1,720,978 research outputs found
CEO compensation and performance in family firms
No full textThis study examines CEO compensation in family firms, with a particular focus on the effects exerted by governance characteristics such as ownership concentration, wedge between voting and cash-flow rights rights, and the presence of shareholder agreements. On a sample of Italian listed companies over the period 1998-2002, we provide empirical evidence that family firms pay CEOs systematically more then other firms, and that the ownership structure exerts a significant effect on CEO compensation. In family firms, CEO pay is indeed positively affected by low ownership concentration, as well as a low wedge between voting and cash flow rights. Moreover, the presence of shareholders agreements has a moderating role on the level of CEO compensation. These effects are more pronounced in family than in non-family firms.
The analysis of the relationship between excess compensation and future firm performance reveals that the higher compensation granted to the CEO by family firms is related to worse stock and accounting returns and could therefore be interpreted as a form of rent extraction. This result holds only for lower degrees of ownership concentration, higher wedge and in the absence of shareholders’ agreements, and supports the hypothesis that the prevalent agency conflict within Italian-listed family firms is between family owners and minority shareholders, instead of between shareholders and managers. The higher compensation granted to the CEO could be interpreted as the premium for the loyalty of the CEO to the family and for allowing the family to extract private benefits of control
La funzione finanziaria e la valutazione economica delle strategie
No full textIl capitolo offre una rappresentazione del ruolo svolto dalla funzione finanziaria nell'impresa moderna. A tal fine, l'analisi si concentra sulle quattro attività che oggi sembrano caratterizzare la funzione finnaziari
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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