Internal Capital Market and Dividend Policies: Evidence From Business Groups

We argue that internal capital market imperatives of business groups i.e., reallocation of capital across group firms, influences an affiliated firm's dividend policy. Intuition is developed in a model in which business group insiders distribute dividends from cash-rich firms and use their share of payout to invest in other affiliated firms. Employing multi-country panel-data, we find support f…

Valuing Private Equity

We develop a dynamic valuation model of private equity (PE) investments by solving the portfolio-choice problem for a risk-averse investor (LP), who invests in a PE fund, managed by a general partner (GP). Key features are illiquidity, leverage, GP value-adding skills (alpha), and compensation, including management fees and carried interest. We find that the costs of management fees, carried in…

Fair Pay or Power Play? Pay Equity, Managerial Power, and Compensation Adjust…

This study examines how firms use benchmarking information about peers to determine the compensation that they offer to chief executive officers (CEOs). It jointly addresses two distinct perspectives: pay equity and managerial power. Pay inequity provides strong motivation for CEOs to restore equity, by promoting the logic of external fairness and urging boards of directors to implement peer be…

Minding the Gap: Antecedents and Consequences of Top Management-To-Worker Pay…

Management researchers have long been concerned with the antecedents and consequences of managerial compensation. More recently, scholarly and popular attention has turned to the gap in pay between workers at the highest and lowest levels of the organization, or “pay dispersion.” This study investigates the performance implications of pay dispersion on a longitudinal (10-year) sample of pub…

Providing CEOs With Opportunities to Cheat : The Effects of Complexity-Based …

Opportunities for financial reporting fraud arise because of information asymmetries—often labeled “lack of transparency”—between top managers and their diverse shareholders. We evaluate the relative contributions of information asymmetries arising from industry-level and firm-level complexities to the likelihood of top managers committing financial reporting fraud. Using a sample of 45…

Social Comparison and Reciprocity in Director Compensation

In this article, we develop theory regarding one set of mechanisms through which increases in the compensation of directors are transmitted throughout the director labor market. In a longitudinal study using director compensation data from 1996 to 2005, we test hypotheses about how directors’ use of social comparison processes, and reciprocity between CEOs and the board, drive up the compensa…

Tournament Theory: Thirty Years of Contests and Competitions

ournament theory is useful for describing behavior when reward structures are based on relative rank rather than absolute levels of output. Accordingly, management scholars have used tournament theory to describe a wide range of inter- and intraorganizational competitions, such as promotion contests, innovation contests, and competition among franchisees. While the use of tournament theory has …

Assessing Managerial Power Theory A Meta-Analytic Approach to Understanding t…

Although studies about the determinants of CEO compensation are ubiquitous, the balance of evidence for one of the more controversial theoretical approaches, managerial power theory, remains inconclusive. The authors provide a meta-analysis of 219 U.S.-based studies, focusing on the relationships between indicators of managerial power and levels of CEO compensation and CEO pay-performance sensi…

The Complete guide to executive compensation

Includes bibliographies, index and tables

Aligning pay and results : compensation strategies that work from the boardro…

Includes bibliographies and index

Managerial motivation and compensation a selection readings

Includes bibliographies, index and tables.

The Compensation handbook : a state-of-the-art guide to compensation strategy…

Includes bibliographies and index

The effect of restructuring charges on executives' cash compensation

Edisi

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ISBN/ISSN

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Deskripsi Fisik

pp. 138-156

Judul Seri

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No. Panggil

TAR6901

Compensation in organizations : current research and practice

Includes bibliographies, index and tables

Strategic reward systems

Includes bibliographies and index

Managing human resources 6th ed

Includes bibliographies, index and tables

Pengaruh Talent Management dan Kompensasi terhadap Retensi Pegawai Milenial d…

Organisasi harus fokus pada strategi menarik, mempertahankan, dan memanfaatkan bakat terbaik untuk mencapai kesuksesan dalam pasar yang kompetitif. Khususnya, generasi milenial perlu mendapat perhatian karena mayoritas angkatan kerja saat ini. Penelitian menunjukkan bahwa generasi ini cenderung memiliki loyalitas rendah jika perusahaan tidak memenuhi ekspektasi mereka terhadap pekerjaan dan kar…

Founder-CEO Compensation and Selection into Venture Capital-Backed Entreprene…

We show theoretically that a critical determinant of the attractiveness of venture capital (VC)-backed entrepreneurship for high-earning potential founders is the expected time to develop a startup's initial product. This is because founder-CEOs' cash compensation increases substantially after product development, alleviating the nondiversifiable risk that founders face at startup birth. Consis…

Pengaruh Kompensasi dan Stress Kerja terhadap Kinerja dengan Motivasi sebagai…

Kinerja merupakan hasil akhir dan juga proses bagaimana karyawan menyelesaikan tugasnya. Kompensasi, stres kerja dan motivasi merupakan faktor yang dapat mempengaruhi kinerja dalam sebuah organisasi. Kompensasi yang sesuai dan stress kerja yang rendah akan meningkatkan motivasi karyawan dan meningkatkan kinerja. Tujuan penelitian ini adalah untuk mengetahui dampak dari kompensasi, stres kerja d…

Compensation 12 ed

Best selling title. Tackles major compensation from three sides: theory, research, and practice - no situation can survive that onslaught! The 12th edition continues to emphasize the importance of total compensation and its relevance for achieving sustainable competitive advantage. Beyond how much people are paid, how they are paid matters too. Managing pay means ensuring that the right peop…