In hun artikel ‘Regulering van rendementen - snappen we het wel echt?’ belichten Boot en Ligterink de belangrijkste misvattingen over het gebruik van de WACC-methodologie voor het bepalen van ...vermogenskosten van gereguleerde ondernemingen (Boot & Ligterink, 2011). De parlementaire enquête woningcorporaties naar misstanden in de sector roept de vraag op of de WACC-methodologie ook op woningcorporaties kan worden toegepast. Voor de juiste toepassing van de WACC binnen de woningcorporatiesector dienen keuzes te worden gemaakt om invulling te geven aan een aantal parameters. De voordelen van toepassing van de WACC, keuzemogelijkheden, overwegingen en praktische alternatieven worden in dit artikel verkend.
In 2002, the Accountants-in-Business section of the International Federation of Accountants (IFAC) issued the
Competency Profiles for Management Accounting Practice and Practitioners report. This ...“Birkett Report” presents a framework for competency development during the careers of management accountants (MAs). On the basis of this theoretical report, a hypothesis has been formulated about the sequence in which each of 38 competencies is expected to become important to the MA during his/her career. Results presented here show that practicing MAs see the same sequence of competencies during their careers as is presented in the theoretical framework, supporting Birkett’s competency model. The results indicate that there may be three groups of competencies: basic, advanced, and highly advanced. It may be said that the basic competencies need to be present at graduation. The advanced competencies may need to be present some years after the start of the MAs career. The highly advanced skills may be needed for Chief Financial Officer (CFO) candidates. These results suggest that advanced and highly advanced competencies are those that could be taught in continuing professional education (CPE) programs, while university education programs should focus on developing basic competencies.
Executive Compensation in the Netherlands Swagerman, Dirk; Terpstra, Erik
Problems and Perspectives in Management,
2007, Letnik:
5, Številka:
3 continued
Journal Article
Recenzirano
Odprti dostop
This paper shows the recent developments in the structure of Dutch executive pay contracts. An empirical study based on remuneration data on the executive board members of 71 Dutch listed companies ...over the period of 2002-2004 has revealed a number of clear trends in this area. This paper demonstrates that the political interference in compensation practices, for example in the form of corporate governance guidelines, has had a great impact on the design of compensation structures, but often at the expense of the economical efficiency of these arrangements. The main objective of this study is to increase insights into Dutch executive compensation arrangements and the way in which these have evolved under the influence of corporate governance requirements. Adapted from the source document.
Purpose - The goal of this paper is to use a coherent conceptual framework to discern variables (triggers) that affect a management accountant's role in an organization, thereby generating a ...comprehensive empirical picture of the management accountant profession in The Netherlands. Similar research was conducted in 2004, which allows a comparison of the data to see if, and to what extent, developments in the profession have taken place.Design methodology approach - Using survey data, groups of management accountants are distinguished based on coherent combinations of activities. Factor and cluster analyses are applied to obtain a segmentation of the data. By doing this, it is established if homogeneous groups of management accountants can be distinguished, how many groups there are and what the characteristics of these groups are in terms of activities.Findings - It was found that controllers either operate as "reporting business analysts" or "business system analysts". Whether someone is found to be a reporting business analyst or business system analyst is among other things affected by personality traits, a person's experience in finance and accounting, the financial status of an organization and changes in laws and regulations.Research limitations implications - The conceptual framework proposed integrates several previous studies on the roles of management accountants. It allows an analysis of their activities, yielding an empirically founded classification of management accountants in groups. In addition, possible factors underlying this classification can be discerned. As this is a generally applicable framework, it can, at a later stage, be used to make a comparison between countries, for instance in Europe.Practical implications - The resulting picture of the management accountant profession provides information on how to form or even design the financial function in an organization. Apparently, the developments in the profession reflect changes in the business environment and society as a whole, as it seems that internal analysis and risk management have become more fundamental to the profession.Originality value - This research uses an original framework covering several previous studies to generate a comprehensive empirical picture of the management accountant profession in The Netherlands. The framework is used to track changes over a three-year period.
U ovom se radu opisuju trendovi u dizajniranju ugovora o plaćanju nizozemskih top menadžera. Da bi se unaprijedilo poznavanje ovog problema, analizirani su podaci o kompenzacijama izvršnih članova ...odbora direktora 71 nizozemske korporacije uvrštene na tržište kapitala u periodu od 2002. do 2004. godine. Rad polazi od premise da specifični režim korporacijskog upravljanja i uvjeti u okruženju presudno utječu na ugovore o kompenzacijama. Na temelju teorijskog istraživanja, u kojem se kombiniraju empirijski rezultati i pregled literature, ustvrđuje se da se optimalni pristup
kompenzacijama postiže kompromisom između poštovanja standarda korporacijskog upravljanja (na temelju kojeg se optimiziraju potencijalni poticaji i smanjuju negativni poticaji menadžmentu) i težnje za ponudom konkurentnog paketa kompenzacija. Čini se da se ovaj kompromis razlikuje u svakom poduzeću, kao i u vremenu u kojem se promatra. Relevantnost ove studije je dvostruka: prvo, njezini rezultati bi mogli pomoći u oblikovanju javne debate o plaćanju top menadžmenta u Nizozemskoj. Nadalje, ona može poslužiti kao nacrt za buduća istraživanja na temu kompenzacija top menadžmenta u specifičnom kontekstu nizozemskog sustava korporacijskog upravljanja, kao i pomoći u kreiranju optimalnih kompenzacijskih paketa.
This article describes the trends in Dutch executive pay contracts. To increase our insight into this subject area, we conducted an empirical study on the basis of remuneration data provided by the ...executive board members of 71 Dutch listed companies over the period 2002-2004. The study starts from the premise that the characteristics of a unique corporate governance regime, together with the environmental context, shape compensation arrangements. Based on a theoretical research study, which combines our empirical research results with a literature overview, we argue that an optimal compensation arrangement is a trade-off among complying with corporate governance standards, optimizing potential incentives, preventing perverse incentives and offering a competitive pay package. It appears that this trade-off differs with each company at any moment in time. The relevance of this study may be threefold. First, its results can help shape the public debate about the pay of top executives in the Netherlands. Second, it could serve as a blueprint for future research on executive compensation in the specific context of the Dutch governance system. Furthermore, it could help remuneration committees in designing optimal compensation packages. PUBLICATION ABSTRACT
Cyber-physical systems consist of many hardware and software components. Over the life-cycle of these systems, components are replaced or updated. To avoid integration problems, good interface ...descriptions are crucial for component-based development of these systems. For new components, a Domain Specific Language (DSL) called Component Modeling & Analysis (ComMA) can be used to formally define the interface of such a component in terms of its signature, state and timing behavior. Having interfaces described in a model-based approach enables the generation of artifacts, for instance, to generate a monitor that can check interface conformance of components based on a trace of observed interface interactions during execution. The benefit of having formal interface descriptions also holds for legacy system components. Interfaces of legacy components can be reverse engineered manually. In order to reduce the manual effort, we present an automated learner. The learner can reverse engineer state and timing behavior of a legacy interface by examining event traces of the component in operation. The learner will then generate a ComMA model.
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