The Effects of Research and Development Intensity on Managerial Compensation in Large Organizations

Agency theory, leading edge, and administrative life cycle perspectives all predict that organizations having high levels of Research and Development (R&D) intensity will follow different compensation strategies than organizations that are less R&D intensive. Using data from 110 organizations over a 5 year period, and controlling for organization differences in employee and job characteristics, we found support for this general prediction. Specifically, high R&D intensity organizations tended to have higher relative base pay, higher relative bonus pay, and greater relative eligibility for long-term incentive payments. We discuss the importance of further research into compensation decisions in R&D intensive firms, particularly the effects of such decisions on firms\u27 competitiveness

Governance and Financial Fragility: Evidence from a Cross-Section of Countries

The author explores the role of governance mechanisms as a means of reducing financial fragility. First, he develops a simple theoretical general-equilibrium model in which instability arises due to an agency problem resulting from a conflict of interest between the borrower and lender. In particular, when governance is weak and transaction costs are high, the share of capital assets that creditors can claim as collateral is highly sensitive to shocks. As a result, there is financial fragility, in that the willingness of agents to finance productive investments is sensitive to shocks. Second, using a data set that contains over 90 industrialized and developing economies, the author tests the hypothesis that governance is important in explaining financial fragility (measured as the likelihood of a banking crisis and investment volatility). His results show that institutions, rules, and laws that govern the financial environment are of first-order importance for the stability of financial systems. The author finds that, while better legal systems are particularly important, so are democratic institutions that limit the power of the executive.

Online korean skincare decision support system

Despite the explosive growth of electronic commerce and the rapidly increasing number of consumers who use interactive media for pre-purchase information search and online shopping, very little is known about how consumers make purchase decisions in such settings. One desirable form of interactivity from a consumer perspective is the implementation of sophisticated tools to assist shoppers in their purchase decisions by customizing the electronic shopping environment to their individual preferences

Escalating Commitment: Business Investments and CSR

There are many instances, in all areas of business, in which individuals can become committed to a course of action that begins costing more than it is producing. Because it is often possible for persons who have suffered a setback to recoup their losses through an even greater commitment of resources to the same course of action, a cycle of escalating commitment can be produced (Staw, 1981). This thesis serves to address prior literature and prior studies based on the theory of escalation behavior . We furthered our research by conducting an experiment using university students to test certain said theory with the incorporation of specific variables (i.e. tax-avoidance strategies vs. sustainable investing). As such, this thesis was designed with the purpose of trying to understand why such behavior exists and what factors may have significant influence on the cycle known as escalating commitment

Financial Distress in Chinese Industry:Microeconomic, Macroeconomic and Institutional Infuences

We study the impact of both microeconomic factors and the macroeconomy on the financial distress of Chinese listed companies over a period of massive economic transition, 1995 to 2006. Based on an economic model of financial distress under the institutional setting of state protection against exit, and using our own firm-level measure of distress, we find important impacts of firm characteristics, macroeconomic instability and institutional factors on the hazard rate of financial distress. The results are robust to unobserved heterogeneity at the firm level, as well as those shared by firms in similar macroeconomic founding conditions. Comparison with related studies for other economies highlights important policy implications

Financial Distress in Chinese Industry:Microeconomic, Macroeconomic and Institutional Influences

We study the impact of both microeconomic factors and the macroeconomy on the financial distress of Chinese listed companies over a period of massive economic transition, 1995 to 2006. Based on an economic model of financial distress under the institutional setting of state protection against exit, and using our own firm-level measure of distress, we find important impacts of firm characteristics, macroeconomic instability and institutional factors on the hazard rate of financial distress. The results are robust to unobserved heterogeneity at the firm level, as well as those shared by firms in similar macroeconomic founding conditions. Comparison with related studies for other economies highlights important policy implications

Prioritising the best use of biomass resources: conceptualising trade-offs

02.09.13 KB. Ok to add report to Spiral. Authors hold copyrightUsing biomass to provide energy services is one of the most versatile options for increasing the proportion of renewable energy in the existing system. This report reviews metrics used to compare alternative bio-energy pathways and identifies limitations inherent in the way that they are calculated and interpreted. It also looks at how companies and investors approach strategic decisions in the bio-energy area. Bio-energy pathways have has physical and economic attributes that can be measured or modelled. These include: the capital cost, operating cost, emissions to air, land and water. Conceptually, comparing alternative pathways is as simple as selecting the attributes and metrics you consider to be most important and ranking the alternative pathways accordingly. At an abstract level there is good agreement about which features of bio-energy pathways are desirable, but there is little agreement about which performance metrics best capture all the relevant information about a bio-energy pathway. Between studies there is also a great deal of variation and this impedes comparison. Common metrics describe energetic performance, economic performance, environmental performance (emissions, land and water use), and social and ecological performance. Compound metrics may be used to integrate multiple attributes but their highly aggregate nature may make them difficult to interpret. Insights that may be drawn from the analysis include:

Volunteering Reinvented: Human Capital Solutions for the Nonprofit Sector

To grow and adapt in today's continuously changing society, a nonprofit organization must recognize the value and contribution of both its paid staff and volunteers. Simply recruiting large numbers of volunteers, however, does not necessarily translate into success for the nonprofit sector or the community at large. Successful results are achieved when an organization is able to support, mobilize, and manage its volunteer resources for the greatest possible impact on a problem or need.In a competitive environment where resources are often scarce, nonprofit executives and boards of directors have become more strategic about how they leverage the various resources at their disposal:money, space, inkind donations, equipment, technology, and employees. Unfortunately, however, one of the most powerful and plentiful resources of all -- volunteers -- continues to receive short shrift from nonprofit leadership. This paper is intended to educate nonprofit executives about volunteering as a key human resource strategy, illustrate that volunteering is not just nice but necessary, and demonstrate the value volunteers bring to an organization that strategically plans for how to use them both to support infrastructure and to deliver programs and services