture” go hand in hand. Listening to your body signals can promote improved intuition. Cross-cultural differences may impact executive decision-making. Executives often prefer to use their intuition over analysis/analytics. Research limitations/implications This research could be expanded to have a larger sample size of C-level executives. We had 172 responses with 65% C-level executives and 12% directors. However, a recent survey by the Economist Intelligence Unit on intuition used by executives had a sample of 174 executives around the world, which is comparable with our sample size. Practical implications From our research, executives should continue to apply their experiential learning through intuition to complement their use of data in making strategic decisions. We have often discounted the use of intuition in executive decision-making, but our research highlights the importance of making it a critical part of the executive decision-making process. Originality/value Based on the results of our survey and biometrics research, executives apply their intuition to gain greater confidence in their decision-making. Listening to their body signals can also improve their intuitive executive awareness. This complements their use of data and analytics when making executive decisions.
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McKibben, Heather Elko, and Shaina D. Western. "‘Reserved Ratification’: An Analysis of States’ Entry of Reservations Upon Ratification of Human Rights Treaties." British Journal of Political Science 50, no. 2 (March 9, 2018): 687–712. http://dx.doi.org/10.1017/s0007123417000631.
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Governing elites often ratify human rights treaties, even when their policies do not align with those treaties’ obligations. This article argues that this can be explained by the fact that executives anticipate the potential challenges these treaties could raise vis-à-vis their domestic policies and enter different types of reservations when they ratify to head them off. The types of reservations they use depend on key characteristics of the executive’s policies and practices, as well as its relationship with the legislative and judicial branches. Domestic actors can raise different types of challenges against the executive depending on variations in these key factors. The types of reservations executives use will therefore vary depending on the specific challenges ratification raises for them. Using an original dataset of the reservations states entered on human rights treaties registered with the United Nations, and employing an event history analysis, this study shows that the particular challenges treaties present for executives in different types of states help explain variation in how they use reservations when they ratify human rights treaties.
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Gill, Suveera, and Manika Kohli. "Perceptual Determinants of Executive Compensation: Survey-Based Evidence from India." Indian Journal of Corporate Governance 11, no. 2 (October 8, 2018): 159–84. http://dx.doi.org/10.1177/0974686218797760.
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Ensuring effective and fair determination of executive compensation is complex, though equally essential for protecting the interests of shareholders and in creating long-term corporate value. The present study attempts to unravel the perceptions of executives and investors in terms of the determinants on which executive compensation ought to be based in the context of corporate India. The main research instrument is a quantitative questionnaire through which the responses of 74 top executives and 55 investors have been examined. Results highlight statistically significant mean differences in the perception of executives and investors with regards to the determinants of executive compensation. Further, the underlying dimensions representing pay determinants vary for executives and investors with the former regarding corporate governance and human capital as important, while the latter emphasising on the primacy of ownership and leverage. The article offers valuable insight as it proposes a comprehensive set of determinants of executive compensation by integrating multiple theoretical perspectives.
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Roessle, Felix, Carolin Fleischmann, and Kathrin Roessle. "Gender diversity and financial performance in executive positions in German companies." Problems and Perspectives in Management 22, no. 2 (June 12, 2024): 571–81. http://dx.doi.org/10.21511/ppm.22(2).2024.44.
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An underrepresentation of women in executive positions has persisted for decades. This paper aims to analyze the financial impact of women in executive positions in German companies by examining the economic value added and exploring the effects of Environmental, Social, and Governance (ESG) factors and female supervisory board members on female board members. The results indicate that in the 200 largest German companies, the share of female executives increased between 2018 and 2022. Regardless of industry, female executives started at very low levels at around 4% in 2018; in 2022, this figure reached around 11%. Thereby, the financial sector showed the highest share of female executives at around 14% in 2022, and the industrial sector at around 9%. A closer look reveals that large companies have higher shares of female executives than smaller companies. Large companies show an average of 17% compared to small ones, and in 2022, only 8%. There is a positive correlation between the share of female supervisory board members and female executives, arguing that female supervisory board members seem to hire more female executives. Companies with more female executives tend to have lower ESG controversy scores, and companies with more female executives, measured by the economic value added, perform better financially than companies with few or no women. Companies with female executives show about 2 percentage points higher economic value added than those with the lowest share of females (no or few female executives). Thus, it seems that female executives matter and make a difference in companies.
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Shair-Rosenfield, Sarah, and Alissandra T. Stoyan. "Gendered Opportunities and Constraints: How Executive Sex and Approval Influence Executive Decree Issuance." Political Research Quarterly 71, no. 3 (January 5, 2018): 586–99. http://dx.doi.org/10.1177/1065912917750279.
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Do female executives exercise the authority of their office distinctly from their male counterparts? Anecdotal evidence suggests women legislators are likely to govern in a more consensual manner than men. Yet there has been little systematic research extending such claims to women in executive office. Using an original data set, we evaluate one aspect of policy agenda setting—rates of executive decree issuance—among four male–female pairs of Latin American presidents between 2000 and 2014. Female presidents are generally less prone to rule by decree, but this relationship is conditioned by presidential popularity. Female executives with high presidential approval ratings are less likely to rule via unilateral action than similarly popular male executives, but the gendered differences in decree issuance disappear when executives possess low approval ratings. Our findings have implications for understanding the potential benefits of feminine leadership styles for executive–legislative relations and good governance.
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Mani, Bonnie G. "Gender and the Federal Senior Executive Service: Where is the Glass Ceiling?" Public Personnel Management 26, no. 4 (December 1997): 545–58. http://dx.doi.org/10.1177/009102609702600411.
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Approximately half of federal civil servants are female but only 13 percent of federal executives are. This analysis of data from a random sample of federal Senior Executive Service (SES) members seeks to explain the disparity and to develop strategies for facilitating women's upward mobility. The author analyzes variables which were analyzed in prior studies of executives in state government and concludes that the glass ceiling is not universal. Unlike studies of executives in state government, federal civil service procedures affected the career advancement of males and females similarly. Like studies of executives in state government, there are many similarities between the male and female SES members' knowledge, abilities, skills, and leadership styles suggesting that those who were dissimilar were barred from executive ranks.
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Han, Li, and Han-Hsing Yu. "An empirical study from Chinese energy firms on the relationship between executive compensation and corporate performance." Nurture 17, no. 3 (July 6, 2023): 378–93. http://dx.doi.org/10.55951/nurture.v17i3.356.
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Purpose: This study investigates the relationship between executive compensation and firm performance in Chinese new energy companies.
Design/Methodology/Approach: The financial data of 122 Chinese-listed energy companies from 2010-2021 is selected for the empirical study.
Findings: Executives' monetary compensation and executives' shareholding ratio are positively related to corporate performance. Overseas background and financial background play a moderating role in the effect of executives' monetary compensation and their shareholding ratio on corporate performance.
Conclusion: The fact that executives' salaries and shareholding both have a significant positive impact on business performance demonstrates the effectiveness of pay incentives and equity-based incentive. The research additionally demonstrates that an executive's financial knowledge and experience in other countries alter the impact of cash and equity pay on company performance.
Research Limitations/Implications: The research excludes a large number of key energy businesses, especially rising ones in the clean energy sector, as it solely targets publicly traded businesses for ease of data collection.
Practical Implications: The survey results help to further understand the key factors of compensation incentives for managers in energy companies and are informative for the effectiveness of compensation incentives in energy companies.
Contribution to Literature: This study provides empirical results on the impact of managerial compensation on firm performance in energy firms in the Chinese context, adding a new step to the existing literature.
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Chen, Yunzhi. "Does the Average Age of Executives Affect the ESG Performance of Enterprises?" Highlights in Business, Economics and Management 24 (January 22, 2024): 2208–13. http://dx.doi.org/10.54097/g5208123.
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In today's global business environment, the importance of ESG has been widely recognized globally. This article uses data from 4578 A-share listed companies from 2015 to 2021 to study the impact of the average age of executives on ESG performance. The results show that the average age of executives is significantly positively correlated with ESG performance. For the three specific aspects of ESG, as the average age of executives increases, the performance of environmental (E) and social (S) also shows a better trend, but the performance of corporate governance level (G) is worse. This study suggests that companies should attach importance to the diversity of their executive teams, establish continuous training mechanisms, and develop clear ESG strategies and goals. This study provides more accurate guidance for enterprise decision-making, ESG management, and executive selection, and helps companies select and cultivate executives more accurately to ensure that the executive team is aligned with the company's ESG goals.
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Madsen, Peter M., and John B. Bingham. "A Stakeholder–Human Capital Perspective on the Link between Social Performance and Executive Compensation." Business Ethics Quarterly 24, no. 1 (January 2014): 1–30. http://dx.doi.org/10.5840/beq2014254.
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ABSTRACT:The link between firm corporate social performance (CSP) and executive compensation could be driven by a sorting effect (a firm’s CSP is related to the initial levels of compensation of newly hired executives), or by an incentive effect (incumbent executives are rewarded for past firm CSP). Existing empirical work focuses exclusively on the incentive effect. In contrast, in this paper we explore the sorting effect of firm CSP on the initial compensation of newly hired executives. In doing so, we develop a novel theoretical approach based on an integration of stakeholder theory and human capital theory, suggesting a positive association between the initial compensation of executives and firm CSP strengths and concerns. It also suggests that the strength of this relationship varies between different executive roles (as a function of stakeholder-management responsibilities). We find support for this theoretical framework in a large sample of newly-hired executives employed by Standard & Poor 1500 firms.
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Nik Mohd Rosli, N. R, Huda, F. H., Ahmad Fadzillah, and Yzh-Y Hashim, Ahmad, A. N. "Conceptual Core Competency Model for Halal Executives in Food Manufacturing Companies." Journal of Halal Science and Technology 1, no. 1 (June 22, 2022): 1–14. http://dx.doi.org/10.59202/jhst.v1i1.450.
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A competent halal executive is essential and an integral part of the Halal Management System in Halal-certified companies. Core competencies in general are linked with job productivity, job performance, and organisational performance. In Malaysia, initiatives are currently underway to produce competent and professional Halal executives. As for now, the competencies of halal executives are yet to be defined. Defining and identifying the core competencies is pivotal as the Malaysian Halal industry needs to appoint more competent halal executives to serve the halal-certified companies. Thus, this article aims to identify the set of competencies for halal executives via a literature review. This would allow for the further development of the Halal executive core competencies conceptual model. In addition, the background of Halal executives in the Malaysian Halal industry is also discussed to provide context for this review article. The conceptual model proposed is useful in discussing and developing the idea of core competencies, especially in the halal manufacturing industry context. A comprehensive core competencies model is useful for preparing future halal executives, evaluating halal executives' practises in the workplace, and for their lifelong professional development. Other countries could use the same core competencies framework to inform the development of the human resource related to Halal.
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Rong, Xing, Bingjie Song, Tingting Zhang, and Kai Liu. "Home Bias and Corporate Environmental Social Responsibility." Sustainability 13, no. 11 (May 23, 2021): 5860. http://dx.doi.org/10.3390/su13115860.
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This paper analyzes the impact of executives’ hometown identification on corporate environmental social responsibility (CESR) using a sample of Chinese A-share-listed companies from 2007 to 2018. It finds that: the CESR scores of companies are higher when executives work in their hometowns, indicating that executives’ hometown identification significantly improves the fulfillment of CESR; mechanism tests show that the above relationship is more significant in regions with superior environmental quality, indicating that executives take CESR more seriously in their hometowns more due to social pressure; further tests found that executive characteristics, such as executive type and age, have a regulating effect on this relationship. In addition, the nature of property rights of listed companies also affects executives’ hometown identification. Executives of state-owned enterprises have a stronger hometown identification, which enhances the fulfillment of CESR to a higher extent. In the context of the micro level of the enterprise, this paper provides positive evidence that an informal system, named as “hometown identity”, can enhance the performance of CESR and the pressure effect implicitly behind the social network, which enriches and expands the research related to CESR fulfillment.
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Lather, Anu Singh, and Sangeeta Mohan. "A Comparative Study of Executive and Non-Executive Associates of Delhi Metro Rail Corporation for Their Level of Commitment and Personal Efficiency." Vision: The Journal of Business Perspective 11, no. 4 (October 2007): 13–20. http://dx.doi.org/10.1177/097226290701100402.
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Present research was designed to study the level of commitment and personal efficacy amongst the associates of Delhi Metro Rail Corporation (DMRC) and also to understand the relationship between these two variables. Data was collected from 50 executives and 50 non-executives of DMRC. For this purpose, Organisational Commitment Instrument (OCI) and Personal Efficacy Test was administered individually to all employees. Chi-Square was applied to see the level of commitment and personal efficacy of executives and non-executives. The results were analysed using Chi–square test Pearson Product Moment correlation. The Chi–square results of commitment are shown in Table 1. The results revealed that Chi–square for commitment was 35.78, which was significant at 0.01 level. The comparison of results of executive and non–executive associates showed that large number of executive associates (n = 27) where highly committed, moderate number of employees (n = 15) fell into medium commitment range and few (n = 8) were low committed executives. The results were almost reverse in case of non–executive employees. There was only one employee from nonexecutive group who showed high level of commitment. Majority of this group was either moderately committed (n =22) or low on commitment (n = 27). The comparison of results on personal efficacy between executive and non-executive employees showed a Chi–square value of 27.01 significant at 0.01 level. The results reflect that the executive employees showed high personal efficacy (n =27), medium personal efficacy (n = 17) and few showed low personal efficacy (n = 6). The reverse trend was seen with the nonexecutive employees. Majority of employees showed low personal efficacy (n = 25) and medium personal efficacy (n = 20). There were only 5 non executive employees who showed high personal efficacy. The correlation coefficient of commitment with personal efficacy (n–100) came out to be 0.324 significant at 0.001 level.
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Sanoran, Kanyarat (Lek). "Lessening Effects of SOX on the Relationship between Executive Compensation Components and Cost of Equity Capital." International Journal of Financial Studies 10, no. 3 (July 17, 2022): 56. http://dx.doi.org/10.3390/ijfs10030056.
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The Sarbanes–Oxley Act of 2002 (SOX) imposed stringent requirements on corporate executives to hold them more accountable for their management decisions. This act has ramifications for executive pay as well. This study investigates the lessening effects of SOX on the association between executive compensation and cost of equity capital. The regression analyses are based on 11,649 firm-year observations of publicly listed companies in the United States from 1998 to 2014. The results show that bonuses and shareholdings are associated with a lower cost of equity capital, while the stock options are not related to the cost of equity capital. In addition, the findings indicate that SOX weakens the association between the cost of equity capital and executive bonuses, stock options for all top five executives. However, SOX lessens the association between the cost of equity capital and shareholdings, only for the three non-CEO and non-CFO executives. This is the first study to investigate how the change in regulatory environment invoked by SOX impacts the association between executive compensation and cost of equity capital. Moreover, this study examines the impacts on all top five highly paid executives and focuses on the three components of executive compensation that are involved with SOX.
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Fang, Shuai. "Homophily Exclusion or Homophily Preference? The Influence of the Executive Identity of Nonexecutive Directors on the Focal Firm Executive Pay and Ordinary Employee Pay." Journal of Systems Science and Information 7, no. 6 (December 18, 2019): 550–67. http://dx.doi.org/10.21078/jssi-2019-550-18.
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Abstract The occupational identity of nonexecutive directors exerts a considerable influence on their way of designing and distributing executive pay as well as ordinary employee pay in the focal firm. Integrating the status characteristics theory into the corporate governance literature, I theorize that status contest effect comes into play in the process of setting executive pay in the focal firm, specifically when its nonexecutive directors serve as executives on stakeholders. More often than not, such executive identity triggers the status competition with focal firm executives, which motivates nonexecutive directors to reduce the focal firm executive pay so as to secure and aggrandize their own status within the focal firm. However, since ordinary employees pose no threat to nonexecutive directors in the focal firm, they tend to increase ordinary employee pay. Basing upon the empirical test which adopts the data of China’s Shanghai and Shenzhen A-share listed firms, I find that the greater the focal firm’s nonexecutive director ratio, the less will be the top executives’ pay in the focal firm; the greater the focal firm’s nonexecutive director ratio, the greater will be ordinary employees’ pay in the focal firm; the greater the focal firm’s nonexecutive director ratio, the smaller will be the pay gap between top executives and ordinary employees in the focal firm. In addition, I also find that ownership power and gender can moderate the relationship between nonexecutive director ratio and executive pay: top executive ownership can alleviate the negative relationship between focal firm’s nonexecutive directors and top executives’ pay; female nonexecutive directors are more likely to increase focal firm’s ordinary employee pay than their male counterparts.
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Cho, Eunho, and Yuan Yuan. "Executive Education, Gender, And Firm Performance: Evidence From China." Journal of Applied Business Research (JABR) 37, no. 6 (November 1, 2021): 195–204. http://dx.doi.org/10.19030/jabr.v37i6.10394.
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We explore the relationship between the education and gender of executives and firm performance using mainland China firm data. We find that executive education is positively associated with a firm’s market performance. However, this positive relationship is not moderated by executives’ gender. Our research result is consistent with the existing literature that firm market value increases with executive education, and that executive gender does not matter in terms of the relationship between higher education and firm performance.
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Hoe, Siu Loon, and Tamsin Greulich-Smith. "Using role play to develop an empathetic mindset in executive education." Industrial and Commercial Training 54, no. 1 (October 27, 2021): 145–51. http://dx.doi.org/10.1108/ict-03-2021-0020.
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Purpose The purpose of this paper is to discuss the importance of a role play activity as part of an experiential instructional strategy to develop an empathetic mindset among professionals, managers and executives attending an executive education program in change management. Design/methodology/approach This paper provides an approach and process for management educators and facilitators of executive education programs to introduce and teach role play for the busy executives to learn about empathy. Findings Role play is a useful teaching method that helps adult learners understand the importance of seeing things from another person’s point of view especially within a short period of time. Practical implications Management educators and facilitators could introduce and teach role play for the busy executives to learn about empathy based on the proposed approach and process in this paper. Originality/value This paper provides an approach and process for management educators and facilitators of executive education programs to introduce and teach role play for the busy executives to learn about empathy especially within a short a period of time.
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Rao, M. S. "Grooming management graduates as leaders, entrepreneurs and chief executives." Human Resource Management International Digest 23, no. 7 (October 12, 2015): 27–30. http://dx.doi.org/10.1108/hrmid-07-2015-0128.
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Purpose – Prepares management graduates to become leaders, entrepreneurs and chief executives. Design/methodology/approach – Offers leadership lessons based on the career of Jack Welch, former Chief Executive and Chairman of General Electric. Findings – Shows that becoming a chief executive requires consistent and persistent effort. Practical implications – Shows that the lessons can be applied in any industry to prepare management graduates as leaders, entrepreneurs and chief executives. Social implications – Shows how to groom management graduates as successful leaders, entrepreneurs and chief executives. Originality/value – Highlights what business schools do not teach. Emphasizes the importance of both classroom learning and corporate experience. Outlines tools and techniques to fast-track a career.
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Bova, Francesco, Kalin Kolev, Jacob K. Thomas, and X. Frank Zhang. "Non-Executive Employee Ownership and Corporate Risk." Accounting Review 90, no. 1 (July 1, 2014): 115–45. http://dx.doi.org/10.2308/accr-50860.
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ABSTRACT Prior research documents a negative link between risk and executive holding of stock, but a corresponding positive link for options. We find a similar negative relation for non-executive holding of stock. Our finding is consistent with the view that non-executives not only face significant incentives to reduce risk when they hold stock, but they are also able to affect corporate risk. While endogeneity cannot be ruled out fully, the results of a battery of tests suggest that it plays a limited role. A second robust result is that the documented relation becomes more negative as option-based executive compensation increases. Overall, corporate risk is related to the incentives created by stock and options held by both executives and non-executives, as well as interactions among those incentives. JEL Classifications: G30.
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Key, Thomas Martin, and Astrid Lei Keel. "How executives talk." European Journal of Marketing 54, no. 3 (January 31, 2020): 546–69. http://dx.doi.org/10.1108/ejm-01-2019-0105.
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Purpose This paper aims to explore how chief executive officers (CEOs) and C-suite marketing executives (chief marketing officers [CMOs], chief customer officers [CCOs], chief branding officers [CBOs], etc.) talk about marketing concepts to better understand how marketers can more effectively articulate their value and increase their strategic influence within the firm. Design/methodology/approach Artificial intelligence-enabled computerized text analysis was used to identify and weight keywords from 266 CEO and C-suite marketing executive interviews. Custom marketing concept dictionaries were used to gauge overall marketing focus. Findings The analysis revealed opportunities for C-suite marketers to align specific marketing concepts with that of CEOs for increased strategic influence. Comparisons between C-suite marketing roles showed that CMOs are more focused on marketing strategy than specialized C-suite marketing positions, such as CCO and CBO. This points to a potential decrease in strategic impact for marketing executives dependent on the specialization of their position. Research limitations/implications Using IBM Watson’s black-box artificial intelligence may limit the ability to replicate results from the content analysis; however, the results identify important ways that marketing executives can use to increase their ability to articulate their value within the firm. Practical implications C-suite marketing executives who want to increase the strategic alignment of their role with their firm must pay close attention to the marketing concepts they talk about, and how those align with their CEO’s marketing knowledge. The creation of specialized C-suite marketing roles may unintentionally limit the strategic thinking and firm-level impact of marketers. Originality/value This paper represents the first use of artificial intelligence-enabled computerized text analysis to explore and compare executive speech acts to help increase marketing’s influence in the firm. It is also the first to explore differences in marketing concept use between C-suite marketing roles.
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Zhang, Liyan, and Chengzi Cao. "Control Power of Senior Executive, Business Environment and Entrepreneurship." International Journal of Sustainable Development and Planning 15, no. 7 (November 13, 2020): 1127–36. http://dx.doi.org/10.18280/ijsdp.150717.
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Senior executives have the power to formulate and implement strategic decisions of their company. Entrepreneurship is the critical human capital owned by them. To stimulate entrepreneurship, it is important to ensure that the company is controlled by senior executives with entrepreneurial spirit. Taking China’s A-share listed companies in 2013-2018 as the objects, this paper discusses the influence of control power of senior executives (executive control) over entrepreneurship, and further explores how each dimension of business environment and their interactions affect executive control and entrepreneurship. The results show that executive control greatly promotes entrepreneurship; high legalization level and intense market competition are favorable for entrepreneurship. The incentive effect of executive control on entrepreneurship can be enhanced by government intervention and market competition, and greatly bolstered through the interaction between legalization level and government intervention, as well as the interaction between market competition and government intervention.
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Kunkel, Adrianne, Michael Robert Dennis, and Elisha Waters. "Contemporary University Students' Ratings of Characteristics of Men, Women, and Ceos." Psychological Reports 93, no. 3_suppl (December 2003): 1197–213. http://dx.doi.org/10.2466/pr0.2003.93.3f.1197.
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Very few women have reached the highest echelons of corporate America, perhaps because gender stereotypes, including perceptions of women that vary from those of successful executives, block their promotion and advancement. In the current study, differences in how participants perceive similarities in characteristics of successful executives and those of both men and women were studied. The scope of the extant program of research is also extended upward in the organizational hierarchy with the operationalization of executive as “CEO” (Chief Executive Officer) rather than as “manager” or “middle-manager.” While men in general continue to be likened more to successful executives than do women in general, the gaps between male and female CEOs' similarities and between successful male and female CEOs' similarities to prototypically successful executives were smaller than reported in the 1970s. Noteworthy trends regarding 92 characteristics from Schein's Descriptive Index are also discussed.
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Lin, Yujie. "Internal & External Pay Dispersion of Executives and Enterprise Innovation." BCP Business & Management 18 (April 13, 2022): 344–54. http://dx.doi.org/10.54691/bcpbm.v18i.572.
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Innovation is the source of sustainable development of enterprises. Therefore, its influencing factors have long received extensive attention from academia. This paper takes China's A-share listed companies from 2008 to 2017 as a research sample to examine the relationship between the internal & external pay dispersion of executives and corporate innovation. The results show that: the internal pay dispersion of executives promotes the innovation of the enterprise; the external pay dispersion of the executives inhibits the innovation of the enterprise; the external pay dispersion of the executives enhances the positive effect of the internal executive pay dispersion on the innovation of the enterprise. Further, it is found that compared with non-state-owned enterprises, the internal pay dispersion of state-owned enterprises has a smaller role in promoting the innovation of the enterprise, and the external pay dispersion of executives has a smaller inhibitory effect on the innovation of the enterprise. Executive power enhances the positive effect of the internal pay dispersion on the innovation of the enterprise, and also strengthens the inhibitory effect of the external pay dispersion on the innovation of the enterprise. The above research findings reveal the intrinsic relationship between executive compensation incentive policies and corporate innovation, and provide a theoretical reference for companies to establish efficient incentive mechanisms and promote corporate innovation and development.
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Jin, Jiahui. "Executive Compensation and the Three-Dimensional Reference Framework: Insights from Data Analysis of Chinese Publicly Traded Firms." Journal of Electrical Systems 20, no. 7s (May 4, 2024): 1763–78. http://dx.doi.org/10.52783/jes.3799.
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This paper examines the impact of different reference points on executive compensation of Chinese listed companies by applying three dimensional reference point theory. Drawing on a panel data of 1,236 non-financial Chinese listed companies over the period of 2008 to 2012, it provides evidence that the three dimensions which are composed of external, internal, and time are all positively and significantly related to the average cash compensation of the top three highest paid executives in China. The research also finds a significantly positive relationship between the joint effect of these dimensions measured by factor and the top three executive pay level. The result suggests that the Chinese listed companies usually refer to the pay level of their peer groups, other executives within firms, and previous period to design the compensation packages for their top executives. It finds that all three dimensions comprising external, internal and time are significantly and positively related to the average cash compensation of the top three highest paid executives. The paper further examines the relationship between the three dimensional reference points and executive compensation, and reveals other determinants other than performance, thus contributing to the discussion on the determinants of executive compensation in the corporate governance literature and important policy implication for Chinese authorities.
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Saporito, Thomas J. "Business-linked executive development: Coaching senior executives." Consulting Psychology Journal: Practice and Research 48, no. 2 (1996): 96–103. http://dx.doi.org/10.1037/1061-4087.48.2.96.
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HENDERSON, VICKY, JIA SUN, and A. ELIZABETH WHALLEY. "THE VALUE OF BEING LUCKY: OPTION BACKDATING AND NONDIVERSIFIABLE RISK." International Journal of Theoretical and Applied Finance 24, no. 04 (June 2021): 2150023. http://dx.doi.org/10.1142/s0219024921500230.
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The practice of executives influencing their option compensation by setting a grant date retrospectively is known as backdating. Since executive stock options are usually granted at-the-money, selecting an advantageous grant date to coincide with a low stock price will be valuable to an executive. Empirical evidence shows that backdating of executive stock option grants was prevalent, particularly at firms with highly volatile stock prices. Executives who have the opportunity to backdate should take this into account in their valuation. We quantify the value to a risk averse executive of a lucky option grant with strike chosen to coincide with the lowest stock price of the month. We show the ex ante gain to risk averse executives from the ability to backdate increases with both risk aversion and with volatility, and is significant in magnitude. Our model involves valuing the embedded partial American lookback option in a utility indifference setting with key features of risk aversion, inability to diversify and early exercise.
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DuoRu, Duo, Mao Cui Guo, and Ze Min Wang. "Executive Compensation Level, Executive Characteristics and Quality of Internal Control." E3S Web of Conferences 292 (2021): 03019. http://dx.doi.org/10.1051/e3sconf/202129203019.
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In the process of transformation of economic momentum, the digital transformation and upgrading of enterprises has become an inevitable trend. As an important human resource of enterprise operation and management, senior executives play an irreplaceable key role in the process of enterprise transformation and upgrading. therefores, A total of 2244 A-share listed companies in China from 2015 to 2019 are selected for panel data analysis to verify the influence of the level of executive compensation, characteristics of senior executives and quality of internal control. The results show that there is a correlation between the level of executive compensation and the quality of internal control, and the characteristics of senior executives have a partial moderating effect between the level of executive compensation and the quality of internal control, but this moderating effect is weak and may be negative.
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Li, Qianqian, and Unyong Pyo. "Impacts of Top Five Executives’ Compensation on Employee Wages." International Journal of Financial Research 12, no. 1 (January 2, 2021): 242. http://dx.doi.org/10.5430/ijfr.v12n1p242.
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This paper studies the impacts of incentive compensation to top five executives on employee wages. We employ pay-performance sensitivity to measure executive incentive compensation. Using the sample during 1992 – 2017, we find that executive compensation has negative impacts on employee wages. In addition, we examine the impacts of executive incentive compensation on employee wages in different industries and find that the impacts are more severe in technology firms than in non-technology firms. Finally, we show that the executives with higher incentive compensation are more likely to suppress employee wages in financially safe firms. Our results suggest that while top management teams are compensated as a team on average, they are compensated as isolated individuals on other aspects. Furthermore, firm performance may not always improve in the long run by granting high incentive compensation to top executives.
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Chen, Yixiu, and Zhuting Li. "Compensation Incentive of Executives under the Situation of Synergy or Mutual Exclusion of Corporate Profit and Innovation Tasks: Based on Incentive Game Model between Principal and Agent." Complexity 2023 (December 24, 2023): 1–19. http://dx.doi.org/10.1155/2023/5626825.
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Based on the synergistic or mutually exclusive relationship between corporate profits and innovation tasks, such that shareholders can predict these two scenarios, this study constructed a multitask principal-agent mode considering “the degree of synergy or mutual exclusion between profit and innovation,” “salary reduction penalty,” and other factors. Based on mathematical logic, we determined the correlation and influence of synergistic or mutually exclusive degrees on executive profitability compensation and salary reduction penalties. Based on the 2016–2022 annual reports of A-share listed companies registered in Shanghai and Shenzhen, China, this research empirically verifies the effects of the aforementioned degree of synergy and mutual exclusion on managers’ compensation incentives. The research conclusions are stated as follows: (1) If shareholders can predict the synergy between profitability and innovation activities, then the salary reduction penalty (representing executive compensation stickiness) exhibits a significant negative correlation with the degree of synergy μ, whereas if the coefficient of executive profitability compensation βi (compensation sensitivity) bears a moderately positive relationship with μ, the shareholders will, to a certain extent, improve the performance-sharing coefficient of senior executives and reduce the penalty coefficient of salary reduction to increase the overall income level of senior executives via the incentive effect. (2) If shareholders can predict the mutually exclusive effect of profitability and innovation activities, the salary reduction penalty (representing executive compensation stickiness) is significantly positively correlated with the degree of mutual exclusion μ, whereas the coefficient of executive profitability compensation βi (compensation sensitivity) negatively affects the degree of synergy μ to a certain extent; however, this negative relationship is not prominent. This indicates that to avert the short-sighted behaviour of executives, shareholders will drive them toward investing in innovation by reducing the profitability compensation coefficient as well as increasing the innovative compensation coefficient. Simultaneously, the shareholders will increase the penalty coefficient of salary reduction to urge the executives to strengthen the operation and management of other profitable activities of the enterprise to maintain short-term performance at a reasonable level. (3) If shareholders cannot predict the synergy between profitability and innovation activities, they will attribute the source of excess earnings to the efforts of the senior executives. In particular, a greater degree of synergy is more likely to reduce the penalty for the senior executives. If the shareholders cannot predict the mutually exclusive effect of profitability and innovation tasks, the correlation between the penalty coefficient of salary reduction and the degree of mutual exclusion is related to the decline in performance. In such a scenario, the shareholders attribute the short-term deterioration in corporate performance to the negligence of the senior executives in corporate operations. Consequently, they urge senior executives to seriously operate the enterprise by increasing the penalty for senior executives. If the decline in performance exceeds the critical value, the shareholders will effectively motivate the senior executives by reducing the penalty coefficient of their salary reduction and moderately increasing their profit-making compensation sharing coefficient to avoid negative investment or their resignation.
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Mursyidah, Lailul, and Islamic Nurfajriyah. "Kualitas Pelayanan Kesehatan di RSUD Kabupaten Sidoarjo." JKMP (Jurnal Kebijakan dan Manajemen Publik) 5, no. 1 (January 29, 2019): 109. http://dx.doi.org/10.21070/jkmp.v5i1.1322.
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The purpose of this study to discribe the quality of health care at Sidoarjo Hospitals, exactly outpatient of iclinic executives and to determines the factors that inhibiting the implementation of health care for outpatient of clinic executive. This study used a Descriptive Qualitative Method. Technique of deciding informant by snowball sampling. Primary data were obtained by in-depth interviews with key informants head room of installation pavilion Sidoarjo Hospital, two nurse of executive polyclinic Sidoarjo hospital and 12 patient and patient's family of polyclinic executive Sidoarjo hospital are as informants. The results showed that the quality of health care at policlinic executives by perseption of respondents in terms of five dimensions of service quality models ServQual include dimensional visibility physical (tangibles), reliability (reliability), responsiveness (responsiveness), assurance (assurance), empathy (empathy) overall get a positive response from community. Factor that inhibiting implementation of service quality are a lack of medical personnel (nurses) at the policlinic executives, so they have to do multi task at a same time. There are unavailable fix doctor schedule and medical facilities not integrated yet has been the factors that inhibit the implementation of health care of clinic executives too.
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Hitt, Michael, and Katalin Takacs Haynes. "CEO overpayment and underpayment: executives, governance and institutions." Management Research: Journal of the Iberoamerican Academy of Management 16, no. 1 (April 9, 2018): 38–46. http://dx.doi.org/10.1108/mrjiam-09-2017-0781.
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Purpose Based on the findings of Aguinis et al. (2018) that only a few executives are properly compensated, the purpose of this paper is to examine potential causes and consequences of CEO overpayment and underpayment. Ineffective compensation of the CEO represents a governance failure by the board of directors. Better understanding the reasons for such failures may help boards to correct their processes and to enact more effective governance. Boards must look beyond the normally constrained focus of agency theory to examine executive characteristics and motivation. Thus, tailoring compensation plans and governance to the executive and organizational context requires attention to a broader set of theoretical notions. Design/methodology/approach Using the Aguinis et al. (2018) work, this paper conceptually identifies and explains the causes and consequences of CEO overpayment and underpayment along with their implications for governance and future research. Findings This paper identifies potential reasons for CEO overpayment and underpayment. For example, in addition to poor hiring decisions and inadequately designed compensation plans, CEO overpayment can occur because of executive hubris and greed. Alternatively, CEO underpayment may occur because of a poorly designed plan, inadequate information about the external labor market and the executive’s interests in non-pecuniary benefits (e.g. socio-emotional wealth, altruism). Without proper monitoring and oversight by the board, firm performance commonly suffers. Originality/value This work extends our understanding of why CEOs may be overpaid (e.g. hubris, greed) and why some executives may accept underpayment (e.g. desire for non-pecuniary benefits from SEW or altruism). This paper explains the consequences of ineffective corporate governance practices that allow inefficient CEO compensation. Finally, this paper explores several contingencies that can affect the governance practices and research needed to enhance our knowledge of this important area.
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Nzunga, Dennis Joseph. "Executive Reward Structure and Financial Performance of Listed Companies in the Nairobi Securities Exchange, Kenya." Journal of Finance and Accounting 6, no. 3 (July 12, 2022): 21–39. http://dx.doi.org/10.53819/81018102t4057.
Full textAbstract:
Studies have reported positive and significant relationship,that is, positive relationship between executive fixed pay, cash bonus, stock options and company’s financial performance; others negative and significant relationship, while others no significant relationship. In view of4this, the4 study4 sought4 to4 establish4 the4 relationship4 between4 executive4 reward4 structure4 and4 financial4 performance4 of4 listed4 companies4 at4 the4 Nairobi4 Securities4Exchange, Kenya. The investigation's precise goals were to establish the impact of executive base pay, bonuses, and non-cash incentives, as well as executive7 stock7options, on7 the7 financial7 performance7 of7 firms7listed7 on7the Nairobi Securities7Exchange7in7Kenya.The research also determined if the rate of inflation had a moderating influence on the association between CEO compensation and financial performance of Nairobi securities exchange-listed businesses. Stakeholder theory, agency theory, marginal productivity theory, and managerial power and governance theory were all used in this research. In this study, the positivist philosophy was applied, as well as a causal research design. The target population was all 65 listed businesses on the Nairobi Securities Exchange in Kenya, and a census was conducted. The research employed panel secondary data from annual financial statements of NSE-listed businesses. The study finding indicated that all the study variables except for inflation had a positive correlation with with financial performance of listed firms. However it is basic pay, bonuses and non cash benefits that had a positive and significant effect on the financial performance of listed firms. The effect of executive share options was positive but insignificant at 5% level of significance. Equally the effect of inflation was negative but insignificant. However, inflation has a signinificant effect as a moderator in the relationship7 between7 executive7 rewards7 and7 financial7 performance7 of7 listed7 firms7 at7 the7 Nairobi7 Securities7Exchange.Its is on the basis on of this findings that the study recommends that listed firms need to tailor their executive compensation and reward schemes to performance to encourage the top executives to continuous work hard and achieve their performance targets. Keywords: Executive reward structure, executive basic salary, executive bonuses, executive non-cash benefits, executive stock options, inflation rate, financial performance.