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Investigation Into Agency Theory And The Effectiveness Of Executive Incentives In A Sample Of Irish Companies
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Book Synopsis Investigation Into Agency Theory and the Effectiveness of Executive Incentives in a Sample of Irish Companies by : Kieran Hegarty
Download or read book Investigation Into Agency Theory and the Effectiveness of Executive Incentives in a Sample of Irish Companies written by Kieran Hegarty and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Recipe for Success? by : Yoshio Yanadori
Download or read book A Recipe for Success? written by Yoshio Yanadori and published by . This book was released on 2005 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Symposium on Managerial Incentives and Corporate Performance: Effects of Executive Compensation, Organzational Structure, Takeovers, and Government Policy by : Ray Ball
Download or read book Symposium on Managerial Incentives and Corporate Performance: Effects of Executive Compensation, Organzational Structure, Takeovers, and Government Policy written by Ray Ball and published by . This book was released on 1993 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Making Executive Pay Work by : PricewaterhouseCoopers LLP
Download or read book Making Executive Pay Work written by PricewaterhouseCoopers LLP and published by . This book was released on 2012 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Behavioral Agency Model by : Robert Bordley
Download or read book Behavioral Agency Model written by Robert Bordley and published by . This book was released on 2014 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent empirical studies in Behavioral Agency Model (see Pepper and Gore, 2012) on executive compensations make evidence how the agent attitude to risk influences the subjectively perceived incentive value. The paper sets out a compensation schedule matching multiple goals: (1) aligning the incentives with the executive subjectively perceived fair and equitable compensation; (2) discouraging the executive excessive risk-taking; (3) providing an approach to calculate the certainty equivalent of the uncertain compensation. To hit the first goal we suggest to use the target-oriented decision approach (see Bordley and LiCalzi, 2000) able to guide the agent in eliciting her subjective value function through the assessment of the (uncertain) target to hit. The proposed approach is compatible with prospect theory (see Kahneman and Tversky, 1979). With reference to the second goal involving the problem on how prevent moral hazard phenomena, we suggest to insert an event-linked option. That warranty ties the compensation payment to the outgoing a set of given performance indicators taken as benchmarks. The third goal is achieved using the notion of actuarial zero-utility premium principle extended to prospect theory (see Kaluszka and Krzeszowiec, 2012, 2013). To explicit the agent subjective value function we suggest an interactive graphical method proposed by Goldstein and Rothschild (2014) based on the Distribution Builder (see Sharpe et al., 2000). Our approach generalizes the Pepper and Gore (2012, 2013) compensation formula and provides a normative foundation for constructing compensation schemes, which are coherent with Savage's (1954) rationality axioms and prospect theory as well.
Book Synopsis Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards by :
Download or read book Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards written by and published by . This book was released on 2008 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Handbook of the Economics of Corporate Governance by : Benjamin Hermalin
Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
Book Synopsis Incentives and Performance by : Isabell M. Welpe
Download or read book Incentives and Performance written by Isabell M. Welpe and published by Springer. This book was released on 2016-09-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contributes to the current discussion in society, politics and higher education on innovation capacity and the financial and non-financial incentives for researchers. The expert contributions in the book deal with implementation of incentive systems at higher education institutions in order to foster innovation. On the other hand, the book also discusses the extent to which governance structures from economy can be transferred to universities and how scientific performance can be measured and evaluated. This book is essential for decision-makers in knowledge-intensive organizations and higher-educational institutions dealing with the topic of performance management.
Book Synopsis Three Essays on the Impact of Exogenous and Persistent Changes on the Provision of Incentives by : Vincent Tena
Download or read book Three Essays on the Impact of Exogenous and Persistent Changes on the Provision of Incentives written by Vincent Tena and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In presence of an agency friction, incentive contracts are designed to align the manager's objectives with those of the owner of the firm. However, the contractual environment is subject to shocks beyond the scope of the manager that impact the future profitability of the firm. These shocks can be due for instance to a strengthening of regulations, changes at the market-level, or the emergence of a new alternative to the manager. Hence, it raises the question how contracts are designed when such shocks are anticipated at the contractual date. In order to understand this effect, we conduct three studies. In the first paper, we explore how an incentive contract evolves at the emergence of automation technologies that can replace the manager in the context of asset management. We study a continuous time principal-agent problem where the performance of an asset is determined by the manager's unobserved effort, and where the automation technology emerges in a uncertain future. Our model suggests that the empirically observed layoffs that accompany the emergence ofautomation technology may have a contractual foundation. For the second study, we explore how changes in the agent's ability to divert cash flow impact an optimal contract design. We build a continuous-time principal-agent model where the agent can divert cash flow out of the owner's sight. While it is straightforward that mitigating the agency friction is valuable for the firm's owner, its effect on the provision of incentives throughout the contractual relationship is unclear. First, our result suggests that the compression of the bonuses at the advent of the shock: the reduction (respectively, increase) of the expected bonus of good (respectively, poor) performers. Second, our analysis also predicts the regulation-induced retention of a poor performer, defined as maintaining an agent in place while his poor performance would have induced his dismissal in the absence of the shock on the benefitof cash-flow diversion. In the third study, we continue the previous investigation with an empirical study. We analyze the Compensation Discussion and Analysis introduced for the 2007 proxy season. We focus on how this reform has impacted the dismissal decision in S&P 500 non-financial firms. We find that the introduction of the CD&A act has significantly reduced the probability of forced CEO dismissal in S&P 500 non-financial firms. While prior literature has shown that exogenous shocks at the industry level impact the dismissal decision, we document that changes in the regulatory environment also matter.
Download or read book The Theory of Incentives written by and published by . This book was released on 2002 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incentives in Organizations by : Robert Gibbons
Download or read book Incentives in Organizations written by Robert Gibbons and published by . This book was released on 1998 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper I summarize four new strands in agency theory that help me think about incentives in real organizations. As a point of departure, I being with a quick sketch of the classic agency model. I then discuss static models of objective performance measurement in which firms get what they pay for; repeated-game models of subjective performance assessments; incentives for skill development rather than simply for effort; and incentive contracts between versus within organizations. I conclude by suggesting two avenues for further progress in agency theory: better integration with organizational economics, as launched by Coase and reinvigorated by Williamson, and cross-pollination with other fields that study organizations, including industrial relations, organizational sociology, and social psychology
Author :Anne-Marie McGauran Publisher :Institute of Public Administration ISBN 13 :9781904541301 Total Pages :284 pages Book Rating :4.5/5 (413 download)
Book Synopsis The Corporate Governance of Agencies in Ireland by : Anne-Marie McGauran
Download or read book The Corporate Governance of Agencies in Ireland written by Anne-Marie McGauran and published by Institute of Public Administration. This book was released on 2005 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance, Value Creation and Growth The Bridge between Finance and Enterprise by : OECD
Download or read book Corporate Governance, Value Creation and Growth The Bridge between Finance and Enterprise written by OECD and published by OECD Publishing. This book was released on 2012-08-20 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the role of corporate governance arrangements in providing right incentives to contribute the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks.
Book Synopsis Executive Compensation and Shareholder Value by : Jennifer Carpenter
Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.
Author :Library of Congress. Copyright Office Publisher :Copyright Office, Library of Congress ISBN 13 : Total Pages :1830 pages Book Rating :4.F/5 ( download)
Book Synopsis Catalog of Copyright Entries. Third Series by : Library of Congress. Copyright Office
Download or read book Catalog of Copyright Entries. Third Series written by Library of Congress. Copyright Office and published by Copyright Office, Library of Congress. This book was released on 1972 with total page 1830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Leadership by : Sydney Finkelstein
Download or read book Strategic Leadership written by Sydney Finkelstein and published by Cengage Learning. This book was released on 1996 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thorough, in-depth treatment of strategic leadership that highlights knowledge creation and practical insight. The authors have been at the forefront of research and writing in this field; this book represents a compilation and creative extension of their own and others research on top executives. This brief one-color text is appropriate for MBA strategy courses or as a supplement to various upper-division managerial texts. Strategic Leadership is part of the Wests Strategic Management Series edited by Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson, authors of Strategic Management: Competitiveness and Globalization, 2nd.
Book Synopsis Social Science Research by : Anol Bhattacherjee
Download or read book Social Science Research written by Anol Bhattacherjee and published by CreateSpace. This book was released on 2012-04-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is designed to introduce doctoral and graduate students to the process of conducting scientific research in the social sciences, business, education, public health, and related disciplines. It is a one-stop, comprehensive, and compact source for foundational concepts in behavioral research, and can serve as a stand-alone text or as a supplement to research readings in any doctoral seminar or research methods class. This book is currently used as a research text at universities on six continents and will shortly be available in nine different languages.
