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Compensation Structure And Product Market Competition
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Book Synopsis Compensation Structure and Product Market Competition by : John M. Abowd
Download or read book Compensation Structure and Product Market Competition written by John M. Abowd and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inability to measure the opportunity cost of labor has plagued analyses of firm-level compensation policies for many years. Using a newly constructed data set of French workers and firms, we estimate the opportunity cost of the employees' time based on a measure of the person-effect in the wage equations (derived from Abowd, Kramarz and Margolis 1994). We then make direct calculations of the quasi-rent per worker at each firm and the conditions within that firm's product market, as measured by international prices, using a representative sample of private French firms. We find that quasi- rents per worker are only mildly related to the structure of the French product market. The systematic variation in our quasi-rents is related to international market prices and work force structure, however, producing an estimate of bargaining power for the employees of about 0.4. This estimate, while slightly larger than other estimates, may be quite reasonable for the workers in an economy in which the vast majority of jobs are covered by industry-level collective bargaining agreements.
Book Synopsis Product Market Competition and Top Management Compensation by : Simi Kedia
Download or read book Product Market Competition and Top Management Compensation written by Simi Kedia and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of competition in the product markets on the design of a firm's governance structure. In oligopolies, profits are not just a function of a firm's own actions but also of the actions taken by rivals. Firms therefore behave strategically and commit to actions which elicit the most favorable responses from rivals. It is shown both theoretically and empirically that firms strategically use incentive features of compensation contracts toalter behavior in product markets. When a firm's output market decisions are strategic substitutes (i.e., marginal profits decrease with an increase in the rival's actions) managerial incentives are decreased, while if these decisions are strategic complements (i.e., marginal profits increase with an increase in the rival's actions) managerial incentives are increased. I develop an empirical measure which captures the sensitivity of a firm's marginal profits to changes in its rival's actions. An examination of CEO incentives in the data shows that when decisions are strategic substitutes, CEOs get awarded stock options with lower pay-for-performance incentives, own a smaller percentage of the firm and have a smaller threat of dismissal following bad performance of the firm. On the other hand, when decisions are strategic complements CEOs get higher pay-for-performance incentives from both cash and stock based compensation.
Book Synopsis Product Market Structure and Labor Market Discrimination by : John S. Heywood
Download or read book Product Market Structure and Labor Market Discrimination written by John S. Heywood and published by SUNY Press. This book was released on 2006-06-01 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measures the relationship between market competition and the treatment of women, minorities, and the disabled in the workplace.
Book Synopsis Compensation Strucutre and Product Market Competition by : John M. Abowd
Download or read book Compensation Strucutre and Product Market Competition written by John M. Abowd and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Product-market Competition on Managerial Incentives and Managerial Pay in Compensation Contracts by : Christo Suresh Karunananthan
Download or read book The Effect of Product-market Competition on Managerial Incentives and Managerial Pay in Compensation Contracts written by Christo Suresh Karunananthan and published by . This book was released on 2004 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Increased Debt and Product Market Competition by : Gordon M. Phillips
Download or read book Increased Debt and Product Market Competition written by Gordon M. Phillips and published by DIANE Publishing. This book was released on 1993-07 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tests whether capital structure influences product market competition between firms that have sharply increased the debt in their capital structure.
Book Synopsis Worker Compensation Schemes and Product Market Competition by : Manfred Stadler
Download or read book Worker Compensation Schemes and Product Market Competition written by Manfred Stadler and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze product market competition between firm owners where the risk-neutral workers decide on their efforts and, thereby, on the output levels. Various worker compensation schemes are compared: a piece-rate compensation scheme as a benchmark when workers’ output performance is verifiable, and a contest-based as well as a tournament-based compensation scheme when it is only verifiable who the best performing worker is. According to optimal designs, all the considered compensation contracts lead to an equal market outcome. Therefore, it depends decisively on the relative costs of organizing a monitoring device, a contest, or a tournament whether the one or the other compensation scheme should be implemented.
Book Synopsis Executive Compensation and Product Market Competition by :
Download or read book Executive Compensation and Product Market Competition written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Compensation Decision Marketing by : Hills
Download or read book Compensation Decision Marketing written by Hills and published by . This book was released on 1997-11 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Compensation, Organizational Strategy, and Firm Performance by : Luis R. Gomez-Mejia
Download or read book Compensation, Organizational Strategy, and Firm Performance written by Luis R. Gomez-Mejia and published by Thomson South-Western. This book was released on 1992 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Market Competition, Ownership Structure and Capital Structure by : Ernesto Santiago Schargrodsky
Download or read book Product Market Competition, Ownership Structure and Capital Structure written by Ernesto Santiago Schargrodsky and published by . This book was released on 1997 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Market Competition and Earnings Management by : Guifeng Shi
Download or read book Product Market Competition and Earnings Management written by Guifeng Shi and published by . This book was released on 2018 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we employ a firm-level measure of product market competition constructed from the textual analysis of firms' 10-K filings and examine the relationship between managerial perceived competition pressure and firms' earnings management. We find that misstatement is positively related to product market competition, which is consistent with the notion that competition pressure increases managerial incentives to manage earnings. We also find that real earnings management is negatively related to product market competition. This suggests that real earnings management involves actions that decrease firms' competitiveness and is costly for firms under high competition pressure.
Book Synopsis The Impact of Product Market Competition on Earnings Quality by : Ho-yin Paul Man
Download or read book The Impact of Product Market Competition on Earnings Quality written by Ho-yin Paul Man and published by . This book was released on 2010 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Compensation Decision Making by : Thomas J. Bergmann
Download or read book Compensation Decision Making written by Thomas J. Bergmann and published by South Western Educational Publishing. This book was released on 1998 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate goal of the text is to make compensation decision makers out of its readers. No book can provide all the answers nor can it provide a fail-safe formula. What is can provide are the knowledge and techniques that lead to answers. All compensation decisions are made under a set of decision-making constraints. This book analyzes those constraints. A thorough understanding of them will assist the reader, since a careful consideration and weighing of all the constraints should result in more rational and workable compensation decisions.... The decisions have an impact upon the company achieving high productivity or slowly slipping into oblivion. To aid in preparing for compensation decisions, these pages were written to provide readers with the skills to make wise decisions in a complex, ever-changing, and competitive environment. -Pref.
Book Synopsis External Competitiveness Versus Internal Consistency in Pay-setting by : Brian C. Murray
Download or read book External Competitiveness Versus Internal Consistency in Pay-setting written by Brian C. Murray and published by . This book was released on 1992 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What is the Effect of Product Market Competition on Chief Executive Compensation? by : Erica B. Graboyes
Download or read book What is the Effect of Product Market Competition on Chief Executive Compensation? written by Erica B. Graboyes and published by . This book was released on 2010 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between the degree of product market competition and the level of executive compensation for the largest 216 publically traded companies in U.S. manufacturing. Using 2005 CapitalIQ and Census data this paper finds that firm size has a substantial positive effect on the CEO's total and annual cash compensation. These results also indicate that holding firm size as well as other measures constant, the degree of industry competition these firms face plays a small, but interesting role. Consistent with the hypothesis based on the literature, industry concentration has a parabolic relationship with compensation such that boards offer the lowest compensation in oligopolistic markets. This result may be due to an increased ability of boards and shareholders to monitor CEOs at intermediate levels of competition.
Book Synopsis Market Competition and the Effectiveness of Performance Pay by : Pooyan Khashabi
Download or read book Market Competition and the Effectiveness of Performance Pay written by Pooyan Khashabi and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
