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The relationship between executive compensation and corporate performance is a key subject. This paper reviewed relevant literature at home and abroad and summarized important theoretical and empirical studies based on the view of intrinsicalness. Studies have shown that: there is positive correlation between corporate performance and executive compensation, and executive compensation reacts on corporate...
This paper develops a scenario generation framework for modeling demand and supply uncertainties. This framework is applied to a decision problem at an illustrative manufacturing company facing risks caused by uncertainties in end product demand and component availability. In particular, we focus on the impact of interdependent demand and supply uncertainty. To evaluate analytically the impact of...
It still remains unclear whether the decision to outsource IT is governed by rule of efficiency or from institutional constraints imposed by the state and the professions in order to gain legitimacy through institutional isomorphism. Our analysis is based on a unique data set that contains all first-time decisions of publicly listed German firms to engage in large-scale IT outsourcing between 1990...
For the low efficiency and high risk of real estate enterprises in China, we design incentives-supervision model of a real estate enterprise based on principal-agent theory and on some characteristics of the real estate enterprises. Subsequently, in order to improve business performance and lower the risks, we study that how the clients of the real estate enterprises design the compensation for agents...
The psychological contract between organization and employee is not a documented contract. Better fulfillment of the psychological contract is helpful to realize the organization entire goals and improve organizational performance. Peripheral performance is an important part of the performance of employees. Good peripheral performance plays an irreplaceable role on employee loyalty, job performance...
This thesis studies the impact of ultimate controlling shareholders on the earnings quality of the listed companies. Taking A-share companies that went public during 2008–2011 as samples and measuring earnings quality with discretional accruals, our study discovers that the ultimate controlling shareholders' ownership proportion, the deviation of ownership and control rights as well as the shareholding...
Outsourcing production is one of the main existence modes for China's foreign trade enterprises. Only from the perspective of elements theory of comparative advantage is not adequate. Based on the basic principal-agent models and joining asset-specific variables, this paper tries to analyze the effect of technological innovation for organizational change. Conclusion is that, the popularization of...
The majority of scholars at home and abroad come to the conclusion that the debt has positive governance effect on company performance, while little research on debt restriction on company activities. This paper study the restrictive terms of bank loans how to influence agency costs and operating activities of listed companies. This paper used the data of our Shanghai and Shenzhen A-share listed companies...
In this study, the authors used 250 samples in China to examine the main effects and the interaction effects of psychological contract violation and negative reciprocity beliefs on workplace deviance. The results showed that psychological contract violation and negative reciprocity beliefs were both positively related to organizational and interpersonal deviance. But, not all employees would strike...
The listing of a new asset requires the knowledge of its statistical properties prior to its use for hedging, speculative or risk management purposes. In this paper, we study the stylized facts of European Union Allowances (EUAs) returns. The majority of the phenomena observed, such as heavy tails, volatility clustering, asymmetric volatility and the presence of a high number of outliers are similar...
This paper presents the efficiency measurement model that has been developed based on data envelopment analysis. The model is intended for products produced by organization, optimizes a ratio of multiple weighted outputs to a multiple weighted inputs, where the efficient unit will have a score of one, and the inefficient unit will have a score less than one. The model is simple yet practical in implementation...
Sampled on in Chinese listed companies in 2005-2008 used the Panel date model, this paper discussed how capital structure influent the top managerial compensation. From the empirical research, I find a significant positive association between compensation and capital structure. And the significance level is higher in state-owned companies than in privately-owned companies.
The canonical correlation analysis reveals the authentic relationship between business incubation networking operating mechanism and incubation performance. Empirical analysis testify that there are interactive intensified relationship between operating mechanism, and the operating mechanism could explain better incubation performance, and there are close correlations between the mechanism and performance...
This paper examines that the investors do not ignore but overestimate the earnings persistence, which rejects the earnings persistence hypothesis for the post earnings-announcement drift. Investors have more concerns about the past accounting information than the current accounting information probably because of the conservatism in the information uncertainty. Investors are not able to distinguish...
Using the dates come from 569 companies listed before 2006, we test the factors which affect the executive equity-based incentive levels and performance. The equity-based incentive performance is significant positive correlation with the levels of executive equity-based incentive. It shows equity-based incentive can improve company performance. When adding interaction variables in equation, we found...
Merton's equity-based approach is considered as a pioneering tool for measuring default risks. But in developing countries, we find that the invalid priority principle of Merton's model-because of the existing soft constraint-put negative influence on the applicability of the model. Bringing soft constraint into consideration, we establish a new model, which adds a new parameter thetas to describe...
The agency theory is the theoretical basis of this paper, which attempts to explain our dividend policy of listed companies, combining with transaction costs. Dividends lead to an increase in external financing, then add agency costs . This paper focuses on demonstrating the close relationship between agency problem and dividend policy of listed companies in Chinese according to theoretical and empirical...
VEAs (Voluntary environmental agreements) environmental management is a kind of environmental policy tool of improving environmental quality on the basis of voluntary participation and in the form of contract, now it has become one kind of new pattern. But there is not a satisfying answer to the question of ldquowhy does a firm participate in VEAs?rdquo this paper will study driving factors behind...
Western risk management theory suggests that corporate risk management is due to tax convexity, financial distress costs, under investment problem, and managerial risk aversion etc. This paper provides evidence on the determinants of corporate risk management policies through hedging. Data on hedging are obtained from 2007 annual reports for a sample of 1151 China non financial listed firms. Our evidence...
In this paper we discuss the use cases for monitoring of Web services for compliance with policies and service level agreements. In particular, the quality of service associated with Web service interactions and its monitoring rely on the proper use by both parties of related Web service protocols. This monitoring is best served by an event-centric model and an extensible scripting language, such...
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