Clawback Provisions in Real Estate Investment Trusts

Using a sample of 195 unique real estate investment trusts (REITs), we examine factors related to the adoption of clawback provisions within managerial compensation contracts. In general, we find strong and consistent empirical evidence that clawback provision are directly related to firm size, complexity, leverage, growth options, monitoring incentives, and CEO performance incentives. We also find that clawbacks are associated with enhanced market and accounting performance, with stronger performance relations observed for adoption decisions tied directly to regulatory mandates. In sum, we conclude compensation clawback provisions represent a value-relevant, strategic governance mechanism for REITs

Observing the clouds : a survey and taxonomy of cloud monitoring

This research was supported by a Royal Society Industry Fellowship and an Amazon Web Services (AWS) grant. Date of Acceptance: 10/12/2014Monitoring is an important aspect of designing and maintaining large-scale systems. Cloud computing presents a unique set of challenges to monitoring including: on-demand infrastructure, unprecedented scalability, rapid elasticity and performance uncertainty. There are a wide range of monitoring tools originating from cluster and high-performance computing, grid computing and enterprise computing, as well as a series of newer bespoke tools, which have been designed exclusively for cloud monitoring. These tools express a number of common elements and designs, which address the demands of cloud monitoring to various degrees. This paper performs an exhaustive survey of contemporary monitoring tools from which we derive a taxonomy, which examines how effectively existing tools and designs meet the challenges of cloud monitoring. We conclude by examining the socio-technical aspects of monitoring, and investigate the engineering challenges and practices behind implementing monitoring strategies for cloud computing.Publisher PDFPeer reviewe

A survey of simulation techniques in commerce and defence

Despite the developments in Modelling and Simulation (M&S) tools and techniques over the past years, there has been a gap in the M&S research and practice in healthcare on developing a toolkit to assist the modellers and simulation practitioners with selecting an appropriate set of techniques. This study is a preliminary step towards this goal. This paper presents some results from a systematic literature survey on applications of M&S in the commerce and defence domains that could inspire some improvements in the healthcare. Interim results show that in the commercial sector Discrete-Event Simulation (DES) has been the most widely used technique with System Dynamics (SD) in second place. However in the defence sector, SD has gained relatively more attention. SD has been found quite useful for qualitative and soft factors analysis. From both the surveys it becomes clear that there is a growing trend towards using hybrid M&S approaches

The case for cloud service trustmarks and assurance-as-a-service

Cloud computing represents a significant economic opportunity for Europe. However, this growth is threatened by adoption barriers largely related to trust. This position paper examines trust and confidence issues in cloud computing and advances a case for addressing them through the implementation of a novel trustmark scheme for cloud service providers. The proposed trustmark would be both active and dynamic featuring multi-modal information about the performance of the underlying cloud service. The trustmarks would be informed by live performance data from the cloud service provider, or ideally an independent third-party accountability and assurance service that would communicate up-to-date information relating to service performance and dependability. By combining assurance measures with a remediation scheme, cloud service providers could both signal dependability to customers and the wider marketplace and provide customers, auditors and regulators with a mechanism for determining accountability in the event of failure or non-compliance. As a result, the trustmarks would convey to consumers of cloud services and other stakeholders that strong assurance and accountability measures are in place for the service in question and thereby address trust and confidence issues in cloud computing

Towards a Business Process Complexity Analysis Framework Based on Textual Data and Event Logs

Being an established discipline, Business Process Management (BPM) confronts various challenges related to digitization and rapid penetration of technologies into business processes (BPs). As a result, both generated and used data, such as textual data and event logs, grow exponentially, complicating the decision-making. Event logs are typically used to analyze BPs from several perspectives, including complexity. Recent approaches to BP complexity analyses focus on BP models and event logs, limiting the consideration of textual data. Hence, we propose a BP complexity analysis framework combining textual data and event logs. The framework has been conceptualized based on the IT Service Management (ITSM) case study of an international telecom provider and further developed in the IT department of an academic institution. The latter has also been used to investigate the value of the framework. Our preliminary findings show that the framework can enable comprehensive process redesign and improvements

Animating the evolution of software

The use and development of open source software has increased significantly in the last decade. The high frequency of changes and releases across a distributed environment requires good project management tools in order to control the process adequately. However, even with these tools in place, the nature of the development and the fact that developers will often work on many other projects simultaneously, means that the developers are unlikely to have a clear picture of the current state of the project at any time. Furthermore, the poor documentation associated with many projects has a detrimental effect when encouraging new developers to contribute to the software. A typical version control repository contains a mine of information that is not always obvious and not easy to comprehend in its raw form. However, presenting this historical data in a suitable format by using software visualisation techniques allows the evolution of the software over a number of releases to be shown. This allows the changes that have been made to the software to be identified clearly, thus ensuring that the effect of those changes will also be emphasised. This then enables both managers and developers to gain a more detailed view of the current state of the project. The visualisation of evolving software introduces a number of new issues. This thesis investigates some of these issues in detail, and recommends a number of solutions in order to alleviate the problems that may otherwise arise. The solutions are then demonstrated in the definition of two new visualisations. These use historical data contained within version control repositories to show the evolution of the software at a number of levels of granularity. Additionally, animation is used as an integral part of both visualisations - not only to show the evolution by representing the progression of time, but also to highlight the changes that have occurred. Previously, the use of animation within software visualisation has been primarily restricted to small-scale, hand generated visualisations. However, this thesis shows the viability of using animation within software visualisation with automated visualisations on a large scale. In addition, evaluation of the visualisations has shown that they are suitable for showing the changes that have occurred in the software over a period of time, and subsequently how the software has evolved. These visualisations are therefore suitable for use by developers and managers involved with open source software. In addition, they also provide a basis for future research in evolutionary visualisations, software evolution and open source development