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Design Issues In Bonus Contracts
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Book Synopsis Design Issues in Bonus Contracts by : Christian Petersen
Download or read book Design Issues in Bonus Contracts written by Christian Petersen and published by . This book was released on 2007 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bonus plans have become a popular tool for compensating managers and employees. While other accounting studies on bonus plans typically focus on earnings management, for example by examining the association between cash bonuses and stock returns or the incentive for management to manage earnings, our study discusses specific issues that are relevant in designing and understanding bonus plans based on financial performance measures.Bonus contracts should be designed so they align the interest of management and owners. In practice, this is far more difficult than it sounds. We discuss issues that require special attention in preparing bonus contracts: Choice of performance measure(s), accounting issues, link between performance and bonus, and bonus threshold.Our study should be of interest to managers, compensation committees, investors and others interested in bonus plans. A proper bonus plan is essential to ascertain that management compensation is closely linked to management's ability to create value.
Book Synopsis Bonus Contracts, Private Information and CEO Turnover by : Felix Hoppe
Download or read book Bonus Contracts, Private Information and CEO Turnover written by Felix Hoppe and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we address the question whether performance measures that are specified in annual bonus contracts represent overall performance dimensions used by boards of directors in making governance decisions. Recent studies claim that managerial incentives are predominantly provided by equity holdings rather than short-term cash compensation. Given the dominance of equity compensation and the fact that firms invest resources in the design and use of bonus contracts, it is unclear why the vast majority of firms continue to use annual bonus contracts if these would create only minor, or no incentive benefits. We argue that boards of directors use bonus contracts as a channel to ex-ante communicate how performance will be evaluated annually and thus signal the measures relevant for CEO termination decisions, which provides significant incentives. Further, the resulting cash compensation communicates the board's actual performance evaluation of the CEO, which can disclose private information to the capital market. Our empirical results are consistent with these arguments and show that the incentive weight on privately observed performance measures in bonus contracts is systematically related to the importance of these measures for CEO turnover. We further show that the stock market reaction to a management change depends on bonus contract design. We specifically find a positive reaction when boards of directors have signaled to solely use public information in CEO performance evaluation (good news about the board) and a negative reaction when they (also) use private information (bad news about the CEO). Overall, we show that the care taken in designing annual bonus contracts can be explained by its link with governance decisions and indicate that performance measurement issues are an important part of the corporate governance process.
Book Synopsis Understanding and Negotiating Construction Contracts by : Kit Werremeyer
Download or read book Understanding and Negotiating Construction Contracts written by Kit Werremeyer and published by John Wiley & Sons. This book was released on 2023-07-19 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding and Negotiating Construction Contracts The complexities of construction contracts are made easy with this thorough and readable guide Construction contracts can be complex for both owners and contractors. For contractors, negotiating fair and balanced commercial terms in contracts is just as important as properly managing projects; a properly negotiated contract can mitigate unnecessary risk and unnecessary risk transfer. This, in turn, reduces exposure to financial liability for the contractor and for avoidance of contract claims and disputes. Understanding and Negotiating Construction Contracts provides a comprehensive and readable introduction to the world of construction contracts. Providing, for example, coverage of the four most common types of contracts—lump sum/fixed-price, cost-plus, time-and-materials, and unit-pricing—it promises to reduce uncertainty and allow contractors to enter contractual negotiations with greater confidence to be able to achieve a fair and balanced contract. This updated new edition reflects the up-to-date best practices to understand how to better negotiate the commercial terms and conditions in construction contracts. Readers of the second edition of Understanding and Negotiating Construction Contracts will also find: Updated information on indemnity, insurance, and negotiation An all-new chapter with a contract analysis checklist Real-world examples drawn from small residential, retail, large commercial, and international projects Understanding and Negotiating Construction Contracts is essential for construction professionals and college students studying construction contracts and the liabilities arising out of them.
Book Synopsis Essays on Contract Design and Incentive Provision by : Eva I. Hoppe-Fischer
Download or read book Essays on Contract Design and Incentive Provision written by Eva I. Hoppe-Fischer and published by Springer. This book was released on 2019-02-19 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contract theory, which emphasizes the importance of unverifiable actions and private information, has been a highly active field of research in microeconomics in the last decades. This thesis is divided into two parts. Part I consists of three chapters that study contract-theoretic models which are motivated by the classic procurement problem of a principal who wants an agent to deliver a certain good or service. In such models it is typically assumed that decision makers are interested in their own monetary payoffs only. Moreover, they have unlimited cognitive abilities and behave in a perfectly rational way. Yet, in practice people often do not behave this way. While empirical research is very difficult in contract theory, laboratory experiments have recently turned out to be an important source of data. In Part II, three experimental studies are presented that investigate contract-theoretic problems brought up in Part I.
Book Synopsis Designing the City by : Adele Fleet Bacow
Download or read book Designing the City written by Adele Fleet Bacow and published by Island Press. This book was released on 2013-04-22 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written in a clear and engaging style, Designing the City is a practical manual for improving the way communities are planned, designed, and built. It presents a wealth of information on design and decision-making, including advice on how citizens and activists can make their voices heard, and numerous examples of effective strategies for working with all parties involved in neighborhood and community development. It highlights proven models and strategies to help communities: establish unique and productive partnerships with public works and transportation departments develop resources through grant programs broaden expertise, perspective, and constituency create new and enduring models for effective action educate participants and consumers of the design and development process
Book Synopsis Performance-Based Contracts (PBC) for Improving Utilities Efficiency by : Philippe Marin
Download or read book Performance-Based Contracts (PBC) for Improving Utilities Efficiency written by Philippe Marin and published by IWA Publishing. This book was released on 2018-02-15 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific and Technical Report No. 24 Performance-Based Contracts (PBC) for Improving Utilities Efficiency: Experiences and Perspectives is a compendium of articles written by members of the PBC taskforce. It focuses on new approaches without delegated management to private operator i.e. service contracts, consulting contracts, Alliance approach, public-public partnership. It also mentions new design and generation of more traditional PPPs, (MC, lease, concession), where a larger proportion of performance-based design is being applied. List of Contents: Performance Based Contracts – Setting the scene; PBC and Results Based Financing: the inverse approach; PBC and Energy Efficiency; Internal Performance Contracts: A Case of the National Water and Sewerage Corporation in Uganda; Performance-Based Service Contracts in Navi Mumbai; Financial Comparison of PBCs and Conventional Approach; Tegucigalpa PBC Case Study; Performance Based Contracts – Key Design Issues; NRW Reduction Optimization Framework; How to improve water services performance? Performance Based Contracts (PBC) and Regulatory issues; Peer-to-Peer Partnerships Operational for sustainable water services; Performance Based Contracts in Malawi: Teamwork Works; Performance based affermage contracts; Performance based Contracts, The Aroona Integrated Alliance Experience; Experience from Eastern Europe; NRW Performance Contract – Kingdom of Bahrain; The way forward and perspectives/trends
Book Synopsis Design and Construction Contracts by : Daniel S. Hapke
Download or read book Design and Construction Contracts written by Daniel S. Hapke and published by . This book was released on 1987 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on the rights of the owners of buildings under construction. Topics include the design agreement, the contract for general construction, and the construction management agreement. It is geared for use by attorneys and contains sample forms.
Download or read book Engineering and Contracting written by and published by . This book was released on 1919 with total page 838 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Part 3 Handbook by : Stephen Brookhouse
Download or read book Part 3 Handbook written by Stephen Brookhouse and published by Routledge. This book was released on 2020-10-31 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decision to take the final step to becoming a fully qualified architect exam can be daunting. Fortunately, this new edition of the Part 3 Handbook demystifies the whole process of qualifying, dispelling commonly held myths and offering genuine insight into what examiners really want. Written by an experienced practitioner and Professional Studies Advisor, and endorsed by the RIBA, the book concentrates on the separate elements that you will be assessed on in the Part 3 exam. Fully updated for 2020, this edition features a brand new chapter on professional development and includes up-to-date guidance on the 2020 plan of work.
Book Synopsis Experimental Business Research by : Amnon Rapoport
Download or read book Experimental Business Research written by Amnon Rapoport and published by Springer Science & Business Media. This book was released on 2005-10-20 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume II & III of Experimental Business Research include original papers that were presented at the Second Asian Conference on Experimental Business Research held at the Hong Kong University of Science and Technology (HKUST) on December 16-19, 2003. The conference was organized by the Center for Experimental Business Research (cEBR) at HKUST and was chaired by Professors Amnon Rapoport and Rami Zwick. Experimental Business Research adopts laboratory based experimental economics methods to study an array of business and policy issues spanning the entire business domain including accounting, economics, finance, information systems, marketing and management and policy. "Experimental economics" is an established term that refers to the use of controlled laboratory-based procedures to test the implications of economic hypotheses and models and discover replicable patterns of economic behavior. We have coined the term "Experimental Business Research" in order to broaden the scope of"experimental economics" to encompass experimental finance, experimental accounting, and more generally the use of laboratory-based procedures to test hypotheses and models arising from research in other business related areas, including information systems, marketing, and management and policy. The chapters included in these volumes reflect the domain diversity of studies in the experimental business research field.
Book Synopsis Game Theory in Management Accounting by : David Mueller
Download or read book Game Theory in Management Accounting written by David Mueller and published by Springer. This book was released on 2017-09-21 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.
Book Synopsis Challenges for the 21st Century by : T. Alten
Download or read book Challenges for the 21st Century written by T. Alten and published by Taylor & Francis US. This book was released on 1999 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis State-by-state Guide to Design and Construction Contracts and Claims: Alabama-Missouri by : Michael Dodd
Download or read book State-by-state Guide to Design and Construction Contracts and Claims: Alabama-Missouri written by Michael Dodd and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-by-State Guide to Design and Construction Contracts and Claims, Second Edition provides a practical, state-by-state analysis of legal issues affecting architects, engineers, project owners, and construction contractors. Included are in-depth treatments of design and construction issues for all 50 states, Washington, D.C., and Puerto Rico. Updated annually, this essential sourcebook covers each state in its own separate chapter written by leading construction industry attorneys from that jurisdiction, making it easy to find answers quickly for your jurisdictions. You'll find expert answers to such questions as: Are contract clauses that waive a potential claimant's statutory lien rights enforceable in your jurisdiction? Can you enforce andquot;pay-if-paidandquot; and andquot;pay-when-paidandquot; contract clauses in your jurisdiction? Is there a leading case or statute in your jurisdiction that specifically discusses the elements of a claim for breach of contract? Is there a leading case or statute in your jurisdiction that specifically addresses the elements of a claim for ordinary negligence, gross negligence, or professional negligence? What are the most common theories of recovery in the design and construction claim setting in a particular jurisdiction? What damages are recoverable in the context of design and construction claims in a particular jurisdiction? Designed to assist you in managing any type of litigation situation, the State-by-State Guide to Design and Construction Contracts and Claims, Second Edition offers expert explanations and analyses of the full range of contract and claim topics.
Download or read book Contract written by Len Corlin and published by . This book was released on 1989-07 with total page 890 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Project Manager's Guide to Purchasing by : Garth Ward
Download or read book The Project Manager's Guide to Purchasing written by Garth Ward and published by Gower Publishing, Ltd.. This book was released on 2008 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This very practical guide describes the whole process of contracting for goods and services, from selecting tenderers to placing a contract. It details the key topics that are necessary for success, such as contract strategy, contract types, contract law and evaluating tenders. Whilst the book also addresses the project context in which purchasing takes place, the subject matter could equally be applied to any business context. The treatment of the subject assumes no prior knowledge but, at the same time, provides the experienced person with new, and sometimes unconventional, insights into the subject. The book includes personal experiences, cases and exercises in order to root the subject into the real world. The Project Manager's Guide to Purchasing has been structured so that the reader can choose the chapter topic areas that they wish to study in isolation. Where necessary references are provided to complement the individual chapters. Illustrations of key documents in the purchasing and contracting process are also provided.
Book Synopsis The International Compendium of Construction Contracts by : Phillip Greenham
Download or read book The International Compendium of Construction Contracts written by Phillip Greenham and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-05-10 with total page 1370 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how the most commonly used construction project contracts are applied in a range of countries around the world. The specific situation of each of the almost 40 countries studies is dealt with in a dedicated chapter, allowing for easy comparison between differing legal and commercial environments. Each chapter contextualizes the relevant contracts within the legal and commercial systems prevalent in a particular country and examines a number of common issues impacting construction projects around the world. This unique book will be an essential resource for construction law specialists around the world because of its focus on commonly used contracts and the contextualizing of these contracts into the legal and commercial environment of each studied country. All contributions are from practicing construction project lawyers ensuring that the quality of the information and analysis is of the highest standard.
Book Synopsis A Compendium of Best Practices and Lessons Learned for Improving Local Community Recovery from Disastrous Hazardous Materials Transportation Incidents by : Richard A. Ranous
Download or read book A Compendium of Best Practices and Lessons Learned for Improving Local Community Recovery from Disastrous Hazardous Materials Transportation Incidents written by Richard A. Ranous and published by Transportation Research Board. This book was released on 2012 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: "TRB's Hazardous Materials Cooperative Research Program (HMCRP) Report 9: A Compendium of Best Practices and Lessons Learned for Improving Local Community Recovery from Disastrous Hazardous Materials Transportation Incidents explores how local communities can develop or improve recovery planning and operations in response to hazardous materials transportation incidents"--Publisher's description.
