1,721,135 research outputs found
Insolvency and Debt Recovery Procedures in Economic Development: An Overview of African Law
Get PDFLegal reforms, Credibility , Bankruptcy, Debt recovery
Executive Compensation and Macroeconomic Fluctuations
Get PDFMacroeconomic fluctuations affect corporations’ performance through demand and cost
conditions. Incentive effects of performance-based compensation schemes for
management may be weakened or biased by macroeconomic influences if management
is unable to forecast macroeconomic fluctuations or unable to adjust operations in
response to changes in macroeconomic conditions. In this paper we analyze the impact
of macroeconomic, industry and firm-specific factors on salaries and bonus of CEOs in
131 Swedish corporations during the period 2001-2006. A distinction is made between
anticipated and unanticipated macroeconomic fluctuations. The macroeconomic
influences on performance and compensation can be expected to vary from firm to firm
in terms of magnitude of effects, as well as in terms of relevant macroeconomic
variables. The estimates obtained in this paper refer to the average impact across the
sample of firms. We find that the average Swedish CEOs’ compensation is explained to
a substantial extent by macroeconomic factors; less so by unanticipated factors alone
Executive Incentive Compensation and Economic Prosperity
Get PDFThe increasing amounts of money paid out in compensation to corporate executives have become the subject of a heated public policy debate on both sides of the Atlantic during the last decade. The magnitude of these sums, as well as the timing of payments relative to evidence of corporate success or - more notably, failure - has surprised and, in many cases, angered employees, shareholders and politicians, and drawn considerable attention in the media. Are executives in many firms exploiting their power to benefit themselves at the expense of other stakeholders or is the level of compensation the result of an effective market mechanism? This book is intended to fill a void created by the current focus of economic, financial and management research on executive compensation in the USA, and to address whether results from the US generalize to Europe, whether there is a European model for executive compensation, and whether European compensation structures enhance the wealth of shareholders and citizens. The research presented here provides a foundation for further research that will help shareholders, their representatives on boards, and policy makers develop wealth enhancing procedures, contracts and rules within European corporate governance systems. The book covers a wide range of issues, including: corporate law and regulation in the area of corporate governance; prosperity and growth effects of compensation contracts; effects of compensation packages on incentives; organization of markets for executives; the choice of performance measure in performance-linked compensation contracts; influences from the US on compensation levels in Europe; as well as country studies of factors affecting compensation packages and their characteristics. This book will be of interest to academics, practitioners and policy makers. On the academic side, researchers and students in the field of business economics, corporate governance, finance, international business, and management will discover research results that enhance their knowledge and provide the basis for further research. Among practitioners, board members, executives, chief financial officers, and bankers will benefit from this book when evaluating and designing executive compensation schemes. Policy makers will find research-based material that can either support or call into question their preconceived opinions.https://nsuworks.nova.edu/hcbe_facbooks/1171/thumbnail.jp
International Trade Risk and the Cost of Flexibility in Capital Investment
No full textThis chapter describes the effects of trade policy configurations and summarizes them in a probability distribution on investment value and performance. It has important implications for investment management, as actual changes in policy after the strategic and competitive strength of various businesses. However, the implicit message of this work is even more potent than its explicit insights; namely, the identification of the basic tradeoff to be confronted in the management of the effects of trade policy and trade policy risks on corporate assets. The author also examines trade policy's effect on corporate decisions to invest in the productive capacity of a certain industry. © 1989 by Oxford University Press, Inc. All rights reserved
Hedging and Managing Exchange Rate and Related Macroeconomic Exposure
Get PDFHedging transaction and translation exposures to exchange rate changes may increase the economic exposure of the firm and reduce the information value of firms' quarterly statements. In this paper hedging macroeconomic exposures, of which exchange rate exposure is one type, is discussed in terms of choice of macroeconomic variables for which exposures could be measured, choice of strategy for managing exposures, and choice of financial instruments for hedging different exposures
- …
