How Powerful Cfos Camouflage And Exploit Equity Based Incentive Compensation

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How Powerful CFOs Camouflage and Exploit Equity-Based Incentive Compensation

Author : Denton Collins
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis How Powerful CFOs Camouflage and Exploit Equity-Based Incentive Compensation by : Denton Collins

Download or read book How Powerful CFOs Camouflage and Exploit Equity-Based Incentive Compensation written by Denton Collins and published by . This book was released on 2017 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: While numerous studies have examined the impact that powerful CEOs have on their compensation and overall firm decisions, relatively little is known about how powerful CFOs influence their compensation and important firm financial reporting and operational outcomes. This is somewhat surprising given the critical role CFOs play in the financial reporting process of a firm. Using managerial power theory (Bebchuk and Fried, 2003) and the theory of power and self-focus (Pitesa and Thau, 2013), we predict that powerful CFOs employ a two-part strategy to camouflage excessive incentive compensation above what efficient contracting would dictate. First, powerful CFOs use their power and influence to negotiate shorter incentive pay duration on a non-arm's length basis to maximize the present value of cash flows. Second, when their incentive equity compensation vests, we suggest that CFOs manage earnings to further enhance their personal income. Consistent with our theoretical expectations, we find higher levels of income-increasing accrual-based earnings management and real transactions management, a potentially unethical practice, in firms with powerful CFOs who have short pay durations. We discuss the implications of our analysis in the context of mitigating CFO power and managing the ethical environment “tone at the top.”

The Handbook of the Economics of Corporate Governance

Author : Benjamin Hermalin
Publisher : Elsevier
ISBN 13 : 0444635408
Total Pages : 762 pages
Book Rating : 4.4/5 (446 download)

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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

Pay Without Performance

Author : Lucian A. Bebchuk
Publisher : Harvard University Press
ISBN 13 : 9780674020634
Total Pages : 308 pages
Book Rating : 4.0/5 (26 download)

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Book Synopsis Pay Without Performance by : Lucian A. Bebchuk

Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.

The Puppet Masters

Author : Emile van der Does de Willebois
Publisher : World Bank Publications
ISBN 13 : 0821388967
Total Pages : 230 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis The Puppet Masters by : Emile van der Does de Willebois

Download or read book The Puppet Masters written by Emile van der Does de Willebois and published by World Bank Publications. This book was released on 2011-11-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the use of these entities in nearly all cases of corruption. It builds upon case law, interviews with investigators, corporate registries and financial institutions and a 'mystery shopping' exercise to provide evidence of this criminal practice.

Department of Defense Dictionary of Military and Associated Terms

Author : United States. Joint Chiefs of Staff
Publisher :
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Department of Defense Dictionary of Military and Associated Terms by : United States. Joint Chiefs of Staff

Download or read book Department of Defense Dictionary of Military and Associated Terms written by United States. Joint Chiefs of Staff and published by . This book was released on 1979 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Balanced Scorecard Step-by-Step

Author : Paul R. Niven
Publisher : John Wiley & Sons
ISBN 13 : 0471269166
Total Pages : 354 pages
Book Rating : 4.4/5 (712 download)

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Book Synopsis Balanced Scorecard Step-by-Step by : Paul R. Niven

Download or read book Balanced Scorecard Step-by-Step written by Paul R. Niven and published by John Wiley & Sons. This book was released on 2002-10-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how an organization can measure and manage performance with the Balanced Scorecard methodology. It provides extensive background on performance management and the Balanced Scorecard, and focuses on guiding a team through the step-by-step development and ongoing implementation of a Balanced Scorecard system. Corporations, public sector agencies, and not for profit organizations have all reaped success from the Balanced Scorecard. This book supplies detailed implementation advice that is readily applied to any and all of these organization types. Additionally, it will benefit organizations at any stage of Balanced Scorecard development. Regardless of whether you are just contemplating a Balanced Scorecard, require assistance in linking their current Scorecard to management processes, or need a review of their past measurement efforts, Balanced Scorecard Step by Step provides detailed advice and proven solutions.

Corporate Governance

Author : Robert A. G. Monks
Publisher : Wiley-Blackwell
ISBN 13 : 9781405116985
Total Pages : 584 pages
Book Rating : 4.1/5 (169 download)

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Book Synopsis Corporate Governance by : Robert A. G. Monks

Download or read book Corporate Governance written by Robert A. G. Monks and published by Wiley-Blackwell. This book was released on 2003-12-19 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the dramatic series of corporate meltdowns: Enron; Tyco; Adelphia; WorldCom; the timely new edition of this successful text provides students and business professionals with a welcome update of the key issues facing managers, boards of directors, investors, and shareholders. In addition to its authoritative overview of the history, the myth and the reality of corporate governance, this new edition has been updated to include: analysis of the latest cases of corporate disaster; An overview of corporate governance guidelines and codes of practice in developing and emerging markets new cases: Adelphia; Arthur Andersen; Tyco Laboratories; Worldcom; Gerstner's pay packet at IBM Once again in the new edition of their textbook, Robert A. G. Monks and Nell Minow show clearly the role of corporate governance in making sure the right questions are asked and the necessary checks and balances in place to protect the long-term, sustainable value of the enterprise. A CD-ROM containing a comprehensive case study of the Enron collapse, complete with senate hearings and video footage, accompanies the text. Further lecturer resources and links are available at www.blackwellpublishing.com/monks

Executive Compensation and Shareholder Value

Author : Jennifer Carpenter
Publisher : Springer Science & Business Media
ISBN 13 : 1475751923
Total Pages : 159 pages
Book Rating : 4.4/5 (757 download)

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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.

The Power of Ethical Management

Author : Norman V. Peale
Publisher : Harper Collins
ISBN 13 : 0688070620
Total Pages : 154 pages
Book Rating : 4.6/5 (88 download)

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Book Synopsis The Power of Ethical Management by : Norman V. Peale

Download or read book The Power of Ethical Management written by Norman V. Peale and published by Harper Collins. This book was released on 1988-02-11 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ethics in business is the most urgent problem facing America today. Now two of the best-selling authors of our time, Kenneth Blanchard and Norman Vincent Peale, join forces to meet this crisis head-on in this vitally important new book. The Power of Ethical Management proves you don't have to cheat to win. It shows today's managers how to bring integrity back to the workplace. It gives hard-hitting, practical, ethical strategies that build profits, productivity, and long-term success. From a straightforward three-step Ethics Check that helps you evaluate any action or decision, to the "Five P's" of ethical behavior that will clarify your purpose and your goals, The Power of Ethical Management gives you an immensely useful set of tools. These can be put to work right away to enhance the performance of your business and to enrich the quality of your life. The Power of Ethical Management is no theoretical treatise; Peale and Blanchard speak from their own enormous and unique experience, They reveal the nuts and bolts, practical strategies for ethical decisions that will show you why integrity pays. "So Vince Lombardi was wrong. Winning is not the only thing as headlines and hearings from Wall Street to Washington confirm. Now comes a better game plan from the powerful one-two punch of Ken Blanchard and Norman Vincent Peale in a quickreading new book, The Power of Ethical Management. Peale and Blanchard may be the best thing that has happened to business ethics since Mike Wallace invented 60 Minutes. -- JOHN MACK CARTIERDDEditor-in-ChiefDDGood Housekeeping/DIV

No Logo

Author : Naomi Klein
Publisher : Macmillan
ISBN 13 : 9780312203436
Total Pages : 520 pages
Book Rating : 4.2/5 (34 download)

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Book Synopsis No Logo by : Naomi Klein

Download or read book No Logo written by Naomi Klein and published by Macmillan. This book was released on 2000-01-15 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: "What corporations fear most are consumers who ask questions. Naomi Klein offers us the arguments with which to take on the superbrands." Billy Bragg from the bookjacket.

Corporate Governance Around the World

Author : Ahmed Naciri
Publisher : Routledge
ISBN 13 : 1134087888
Total Pages : 545 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Corporate Governance Around the World by : Ahmed Naciri

Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.

Smartups

Author : Rob Ryan
Publisher : Cornell University Press
ISBN 13 : 9780801488313
Total Pages : 244 pages
Book Rating : 4.4/5 (883 download)

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Book Synopsis Smartups by : Rob Ryan

Download or read book Smartups written by Rob Ryan and published by Cornell University Press. This book was released on 2002 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ryan focuses on methods he has developed over the years for building a sustainable business that makes money. He shows how to turn an idea into real product.

Tales from the Pit

Author : David G. Schwartz
Publisher : Gambling Studies
ISBN 13 : 9781939546098
Total Pages : 0 pages
Book Rating : 4.5/5 (46 download)

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Book Synopsis Tales from the Pit by : David G. Schwartz

Download or read book Tales from the Pit written by David G. Schwartz and published by Gambling Studies. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dealing in a casino presents challenges and rewards not seen in many workplaces. With hundreds of thousands of dollars at stake every minute, table games pits are high-stress workplaces. Managing a workforce of dealers and attending to the needs of players brings stresses of its own. In 2015, the University of Nevada, Las Vegas's Center for Gaming Research received a grant from the UNLV University Libraries Advisory Board that enabled it to undertake an oral history project intended to capture the stories of table games managers, including both those currently working in the field and those who have retired. Drawn from these interviews, Tales from the Pit provides an overview of how the interviewees felt about a variety of topics, ranging from their experiences breaking in as new dealers to their transitions to management and the changes the industry has seen over their careers. The current and former managers speak candidly about the owners, bosses, dealers, and players who made each day challenging. This book illuminates the past several decades of casino history through the words of those who lived and made it.

The Cambridge Handbook of Compliance

Author : Benjamin van Rooij
Publisher : Cambridge University Press
ISBN 13 : 1108754139
Total Pages : 1559 pages
Book Rating : 4.1/5 (87 download)

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Book Synopsis The Cambridge Handbook of Compliance by : Benjamin van Rooij

Download or read book The Cambridge Handbook of Compliance written by Benjamin van Rooij and published by Cambridge University Press. This book was released on 2021-05-20 with total page 1559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compliance has become key to our contemporary markets, societies, and modes of governance across a variety of public and private domains. While this has stimulated a rich body of empirical and practical expertise on compliance, thus far, there has been no comprehensive understanding of what compliance is or how it influences various fields and sectors. The academic knowledge of compliance has remained siloed along different disciplinary domains, regulatory and legal spheres, and mechanisms and interventions. This handbook bridges these divides to provide the first one-stop overview of what compliance is, how we can best study it, and the core mechanisms that shape it. Written by leading experts, chapters offer perspectives from across law, regulatory studies, management science, criminology, economics, sociology, and psychology. This volume is the definitive and comprehensive account of compliance.

Tax and Corporate Governance

Author : Wolfgang Schön
Publisher : Springer Science & Business Media
ISBN 13 : 3540772766
Total Pages : 423 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis Tax and Corporate Governance by : Wolfgang Schön

Download or read book Tax and Corporate Governance written by Wolfgang Schön and published by Springer Science & Business Media. This book was released on 2008-03-12 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic research shows that well-known principal-agent and capital market problems are strongly influenced by tax considerations. Against this background, this volume is the first to present a fully-fledged overview of the interdependence of tax and corporate governance. Not only the basic political, legal and economic questions but also major topics like income measurement, shareholding structures, corporate social responsibility and tax shelter disclosure are covered.

Process Engineering and Industrial Management

Author : Jean-Pierre Dal Pont
Publisher : John Wiley & Sons
ISBN 13 : 1118565983
Total Pages : 382 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Process Engineering and Industrial Management by : Jean-Pierre Dal Pont

Download or read book Process Engineering and Industrial Management written by Jean-Pierre Dal Pont and published by John Wiley & Sons. This book was released on 2013-03-04 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Process Engineering, the science and art of transforming raw materials and energy into a vast array of commercial materials, was conceived at the end of the 19th Century. Its history in the role of the Process Industries has been quite honorable, and techniques and products have contributed to improve health, welfare and quality of life. Today, industrial enterprises, which are still a major source of wealth, have to deal with new challenges in a global world. They need to reconsider their strategy taking into account environmental constraints, social requirements, profit, competition, and resource depletion. “Systems thinking” is a prerequisite from process development at the lab level to good project management. New manufacturing concepts have to be considered, taking into account LCA, supply chain management, recycling, plant flexibility, continuous development, process intensification and innovation. This book combines experience from academia and industry in the field of industrialization, i.e. in all processes involved in the conversion of research into successful operations. Enterprises are facing major challenges in a world of fierce competition and globalization. Process engineering techniques provide Process Industries with the necessary tools to cope with these issues. The chapters of this book give a new approach to the management of technology, projects and manufacturing. Contents Part 1: The Company as of Today 1. The Industrial Company: its Purpose, History, Context, and its Tomorrow?, Jean-Pierre Dal Pont. 2. The Two Modes of Operation of the Company – Operational and Entrepreneurial, Jean-Pierre Dal Pont. 3. The Strategic Management of the Company: Industrial Aspects, Jean-Pierre Dal Pont. Part 2: Process Development and Industrialization 4. Chemical Engineering and Process Engineering, Jean-Pierre Dal Pont. 5. Foundations of Process Industrialization, Jean-François Joly. 6. The Industrialization Process: Preliminary Projects, Jean-Pierre Dal Pont and Michel Royer. 7. Lifecycle Analysis and Eco-Design: Innovation Tools for Sustainable Industrial Chemistry, Sylvain Caillol. 8. Methods for Design and Evaluation of Sustainable Processes and Industrial Systems, Catherine Azzaro-Pantel. 9. Project Management Techniques: Engineering, Jean-Pierre Dal Pont. Part 3: The Necessary Adaptation of the Company for the Future 10. Japanese Methods, Jean-Pierre Dal Pont. 11. Innovation in Chemical Engineering Industries, Oliver Potier and Mauricio Camargo. 12. The Place of Intensified Processes in the Plant of the Future, Laurent Falk. 13. Change Management, Jean-Pierre Dal Pont. 14. The Plant of the Future, Jean-Pierre Dal Pont.

The Best Democracy Money Can Buy

Author : Greg Palast
Publisher : Penguin
ISBN 13 : 110121323X
Total Pages : 405 pages
Book Rating : 4.1/5 (12 download)

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Book Synopsis The Best Democracy Money Can Buy by : Greg Palast

Download or read book The Best Democracy Money Can Buy written by Greg Palast and published by Penguin. This book was released on 2003-02-25 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Palast is astonishing, he gets the real evidence no one else has the guts to dig up." Vincent Bugliosi, author of None Dare Call it Treason and Helter Skelter Award-winning investigative journalist Greg Palast digs deep to unearth the ugly facts that few reporters working anywhere in the world today have the courage or ability to cover. From East Timor to Waco, he has exposed some of the most egregious cases of political corruption, corporate fraud, and financial manipulation in the US and abroad. His uncanny investigative skills as well as his no-holds-barred style have made him an anathema among magnates on four continents and a living legend among his colleagues and his devoted readership. This exciting collection, now revised and updated, brings together some of Palast's most powerful writing of the past decade. Included here are his celebrated Washington Post exposé on Jeb Bush and Katherine Harris's stealing of the presidential election in Florida, and recent stories on George W. Bush's payoffs to corporate cronies, the payola behind Hillary Clinton, and the faux energy crisis. Also included in this volume are new and previously unpublished material, television transcripts, photographs, and letters.