Top Management Group Pay Disparities: CEO Power and Firm Performance

Top Management Group Pay Disparities: CEO Power and Firm Performance

The issue of pay equity within publicly-traded firms has been a question of growing interest in recent years. Academics, policy-makers, and the general public have become increasingly concerned about the extent to which pay at the highest levels of American business exceeds that received by other workers. Recent studies show that the ratio of CEO pay to that of the average worker grew 380% from a ratio of 107-to-1 in 1990 to a ratio of 411-to-1 in 2005. While attention has been paid to the distribution of pay across the hierarchy of corporations the question of the distribution of pay within top management groups has gone little-studied. Yet, a growing cadre of researchers across multiple disciplines has yielded interesting insights into the antecedents and consequences of pay disparities in top management groups. This book expands on this tradition by introducing a power perspective that seeks to spur further investigation into this strategically relevant phenomenon and to move the current debate beyond extant economic explanations by showing that pay disparities within top management groups arise as a function of the distribution of power with implications for the firm.

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CEO Compensation, Compensation Risk, and Coporate Governance

CEO Compensation, Compensation Risk, and Coporate Governance

Literature suggests that CEOs of technology firms earn higher pay than CEOs of non-technology firms. I investigate whether compensation risk explains the difference in compensation between technology firms and non-technology firms. Controlling for firm size and performance, I find that CEOs in technology firms have higher pay, but also have much higher compensation risk compared to non-technology firms. Compensation risk explains the major part of the difference in CEO pay. My study is consistent with the labor market economics view that CEOs earn competitive risk-adjusted total compensation.

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A Comparison Study on the Performance Effects of Variable Pay Systems

A Comparison Study on the Performance Effects of Variable Pay Systems

Variable pay systems are used in various forms and intensities all over the world at all organizational levels, from the top management to blue-collar employees. In the current economic situation, competition is increasing, the growth rate is decreasing, and markets are getting saturated. In the age of globalization, markets are getting deregulated, and people are well educated. Individualism and self-determination is part of people’s mentality. This leads to the question, are established management concepts still successful in today’s business world? Organizations today are under continued pressure to improve their business so they can keep up with competition and show excellence performance. Employers continuously want to enhance the effectiveness and efficiency of their business. Among other things the motivation of employees can lead to these effects. Companies hope to improve the motivation of employees through variable pay systems, which results in positive effects on the company’s performance, profitability and success. Motivation cannot be measured and monitored objectively. But the results followed by motivation, such as performance effects, can. Variable pay systems become an important point of interest in today’s companies. They are management tools which should give executives, top-management, and the whole workforce orientation.

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Supply Chain Management Performance

Supply Chain Management Performance

These days, consideration on the impact of supply chain strategy on firm performance has dramatically increased. Meanwhile, researchers argue that information system strategy should support the supply chain requirements in order to increase the supply chain performance and firm performance. Each supply chain strategy has certain aim and tries to achieve it.This book attempts to determine which kind of information system strategy could be match in a best manner to meet the supply chain strategy, which is applied. In order to achieve that goal,this book assesses the impact of aligning supply chain strategies with information system strategies on supply chain performance and firm performance. Overall, the results of this study indicate that aligning Supply Chain Management Strategy with Information System Strategy will results in a better supply chain and firm performance.

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Determinants of firm's financial performance

Determinants of firm's financial performance

Firm’s financial performance plays an important role in the survival of a firm in the competitive business environment. It contributes to the economic development and welfare, as well as counts towards the critical success factors of a firm. It is of key interest to the investors and management with regards to the decision making related to a firm including the choice, performance evaluation, strategy and policies formulation, controlling and monitoring the performance of a firm. In this study, the authors have focused on finding the determinants of firm’s financial performance in the context of the Pakistan’s economy. The empirical evidence to support the study was taken from 19 cement firms listed in the Karachi Stock Exchange during 2009- 2013. These firms represent the cement industry of Pakistan; which is one of the top performing and non-financial sector of the economy.

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EXECUTIVE COMPENSATION AND FIRM PERFORMANCE

EXECUTIVE COMPENSATION AND FIRM PERFORMANCE

This study considers the determination of the ex ante pay-performance relationship. A single-period partial equilibrium model is used to show that the executive income can be expressed as a function of the firm''s return expressed in dollar terms. The executive income is jointly determined by the opening firm size and current return, which function as a managerial talent proxy and self-selection mechanism respectively. Comparing to Jensen and Murphy (1990) wealth-based Pay-Performance Sensitivity (PPS), this study presents an income- based PPS. The alternative PPS not only overcomes a misleading misspecification in Jensen and Murphy (1990), but also corrects Rosen''s (1992) argument for only including return in the pay performance relationship. This study finds empirically that both the opening firm size and stock return play a significant role in determining executive income. This study provides supplementary evidence to Murphy''s (1986) Learning Model. However, shareholder income may not be an ideal performance measure in capturing the multi-period pay-performance relationship.

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Remuneration and Reward System

Remuneration and Reward System

Rewards commune the value that organizations place on their employees. To convey the proper messages, remuneration objectives and strategies should be aligned with the overall business strategy of the organization. Knowing alignment will enable organizations to deliver the right type of rewards to the right people, at the right time, and for the right reasons. The best way the organization can deliver the correct reward, is to implement a total reward system together with a total pay system. Effective total pay system covers base pay, skills and competency pay, variable performance pay, recognition, and benefits. Total reward system cover investment in people, development and training, performance management, and career management. Therefore, to motivate and retain employees, and to improve organization’s profitability, a right mix of total pay and total rewards should be made available to employees as employees’ needs differ.

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Strategic Performance Management

Strategic Performance Management

Strategic Performance Management brings together the fields of strategic management, strategic management accounting and organizational behaviour, to analyse and improve the link between organizational strategy, systems of planning and control, and performance-driven behaviour. By assessing market conditions and customer expectations, and linking them to a solid operating plan, an organization can focus its resources on activities that produce the greatest return on investment. Strategic Performance Management teaches readers, whether business students or executives, how to avoid errors and counter ineffectiveness; it provides methods and techniques to implement strategic performance management and support organizations in their pursuit of more performance-driven behaviour and better performance. New to this edition:- New introductory chapter defining strategic performance management, its processes and its benefits- Revised chapter considering ICT architecture for strategic performance management systems- Revised and improved coverage of performance pay, strategic action plans, and barriers for implementing strategic performance management- Updated and revised case studiesStrategic Performance Management is an ideal text for students on MBA programmes, or covering strategic performance management or management control on specialist postgraduate courses or final year undergraduate modules. It will also appeal to business executives keen to build a more successful, and more profitable, organization.

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Greg Fedorinchik Investment Leadership and Portfolio Management. The Path to Successful Stewardship for Investment Firms

Greg Fedorinchik Investment Leadership and Portfolio Management. The Path to Successful Stewardship for Investment Firms

An industry leader candidly examines the role of investment leadership in portfolio management Investment Leadership & Portfolio Management provides a top down analysis of successful strategies, structures, and actions that create an environment that leads to strong macro investment performance and rewarding investor outcomes. By examining how to manage and lead an investment firm through successful investment decision-making processes and actions, this book reveals what it will take to succeed in a radically changed investment landscape. From firm governance and firm structure-for single capability, multi-capability, and investment and product firms-to culture, strategy, vision, and execution, authors Brian Singer, Barry Mandinach, and Greg Fedorinchik touch upon key topics including the differences between leading and managing; investment philosophy, process, and portfolio construction; communication and transparency; and ethics and integrity. Leadership issues in investment firms are a serious concern, and this book addresses those concerns Details the strong correlation between excellence in investment leadership and excellence in portfolio management Written by a group of experienced professionals in the field, including the Chairman of the CFA Institute Board of Governors Understanding how to operate in today's dynamic investment environment is critical. Investment Leadership & Portfolio Management contains the insights and information needed to make significant strides in this dynamic arena.

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