This study examines the link between corporate governance and employment policies in Russian firms between 1997-2004. The researchers estimate a proxy for private benefits of control using a voting premium model. They then relate this proxy to labor market outcomes like wages and wage arrears. They find wages are higher and arrears lower in firms with more severe governance problems, suggesting expropriation of shareholders implies more generous worker policies. However, this only holds when ownership is dispersed, not when a majority owner controls the firm.
stock and the firm capabilities, these are the article related to stock liquidity and firm risk taking and also shows the relation between stock liquidity and corporate governance
This study investigates the role of adverse working conditions in the determination of individual wages and overall job satisfaction in the Finnish labour market. The potential influence of adverse working conditions on self-reported fairness of pay at the workplace is considered as an alternative, indirect measure of job satisfaction. The results show that working conditions have a very minor role in the determination of individual wages in the Finnish labour market. In contrast, adverse working conditions substantially increase the level of job dissatisfaction and the perception of unfairness of pay at the workplace
stock and the firm capabilities, these are the article related to stock liquidity and firm risk taking and also shows the relation between stock liquidity and corporate governance
This study investigates the role of adverse working conditions in the determination of individual wages and overall job satisfaction in the Finnish labour market. The potential influence of adverse working conditions on self-reported fairness of pay at the workplace is considered as an alternative, indirect measure of job satisfaction. The results show that working conditions have a very minor role in the determination of individual wages in the Finnish labour market. In contrast, adverse working conditions substantially increase the level of job dissatisfaction and the perception of unfairness of pay at the workplace
Financial Distress Prediction With Altman Z-Score And Effect On Stock Price: ...inventionjournals
: This study aimed to obtain empirical evidence about the state of financial distress prediction using the Altman Z-score and ratio-ratio test Z-score in influencing the price of shares in the chemical subsectors listed in Indonesia Stock Exchange 2009-2014 period. The samples were determined by purposive sampling, while data processing using Microsoft Excel, and SPSS. Financial distress only occurs in ETWA company in 2014 in the category of bankruptcy. Effect of a Z-score to the stock price is significantly 0.004 and ratio-ratio of the Altman Z score is working capital to total assets have no significant effect amounted to 0,085, retained earnings to total assets have no significant effect amounted to 0,478, EBIT to total assets have a significant influence amounted to 0,016, and the book value of equity to book value of total debt had no significant effect of 0.078. Contribution ratio-ratio Altman Z-score of 48.6% to the stock price. In conclusion, the financial distress that are in reasonably good condition. Z-score can be used to predict stock prices, and ratios of Z-score only ebit to total assets can significantly affect stock prices partially.
International Journal of Business and Management Invention (IJBMI) inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
In this paper the distribution of pay changes in the Finnish industry 1997–2000 across employees and plants is examined. The study supports the hypothesis that such pay measures that are more closely dependent on contracts exhibit less variation in pay. It is also shown that pay cuts and pay rises are concentrated to certain plants and to a rather large extent to the same plants.
Financial Distress Prediction With Altman Z-Score And Effect On Stock Price: ...inventionjournals
: This study aimed to obtain empirical evidence about the state of financial distress prediction using the Altman Z-score and ratio-ratio test Z-score in influencing the price of shares in the chemical subsectors listed in Indonesia Stock Exchange 2009-2014 period. The samples were determined by purposive sampling, while data processing using Microsoft Excel, and SPSS. Financial distress only occurs in ETWA company in 2014 in the category of bankruptcy. Effect of a Z-score to the stock price is significantly 0.004 and ratio-ratio of the Altman Z score is working capital to total assets have no significant effect amounted to 0,085, retained earnings to total assets have no significant effect amounted to 0,478, EBIT to total assets have a significant influence amounted to 0,016, and the book value of equity to book value of total debt had no significant effect of 0.078. Contribution ratio-ratio Altman Z-score of 48.6% to the stock price. In conclusion, the financial distress that are in reasonably good condition. Z-score can be used to predict stock prices, and ratios of Z-score only ebit to total assets can significantly affect stock prices partially.
International Journal of Business and Management Invention (IJBMI) inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
In this paper the distribution of pay changes in the Finnish industry 1997–2000 across employees and plants is examined. The study supports the hypothesis that such pay measures that are more closely dependent on contracts exhibit less variation in pay. It is also shown that pay cuts and pay rises are concentrated to certain plants and to a rather large extent to the same plants.
Экономические результаты деятельности HR подразделенияvarlamovdenis
Минина Вера Николаевна, проф., зав. кафедрой организационного поведения и управления персоналом ВШМ. Экономические результаты деятельности HR подразделения
January 23rd, 2012
What Is CEO Talent Worth?
By Professor, David F. Larcker and Brian Tayan, Researcher, Corporate Governance Research Program, Stanford Graduate School of Business
January 24, 2012
The topic of executive compensation elicits strong emotions among corporate stakeholders and practitioners. On the one hand are those who believe that chief executive officers in the United States are overpaid. On the other hand are those who believe that CEOs are simply paid the going fair-market rate.
Much less effort, however, is put into determining whether total compensation is commensurate with the value of services rendered.
We examine the issue and explain how such a calculation might be performed. We ask:
* How much value creation should be attributable to the efforts of the CEO?
* What percentage of this value should be fairly offered as compensation?
* Can the board actually perform this calculation? If not, how does it make rational decisions about pay levels?
Read the attached Closer Look and let us know what you think!
Corporate governance and bank performance: Empirical evidence from Nepalese f...Rajesh Gupta
This paper examines the effects of corporate governance on bank performance in the context of Nepal. Return on assets (ROA) and return on equity (ROE) are dependent variables for bank performance, and board size, female board members, financial institutions, CEO duality, independent directors, firm size, firm age, earnings per share, and the capital adequacy ratio are independent variables for corporate governance.
119E ECUTIVE BAR AININ CEOS NE OTIATIN THEIR PAWITH EMSantosConleyha
119
E ECUTIVE BAR AININ : CEOS NE OTIATIN THEIR PA
WITH EMPLO EES OR CORPORATE E ICIENC
By Nathan Witkin
I INTRODUCTION
Rising executive pay is a significant problem that points to a structural
flaw in American corporations. This article presents a solution to that flaw
through which Chief Executive Officers (CEOs) negotiate their pay in
company resources with lower-paid employees. Exploring this solution also
unearths an explanation for capitalism s apparent drive toward inequality and
examines the historical development of corporations and trade unions in the
United States.
The problem is that managers and corporate directors will raise pay at the
top so long as that pay-setting process does not consider the pay of average-
and low-wage workers. The solution is that CEOs and other top executives
negotiate their pay in company resources with employees in a process that
determines the pay and bonuses of both sides. Microeconomic theory indicates
that confronting the tradeoffs of raising executive compensation with other
potential corporate expenditures—by negotiating this compensation with
workers from different parts of the company—will make executive
compensation more efficient.1 Also, historical analysis indicates a pattern in
which executive compensation became aligned with public interest only during
the period in which workers had significant power to negotiate their wages and
Master of Public Policy Candidate at eorgetown University s McCourt School of Public
Policy J.D., The Ohio State Moritz College of Law. The Author is an independent researcher,
originator of a variety of social innovations (co-resolution, interest group mediation, consensus
arbitration, dependent advocacy, the popular tax audit, the hostile correction, a partnership
between citizen review boards and community policing, and a two-state/one-land solution to the
Israeli-Palestinian conflict), and author of several ambitious theories (the shift in sovereignty
from land to people under international treaties, the use of impact bonds as a solution to climate
change, and resistance to the accelerating expansion of the universe as the cause of gravitation).
He is also a former solo-practitioner in criminal and family law.
1 N. RE OR MAN IW, PRINCIPLES O MICROECONOMICS ( th ed. 2012) (describing the first
principle of microeconomics as centered on trade-offs). Many basic microeconomic models
involve trade-offs between potential allocations of resources to achieve efficiency. See DAVID
BESAN O RONALD R. BRAEUTI AM, MICROECONOMICS 20 07 (5th ed. 201 ).
120 KAN. J.L. & P B. POL’Y Vol. I :1
benefits. This is not to say that the solution to executive compensation is a
return to unions, which developed as a separate organizational structure with
their own flaws and inefficiencies. Rather, a corporation that synthesizes the
inputs of all its employees will be able to maximize efficiency and
productivity, producing profits for shareholders and growth for the overall
econ ...
119E ECUTIVE BAR AININ CEOS NE OTIATIN THEIR PAWITH EMBenitoSumpter862
119
E ECUTIVE BAR AININ : CEOS NE OTIATIN THEIR PA
WITH EMPLO EES OR CORPORATE E ICIENC
By Nathan Witkin
I INTRODUCTION
Rising executive pay is a significant problem that points to a structural
flaw in American corporations. This article presents a solution to that flaw
through which Chief Executive Officers (CEOs) negotiate their pay in
company resources with lower-paid employees. Exploring this solution also
unearths an explanation for capitalism s apparent drive toward inequality and
examines the historical development of corporations and trade unions in the
United States.
The problem is that managers and corporate directors will raise pay at the
top so long as that pay-setting process does not consider the pay of average-
and low-wage workers. The solution is that CEOs and other top executives
negotiate their pay in company resources with employees in a process that
determines the pay and bonuses of both sides. Microeconomic theory indicates
that confronting the tradeoffs of raising executive compensation with other
potential corporate expenditures—by negotiating this compensation with
workers from different parts of the company—will make executive
compensation more efficient.1 Also, historical analysis indicates a pattern in
which executive compensation became aligned with public interest only during
the period in which workers had significant power to negotiate their wages and
Master of Public Policy Candidate at eorgetown University s McCourt School of Public
Policy J.D., The Ohio State Moritz College of Law. The Author is an independent researcher,
originator of a variety of social innovations (co-resolution, interest group mediation, consensus
arbitration, dependent advocacy, the popular tax audit, the hostile correction, a partnership
between citizen review boards and community policing, and a two-state/one-land solution to the
Israeli-Palestinian conflict), and author of several ambitious theories (the shift in sovereignty
from land to people under international treaties, the use of impact bonds as a solution to climate
change, and resistance to the accelerating expansion of the universe as the cause of gravitation).
He is also a former solo-practitioner in criminal and family law.
1 N. RE OR MAN IW, PRINCIPLES O MICROECONOMICS ( th ed. 2012) (describing the first
principle of microeconomics as centered on trade-offs). Many basic microeconomic models
involve trade-offs between potential allocations of resources to achieve efficiency. See DAVID
BESAN O RONALD R. BRAEUTI AM, MICROECONOMICS 20 07 (5th ed. 201 ).
120 KAN. J.L. & P B. POL’Y Vol. I :1
benefits. This is not to say that the solution to executive compensation is a
return to unions, which developed as a separate organizational structure with
their own flaws and inefficiencies. Rather, a corporation that synthesizes the
inputs of all its employees will be able to maximize efficiency and
productivity, producing profits for shareholders and growth for the overall
econ ...
Korean economy undergoes pre-modernized corporate governance. Financial-market imperfections assumed to be incorporated in equity ratio affect the sensitivity of internal funds to physical investment. Empirical analyses show that the effects of asymmetric information are significant. Theories predict that internal finance is less costly than borrowing or issuing equity. Higher cash flow from higher profits affects investment ratio. But, this marginal effect is decreased by equity ratio. If we assume that more imperfect financial market requires more equity than borrowing, we can see that agency costs change the way economic variables like cash flow affect physical investment. Cash flow plays two opposite roles for implementing investment. In the case of financial-imperfections, we can expect that firms with higher profits invest more. But, according to free cash flow hypothesis by Jensen (1986), managers with only a small ownership interest have an incentive for wasteful management. We can expect to see more wasteful activity in a firm with large cash flows. Our regression result shows that the former dominates the latter, so we get positive coefficient for cash flow variable on the physical investment.
This research investigates the determinants of the capital structure of firms listed service sector on BIST(Borsa Istanbul) and the adjustment process towards this target. The econometric analysis employs the Generalized Method of Moments estimators (GMM-Sys, GMM difference) techniques that controls for unobserved firm-specific effects and the endogeneity problem. The findings of the paper suggest that firms have target leverage ratios and they adjust to them relatively fast. Consistent with the predictions of capital structure theories and the findings of the empirical literature, the results of this paper suggest that size, assets tangibility, profitability, growth opportunity except earnings volatility have significant effects on the capital structure choice of hotels and restaurants.The capital structure or leverage is measured by total debt ratio. Analysis results indicates that firms with high profits, sizable, high fixed assets ratio and high total sales and more growth opportunities tend to have relatively less debt in their capital structures.
We find that IPO firms with generously compensated CEOs and large pay disparities between the CEO and other top executives have lower failure rates and longer time to survive in subsequent periods following the offering. Economically, firms with CEO pay (pay gaps) in the 75th percentile have a failure risk that is, on average, 11.56% (13.20%) lower than the failure risk of firms with CEO pay (pay gaps) in the 25th percentile. The relationship between CEO pay and IPO survival is strengthened among firms with lower agency conflicts, whereas the link between pay gap and IPO survival is pronounced among firms with stronger internal promotion incentives. The results are robust to alternative specifications and additional sensitivity tests.
We find that IPO firms with generously compensated CEOs and large pay disparities between the CEO and other top executives have lower failure rates and longer time to survive in subsequent periods following the offering. Economically, firms with CEO pay (pay gaps) in the 75th percentile have a failure risk that is, on average, 11.56% (13.20%) lower than the failure risk of firms with CEO pay (pay gaps) in the 25th percentile. The relationship between CEO pay and IPO survival is strengthened among firms with lower agency conflicts, whereas the link between pay gap and IPO survival is pronounced among firms with stronger internal promotion incentives. The results are robust to alternative specifications and additional sensitivity tests.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Об особенностях оборота нефти и нефтепродуктов в РФvarlamovdenis
ФАС России подготовила законопроект, направленный на создание условий для эффективного функционирования рынков нефти и нефтепродуктов - "Об особенностях оборота нефти и нефтепродуктов в РФ". Проект Федерального закона регулирует особенности отношений, возникающих при производстве (добыче), торговле, хранении и транспортировке нефти и нефтепродуктов.
Введение 3
1. Рынок мобильных приложений 4
2. Мобильные приложения, разработанные для продажи в App Store. 8
3. Факторы успеха в продвижении мобильного приложения (на примере Angry Birds) 11
4. Брендированные приложения 19
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
1.4 modern child centered education - mahatma gandhi-2.pptx
Owners, Managers, and Workers
1. Owners, managers, and workers: An empirical study of the link between corporate governance and employment policies of firms Alexander Muravyev (IZA, Bonn) Irina Berezinets (GSOM, St. Petersburg) Yulia Ilina (GSOM, St. Petersburg) Graduate School of Management, St. Petersburg State University April 2010
2. This project is supported by the Moscow Public Scientific Foundation (MPSF), sponsored by the United States Agency for International Development (USAID). The opinions expressed in this presentation are the authors' opinions and may differ from the opinions of USAID and/or MPSF. Owners, managers, and workers: an empirical study of the link between corporate governance and employment policies of firms by Alexander Muravyev, Irina Berezinets, and Yulia Ilina
25. Results: wage residuals on VP residuals Control=dummy for majority control; Cont_sh=dummy (majority control or owner1-owner2 >20%), Downer = owner1-owner2; Downer_1, etc. – quartiles of Downer
26. Results: arrears residuals on VP residuals Control=dummy for majority control; Cont_sh=dummy (majority control or owner1-owner2 >20%), Downer = owner1-owner2; Downer_1, etc. – quartiles of Downer
