CEO pay, shareholder returns, and accounting profits

We assess the impact on CEO pay (including salary, cash bonus, and benefits in kind) of changes in both accounting and shareholder returns in 99 British companies in the years 1972-89. After correcting for heterogeneity biases inherent in the standard specifications of the problem, we find a strong positive relationship between CEO pay and within-company changes in shareholder returns, and no statistically significant relationship between CEO pay and within-company changes in accounting returns. Differences between firms in long-term average profitability do appear to have a substantial effect on CEO pay, while differences between firms in shareholder returns add nothing to the within-firm pay dynamics.These findings call into question the rationale for explicitly share-based incentive schemes

In the dedicated pursuit of dedicated capital: restoring an indigenous investment ethic to British capitalism

Tony Blair’s landslide electoral victory on May 1 (New Labour Day?) presents the party in power with a rare, perhaps even unprecedented, opportunity to revitalise and modernise Britain’s ailing and antiquated manufacturing economy.* If it is to do so, it must remain true to its long-standing (indeed, historic) commitment to restore an indigenous investment ethic to British capitalism. In this paper we argue that this in turn requires that the party reject the very neo-liberal orthodoxies which it offered to the electorate as evidence of its competence, moderation and ‘modernisation’, which is has internalised, and which it apparently now views as circumscribing the parameters of the politically and economically possible

Comparison between Dense L-Band and C-Band Synthetic Aperture Radar (SAR) Time Series for Crop Area Mapping over a NISAR Calibration-Validation Site

Crop area mapping is important for tracking agricultural production and supporting food security. Spaceborne approaches using synthetic aperture radar (SAR) now allow for mapping crop area at moderate spatial and temporal resolutions. Multi-frequency SAR data is highly useful for crop monitoring because backscatter response from vegetation canopies is wavelength dependent. This study evaluates the utility of C-band Sentinel-1B (Sentinel-1) and L-band ALOS-2 (PALSAR) data, collected during the 2019 growing season, for generating accurate active crop extent (crop vs. non-crop) classifications over an agricultural region in western Canada. Evaluations were performed against the Agriculture and Agri-Food Canada satellite-based Annual Cropland Inventory (ACI), an open data product that maps land cover across the extent of Canada’s agricultural land. Classifications were performed using the temporal coefficient of variation (CV) approach, where an optimal crop/non-crop delineating CV threshold (CVthr) is selected according to Youden’s J-statistic. Results show that crop area mapping agreed better with the ACI when using Sentinel-1 data (83.5%) compared to PALSAR (73.2%). Analysis of performance by crop reveals that PALSAR’s poorer performance can be attributed to soybean, urban, grassland, and pasture ACI classes. This study also compared CV values to in situ wet biomass data for canola and soybeans, showing that crops with lower biomass (soybean) had correspondingly lower CV value

Correlates of therapist drift in psychological practice: A systematic review of therapist characteristics

Therapist drift refers to the tendency for psychologists to move away from the delivery of the evidence-based practices in which they are trained, even when resourced to implement them. When therapists do not provide, or only partially provide, empirically supported treatments their patients may receive interventions that are not effective, or that are harmful. The aim of the current study was to conduct a systematic review of the literature to ascertain the correlates of therapist drift in psychological practice, focusing on therapist characteristics. Relevant articles were identified through a comprehensive search of the literature. Sixty-six studies met the inclusion criteria and nine therapist characteristics that correlate with therapist drift were identified. These characteristics included: (1) therapist knowledge; (2) attitudes toward research; (3) therapist anxiety; (4) clinical experience; (5) therapist age; (6) theoretical orientation; (7) critical thinking; (8) personality traits; and (9) cultural competency. The interrelationships between these factors are explored and the clinical implications of results are discussed. Recommendations are made for future research

Insight inTo Stress and POOping on Work TIME (ITS POO TIME): Protocol for a Web-Based, Cross-Sectional Study

BackgroundLong occupational working hours and shift work are common in high-, middle-, and lower-income economies. Bowel movement frequency and stool form in occupational settings may be important markers of stressful working conditions as well as diurnal gut microbiota action, gastrointestinal discomfort, and disorders of gut-brain interaction (DGBI). Characterizing DGBI in shift and nonshift workers could help identify the impact of diurnal work patterns on workers’ physical and mental health, including anxiety related to bowel movements. ObjectiveThis study aims to outline the Insight inTo Stress and POOping on work TIME (ITS POO TIME) protocol describing a web-based multimethods research project on DGBI, stool form and frequency, psychological factors, sleep, diet, and anxiety related to bowel movements in occupational settings by comparison to residential settings. MethodsStudy 1 comprises a web-based convenience sampling survey to acquire quantitative data from adults who are engaged in paid employment. We seek to assess occupational characteristics, organizational factors, as well as standardized questionnaires for stool form, DGBI assessed based on Rome-IV criteria, sleep, diet, bowel movement anxiety (ie, parcopresis), and distress. Study 2 is a qualitative study that asks open-ended questions about respondents’ attitudes to defecation at work. Analyses for study 1 will explore rates of DGBI in shift versus nonshift workers and explore how occupational characteristics are associated with occupational bowel movement stool form and frequency. With regards to distress and parcopresis, study 1 will analyze how parcopresis, distress, and contamination fears are associated with stool form and frequency in occupational settings compared with residential settings. Study 1 is designed to have 90% power to detect a 5% difference in DGBI prevalence between groups at α=.05 based on the conservative estimate of 15% DGBI prevalence in shift workers and 10% DGBI prevalence in nonshift workers, with a final sample of 1967 required. Study 2 qualitative data will be analyzed using inductive thematic analysis to identify themes concerning feelings and attitudes about bowel movements in occupational settings. ResultsThe findings of ITS POO TIME will elicit important information on what factors are associated with bowel movements and stool form and frequency in occupational settings and identify associations pertinent to occupational health. Data collection commenced in January 2019 and finished enrollment in December 2023. Study 1 obtained 1872 responses and fell short of the desired sample size. Study 2 received 337 responses, and the primary results are expected to be published in 2025 and the qualitative results published in 2026. ConclusionsThe results of the research described in this research protocol will have direct implications for industry, employers, and policy makers concerning DGBI, stress, and worker health