CEO Pay For Long-Run Performance: A Dynamic View

This study examines multi-year dynamic response of CEO compensation to firm performance. Multi-period agency theories posit that the CEO's current performance can be compensated both today and tomorrow. This study investigates the dynamic view of CEO pay and firm performance by using partial adjustment models of CEO pay. We find that target pay levels are set on “long-run” past firm performance and that the deviation of the actual pay level causes near-complete convergence to the target in one year. Overall, the findings here indicate that a pay-for-contemporaneous-only-performance relationship significantly understates the incentive effects of CEO pay

The Effect Of Organizational Culture On Employee Commitment: A Mediating Role Of Human Resource Development In Korean Firms

The purpose of this study is to examine the effect of organizational culture defined as communication, trust, and innovative production on employees’ organizational commitment. Furthermore, we explored the possibility the role of HRD (Human Resource Development) activities in mediating the aforementioned relationship. Using the national employer survey data conducted by Korean government in 2011, the results find that organizational culture, in particular, defined as better communication among superiors and subordinates, trust, and appreciation of innovation from superiors, is positively related to organizational commitment. In addition, firm’s investment in HRD or employee participation in HRD would play a mediating role in influencing the relationship between organizational culture and organizational commitment. Therefore, organizational culture is a critical factor to increase workers’ motivation through the participation in HRD training program, thereby increasing worker’s commitment. The results provide theoretical and practical implications in HRD and its link to organizational culture in organizations.

Working hours reduction, financial constraints, and employment: evidence from Korean firms

This study analyzes the effect of reducing working time to a 40-hour week standard on employment, using the data of 1,961 publicly traded firms in Korea. The objective of the study is to empirically estimate the economy-wide effect of this working hours reduction on employment in Korea. This paper also attempts to uncover the effect of financial constraints, defined as the degree of accessibility to finance, on employment stability or sustainability. Some economic theories suggest that financial constraints have mixed or conflicting effects on employment. Building on labor and finance literature such as Garmaise (2007), easing financial constraints helps firms to optimally substitute capital for labor, thereby decreasing employment. Likewise, financially constrained firms are limited by the availability of internal funds, and a decrease in the external financing cost will increase firm-level human resource investment, such as employment. Using a longitudinal data on publicly listed companies in Korea, the author examines variations in the timing of implementing the working hours reduction in terms of establishment size to see if the effect of working hours reduction on employment differs with the degree of financial constraints of firms. This paper finds that the economy-wide effect on employment of work-hours reduction is positive, approximately 3.5% increase in employment. The results, however, show that there is no effect of the working hours reduction on employment in less financially constrained firms or larger corporations, whereas a substantial positive effect on employment is in smaller firms or financially constrained firms, supporting the Garmaise’s prediction

Investigation of the SH3BP2 Gene Mutation in Cherubism

Cherubism is a rare developmental lesion of the jaw that is generally inherited as an autosomal dominant trait. Recent studies have revealed point mutations in the SH3BP2 gene in cherubism patients. In this study, we examined a 6-year-old Korean boy and his family. We found a Pro418Arg mutation in the SH3BP2 gene of the patient and his mother. A father and his 30-month-old younger brother had no mutations. Immunohistochemically, the multinucleated giant cells proved positive for CD68 and tartrate-resistant acid phosphatase (TRAP). Numerous spindle-shaped stromal cells expressed a ligand for receptor activator of nuclear factor kB (RANKL), but not in multinucleated giant cells. These results provide evidence that RANKL plays a critical role in the differentiation of osteoclast precursor cells to multinucleated giant cells in cherubism. Additionally, genetic analysis may be a useful method for differentiation of cherubism.</p

Long-Term Health Effects of Work Trajectories Among Middle-Aged and Older Adults: The Mediating Role of Work, Material, and Social Environments

Using data from 14 waves (2003–2016) of the Korean Labor and Income Panel Study (KLIPS) (N = 1,627 individuals aged 45–64; 22778 observations), in this study, we conducted sequence analysis and a multi-categorical variable mediation analysis (1) to examine to what extent long-term work histories exhibit varying degrees of de-standardization and precariousness using sequence analysis (2) to explore the potential mediating effects of work, material, and social environments in the association between multiple work sequences and self-rated health. We found the coexistence of a relatively stable long-term employment pattern and a high prevalence of precariousness. The health and economic risks of precarious work fall disproportionately on older workers. Future researchers should continue to analyze whether the COVID-19 pandemic will lead to long-term changes in the workforce to improve our understanding of and response to working in later life and its health effects

Reinforcing effects of methamphetamine in an animal model of Attention-Deficit/Hyperactivity Disorder-the Spontaneously Hypertensive Rat

Substrains of the Spontaneously Hypertensive rat (SHR), a putative animal model of Attention-Deficit/Hyperactivity Disorder (ADHD), have demonstrated increased sensitivity to many drugs of abuse, including psychostimulants. Therefore, it was suggested that studies in SHR may help elucidate ADHD and comorbidity with substance use disorder (SUD). However, the drug intake profile of the SHR in the most relevant animal model of drug addiction, the self-administration (SA) test, and its response on the conditioned place preference (CPP) paradigm are not yet determined. In the present study, we employed SA and CPP tests to investigate the reinforcing effects of the psychostimulant methamphetamine in an SHR substrain obtained from Charles River, Japan (SHR/NCrlCrlj). Concurrent tests were also performed in Wistar rats, the strain representing "normal" heterogeneous population. To address if the presence of ADHD behaviors further increases sensitivity to the rewarding effect of methamphetamine during adolescence, a critical period for the onset of drug abuse, CPP tests were especially conducted in adolescent Wistar and SHR/NCrlCrlj. We found that the SHR/NCrlCrlj also acquired methamphetamine SA and CPP, indicating reinforcing effects of methamphetamine in this ADHD animal model. However, we did not observe increased responsiveness of the SHR/NCrlCrlj to methamphetamine in both SA and CPP assays. This indicates that the reinforcing effects of methamphetamine may be similar in strains and that the SHR/NCrlCrlj may not adequately model ADHD and increased sensitivity to methamphetamine

Temporal Interpolation Is All You Need for Dynamic Neural Radiance Fields

Temporal interpolation often plays a crucial role to learn meaningful representations in dynamic scenes. In this paper, we propose a novel method to train spatiotemporal neural radiance fields of dynamic scenes based on temporal interpolation of feature vectors. Two feature interpolation methods are suggested depending on underlying representations, neural networks or grids. In the neural representation, we extract features from space-time inputs via multiple neural network modules and interpolate them based on time frames. The proposed multi-level feature interpolation network effectively captures features of both short-term and long-term time ranges. In the grid representation, space-time features are learned via four-dimensional hash grids, which remarkably reduces training time. The grid representation shows more than 100 times faster training speed than the previous neural-net-based methods while maintaining the rendering quality. Concatenating static and dynamic features and adding a simple smoothness term further improve the performance of our proposed models. Despite the simplicity of the model architectures, our method achieved state-of-the-art performance both in rendering quality for the neural representation and in training speed for the grid representation.Comment: CVPR 2023. Project page: https://sungheonpark.github.io/tempinterpner