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Co Worker Complementarity And The Stability Of Top Management Teams
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Book Synopsis The Firm Divided by : Graeme Guthrie
Download or read book The Firm Divided written by Graeme Guthrie and published by Oxford University Press. This book was released on 2017-03-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: A battle is being fought within corporations. Shareholders want managers to make their shares as valuable as possible, managers want shareholders to leave them alone, and the board of directors is caught in the middle. The Firm Divided shows how strong boards persuade managers to do what's best for shareholders-and why weak boards don't. Graeme Guthrie blends the stories of particular firms and individuals with the insights of scholarly research, enhancing understanding of how seemingly separate events are consequences of the separation of ownership and control, the ultimate cause of manager-shareholder conflict. Boards of directors can affect the outcome of this conflict by monitoring managers, providing incentives for managers to work in shareholders' best interests, delegating monitoring to outside parties, and influencing the effectiveness of the market for corporate control. How directors do this depends on how they weigh their fiduciary duty to shareholders against the close ties that bind them to senior executives. The Firm Divided provides conceptual insight, underpinned by research into corporate governance, into board-manager interactions. It shows how tools that can benefit shareholders when used by strong boards can actually harm shareholders when used by weak boards. Guthrie provides a 360 degree view of firms, exploring the ways in which each player pursues their own goals, with examples from a range of firms in diverse industries.
Book Synopsis Earnings Management by : Joshua Ronen
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 2010-12-14 with total page 1141 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis Rodéate de los mejores by : Claudio Fernández-Aráo
Download or read book Rodéate de los mejores written by Claudio Fernández-Aráo and published by Editorial Almuzara. This book was released on 2013-02 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rodéate de los mejores cubre las necesidades de los líderes en las organizaciones complejas. ¿Perteneces al consejo de administración y estás buscando un nuevo director general para tu empresa? ¿Necesitas cubrir un puesto clave en tu división? ¿Quieres saber qué técnicas debes aplicar para evitar caer en la trampa de los juicios prematuros en el proceso de evaluación de candidatos? Rodéate de los mejores es un recurso completo para los directivos interesados en mejorar su capacidad para contratar y promocionar a los mejores, y para cualquier persona interesada en el tema. Sí, rodearse de los mejores es difícil, pero no es un misterio. Es una disciplina que puedes y debes dominar, para tu organización y para tu propio éxito.
Download or read book Peers at Work written by Alexandre Mas and published by . This book was released on 2006 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate how and why the productivity of a worker varies as a function of the productivity of her co-workers in a group production process. In theory, the introduction of a high productivity worker could lower the effort of incumbent workers because of free riding; or it could increase the effort of incumbent workers because of peer effects induced by social norms, social pressure, or learning. Using scanner level data, we measure high frequency, worker-level productivity of checkers for a large grocery chain. Because of the firm's scheduling policy, the timing of within-day changes in personnel is unsystematic, a feature for which we find consistent support in the data. We find strong evidence of positive productivity spillovers from the introduction of highly productive personnel into a shift. A 10% increase in average co-worker permanent productivity is associated with 1.7% increase in a worker's effort. Most of this peer effect arises from low productivity workers benefiting from the presence of high productivity workers. Therefore, the optimal mix of workers in a given shift is the one that maximizes skill diversity. In order to explain the mechanism that generates the peer effect, we examine whether effort depends on workers' ability to monitor one another due to their spatial arrangement, and whether effort is affected by the time workers have previously spent working together. We find that a given worker's effort is positively related to the presence and speed of workers who face him, but not the presence and speed of workers whom he faces (and do not face him). In addition, workers respond more to the presence of co-workers with whom they frequently overlap. These patterns indicate that these individuals are motivated by social pressure and mutual monitoring, and suggest that social preferences can play an important role in inducing effort, even when economic incentives are limited.
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2003 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monthly Labor Review by : United States. Bureau of Labor Statistics
Download or read book Monthly Labor Review written by United States. Bureau of Labor Statistics and published by . This book was released on 2005-05 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Book Synopsis The Trilemma in History by : Maurice Obstfeld
Download or read book The Trilemma in History written by Maurice Obstfeld and published by . This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The exchange-rate regime is often seen as constrained by the monetary policy trilemma, which imposes a stark tradeoff among exchange stability, monetary independence, and capital market openness. Yet the trilemma has not gone without challenge. Some (e.g., Calvo and Reinhart 2001, 2002) argue that under the modern float there could be limited monetary autonomy. Others (e.g., Bordo and Flandreau 2003), that even under the classical gold standard domestic monetary autonomy was considerable. This paper studies the coherence of international interest rates over more than 130 years. The constraints implied by the trilemma are largely borne out by history"--NBER website
Book Synopsis How Well Can the New Open Economy Macroeconomics Explain the Exchange Rate and Current Account? by : Paul R. Bergin
Download or read book How Well Can the New Open Economy Macroeconomics Explain the Exchange Rate and Current Account? written by Paul R. Bergin and published by . This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper advances the new open economy macroeconomic (NOEM) literature in an empirical direction, estimating and testing a two-country model. Fit to U.S and G-7 data, the model performs moderately well for the exchange rate and current account. Results offer guidance for future theoretical work. Parameter estimates lend support to some common assumptions in the theoretical literature, such as local currency pricing and risk sharing. Estimates are found for key parameters commonly calibrated in the theoretical literature, such as the elasticity of substitution between home and foreign composite goods, and the response of a country risk premium to the net foreign asset position. Results also indicate that deviations from interest rate parity are not closely related to monetary policy shocks, as recently hypothesized. Further, results suggest that inserting explicit interest rate parity shocks into a NOEM model may be more helpful in explaining movements in the current account than the exchange rate"--NBER website
Book Synopsis Industrial and Labor Relations Review by :
Download or read book Industrial and Labor Relations Review written by and published by . This book was released on 2016 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies by : Bruce A. Blonigen
Download or read book Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies written by Bruce A. Blonigen and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper examines the question of whether less-developed countries' (LDCs') experiences with foreign direct investment (FDI) systematically different from those of developed countries (DCs). We do this by examining three types of empirical FDI studies that typically do not distinguish between LDCs and DCs in their analysis. First, we find that the underlying factors that determine the location of FDI activity across countries vary systematically across LDCs and DCs in a way that is not captured by current empirical models of FDI. Second, the effect of FDI on economic growth is one that is only supported for LDCs in the aggregate data, not DCs. Third, the evidence suggests that FDI is much less likely to crowd out (more likely to crowd in) domestic investment for LDCs than DCs"--NBER website
Book Synopsis A New Micro Model of Exchange Rate Dynamics by : Martin D. D. Evans
Download or read book A New Micro Model of Exchange Rate Dynamics written by Martin D. D. Evans and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We address the exchange rate determination puzzle by examining how information is aggregated in a dynamic general equilibrium (DGE) setting. Unlike other DGE macro models, which enrich either preference structures or production structures, our model enriches the information structure. The model departs from microstructure-style modeling by identifying the real activities where dispersed information originates, as well as the technology by which information is subsequently aggregated and impounded. Results relevant to the determination puzzle include: (1) persistent gaps between exchange rates and macro fundamentals, (2) excess volatility relative to macro fundamentals, (3) exchange rate movements without macro news, (4) little or no exchange rate movement when macro news occurs, and (5) a structural-economic rationale for why transaction flows perform well in accounting for monthly exchange rate changes, whereas macro variables perform poorly. Though past micro analysis has made progress on results (1) through (3), results (4) and (5) are new. Excess volatility arises in our model for a new reason: rational exchange rate errors feed back into the fundamentals that the exchange rate is trying to track"--NBER website
Book Synopsis A Meta-analysis of the Effect of Common Currencies on International Trade by : Andrew Rose
Download or read book A Meta-analysis of the Effect of Common Currencies on International Trade written by Andrew Rose and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Thirty-four recent studies have investigated the effect of currency union on trade, resulting in 754 point estimates of the effect. This paper is a quantitative attempt to summarize the current state of debate; meta-analysis is used to combine the disparate estimates. The chief findings are that: a) the hypothesis that there is no effect of currency union on trade can be rejected at standard significance levels; b) the combined estimate implies that a bilateral currency union increase trade by between 30% and 90%; and c) the estimates are heterogeneous and not consistently tied to most features of the studies"--NBER website
Book Synopsis Labor Productivity in the United States and the United Kingdom During the Nineteenth Century by : Stephen N. Broadberry
Download or read book Labor Productivity in the United States and the United Kingdom During the Nineteenth Century written by Stephen N. Broadberry and published by . This book was released on 2004 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A number of writers have recently questioned whether labor productivity or per capita incomes were ever higher in the United Kingdom than in the United States. We show that although the United States already had a substantial labor productivity lead in industry as early as 1840, especially in manufacturing, labor productivity was broadly equal in the two countries in agriculture, while the United Kingdom was ahead in services. Hence aggregate labor productivity was higher in the United Kingdom, particularly since the United States had a larger share of the labor force in low value-added agriculture. U.S. overtaking occurred decisively only during the 1890s, as labor productivity pulled ahead in services and the share of agricultural employment declined substantially. Labor force participation was lower in the United States, so that the United Kingdom's labor productivity advantage in the mid-nineteenth century translated into a larger per capita income lead"--NBER website
Book Synopsis The Institutions of Monetary Policy by : Mervyn King
Download or read book The Institutions of Monetary Policy written by Mervyn King and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I argue that it is useful to think about the optimal design of monetary institutions using the insights from the theory of incomplete contracts. The core of the monetary policy problem is the uncertainty about future social decisions resulting from the impossibility and the undesirability of committing our successors to any given monetary policy strategy. The impossibility stems from the observation that collective decisions cannot be enforced so that it is impossible to commit to future collective decisions. The undesirability reflects the fact that we cannot articulate all possible future states of the world. Monetary institutions expand the possibility frontier of the technology of collective decisions by raising the costs of making inefficient deviationsng from pre-announced paths. Institutions also become repositories of experience and knowledge to facilitate learning about the economic environment and communication to society as a whole. I illustrate the importance of institutional design for the operation of monetary policy by reference to three case studies: the collapse of exchange rate regimes in Brazil and the United Kingdom; currency arrangements in Iraq and their reform after the 2003 war; and the relationship between central banks and governments when the zero constraint on nominal interest rates is binding"--NBER website
Book Synopsis Productivity Growth and Disinflation in Chile by : Jose De Gregorio
Download or read book Productivity Growth and Disinflation in Chile written by Jose De Gregorio and published by . This book was released on 2004 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper analyzes the role productivity growth had on disinflation in Chile during the 1990s. It argues that productivity growth was key in avoiding the output costs of stabilization in a highly indexed economy. Disinflation from the early 1990s through 1998 was costless. Among the many external and domestic factors that contributed to good macroeconomic performance, which combined simultaneously very high rates of growth and declining inflation, productivity stands high. The simulations presented in this paper illustrate this point"--NBER website
Book Synopsis Managing Human Resources for Environmental Sustainability by : Susan E. Jackson
Download or read book Managing Human Resources for Environmental Sustainability written by Susan E. Jackson and published by John Wiley & Sons. This book was released on 2012-06-18 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Human Resources for Environmental Sustainability The Society for Industrial and Organizational Psychology (SIOP) is the premier membership organization for those practicing industrial and organizational psychology. The Society's mission is to enhance human well-being and performance in organizational and work settings by promoting the science, practice, and teaching of industrial and organizational (I-O) psychology. I-O psychologists apply research that improves the well-being and performance of people and the organizations that employ them. This involves everything from workforce planning, employee selection, and leader development to studying job attitudes and job motivation, implementing work teams, and facilitating organizational change. SIOP is a nonprofit organization with more than 6,000 members. While an independent organization with its own governance, SIOP is also a division within the American Psychological Association and an organizational affiliate of the Association for Psychological Science.
