Do CEOs Ever Lose? Fairness Perspective on the Allocation of Residuals Between CEOs and Shareholders

In this study we introduce a justice perspective to examining the result of bargaining between CEOs and boards over the allocation of firm residuals that ultimately determines CEO compensation. Framing CEO pay as the result of bargaining between CEOs and boards focuses attention on the power of CEOs to increase their share of firm residuals in the form of increased compensation, and the diligence of boards of directors to constrain CEO opportunism. Framing this negotiation through a theory of justice offers an alternative perspective to the search for pay-performance sensitivity. We predict and find that as board diligence in controlling opportunism declines and CEO power increases, CEOs are increasingly able to capture a larger portion of firm residuals relative to shareholders. This finding supports critics who charge that CEO pay violates norms of distributive and procedural justice

Enabling Distributed Knowledge Management: Managerial and Technological Implications

In this paper we show that the typical architecture of current KM systems re.ects an objectivistic epistemology and a traditional managerial control paradigm. We argue that such an objectivistic epistemology is inconsistent with many theories on the nature of knowledge, in which subjectivity and sociality are taken as essential features of knowledge creation and sharing. We show that adopting such a new epistemological view has dramatic consequences at an architectural, managerial and technological level

Applications of Negotiation Theory to Water Issues

The purpose of the paper is to review the applications of non-cooperative bargaining theory to water related issues – which fall in the category of formal models of negotiation. The ultimate aim is that to, on the one hand, identify the conditions under which agreements are likely to emerge, and their characteristics; and, on the other hand, to support policy makers in devising the “rules of the game” that could help obtain a desired result. Despite the fact that allocation of natural resources, especially of trans-boundary nature, has all the characteristics of a negotiation problem, there are not many applications of formal negotiation theory to the issue. Therefore, this paper first discusses the non-cooperative bargaining models applied to water allocation problems found in the literature. Particular attention will be given to those directly modelling the process of negotiation, although some attempts at finding strategies to maintain the efficient allocation solution will also be illustrated. In addition, this paper will focus on Negotiation Support Systems (NSS), developed to support the process of negotiation. This field of research is still relatively new, however, and NSS have not yet found much use in real life negotiation. The paper will conclude by highlighting the key remaining gaps in the literature.Negotiation theory, Water, Agreeements, Stochasticity, Stakeholders

Ethernet - a survey on its fields of application

During the last decades, Ethernet progressively became the most widely used local area networking (LAN) technology. Apart from LAN installations, Ethernet became also attractive for many other fields of application, ranging from industry to avionics, telecommunication, and multimedia. The expanded application of this technology is mainly due to its significant assets like reduced cost, backward-compatibility, flexibility, and expandability. However, this new trend raises some problems concerning the services of the protocol and the requirements for each application. Therefore, specific adaptations prove essential to integrate this communication technology in each field of application. Our primary objective is to show how Ethernet has been enhanced to comply with the specific requirements of several application fields, particularly in transport, embedded and multimedia contexts. The paper first describes the common Ethernet LAN technology and highlights its main features. It reviews the most important specific Ethernet versions with respect to each application field’s requirements. Finally, we compare these different fields of application and we particularly focus on the fundamental concepts and the quality of service capabilities of each proposal

HOMEBOTS: Intelligent Decentralized Services for Energy Management

The deregulation of the European energy market, combined with emerging advanced capabilities of information technology, provides strategic opportunities for new knowledge-oriented services on the power grid. HOMEBOTS is the namewe have coined for one of these innovative services: decentralized power load management at the customer side, automatically carried out by a `society' of interactive household, industrial and utility equipment. They act as independent intelligent agents that communicate and negotiate in a computational market economy. The knowledge and competence aspects of this application are discussed, using an improved \ud version of task analysis according to the COMMONKADS knowledge methodology. Illustrated by simulation results, we indicate how customer knowledge can be mobilized to achieve joint goals of cost and energy savings. General implications for knowledge creation and its management are discussed

Cloudbus Toolkit for Market-Oriented Cloud Computing

This keynote paper: (1) presents the 21st century vision of computing and identifies various IT paradigms promising to deliver computing as a utility; (2) defines the architecture for creating market-oriented Clouds and computing atmosphere by leveraging technologies such as virtual machines; (3) provides thoughts on market-based resource management strategies that encompass both customer-driven service management and computational risk management to sustain SLA-oriented resource allocation; (4) presents the work carried out as part of our new Cloud Computing initiative, called Cloudbus: (i) Aneka, a Platform as a Service software system containing SDK (Software Development Kit) for construction of Cloud applications and deployment on private or public Clouds, in addition to supporting market-oriented resource management; (ii) internetworking of Clouds for dynamic creation of federated computing environments for scaling of elastic applications; (iii) creation of 3rd party Cloud brokering services for building content delivery networks and e-Science applications and their deployment on capabilities of IaaS providers such as Amazon along with Grid mashups; (iv) CloudSim supporting modelling and simulation of Clouds for performance studies; (v) Energy Efficient Resource Allocation Mechanisms and Techniques for creation and management of Green Clouds; and (vi) pathways for future research.Comment: 21 pages, 6 figures, 2 tables, Conference pape

Autonomous Agents for Business Process Management

Traditional approaches to managing business processes are often inadequate for large-scale organisation-wide, dynamic settings. However, since Internet and Intranet technologies have become widespread, an increasing number of business processes exhibit these properties. Therefore, a new approach is needed. To this end, we describe the motivation, conceptualization, design, and implementation of a novel agent-based business process management system. The key advance of our system is that responsibility for enacting various components of the business process is delegated to a number of autonomous problem solving agents. To enact their role, these agents typically interact and negotiate with other agents in order to coordinate their actions and to buy in the services they require. This approach leads to a system that is significantly more agile and robust than its traditional counterparts. To help demonstrate these benefits, a companion paper describes the application of our system to a real-world problem faced by British Telecom