We analyze the relation between CEO compensation and networks of executive and non-executive directors for all listed UK companies over the period 1996–2007. We examine whether networks are built for ...reasons of information gathering or for the accumulation of managerial influence. Both indirect networks (enabling directors to collect information) and direct networks (leading to more managerial influence) enable the CEO to obtain higher compensation. Direct networks can harm the efficiency of the remuneration contracting in the sense that the performance sensitivity of compensation is then lower. We find that in companies with strong networks and hence busy boards the directors' monitoring effectiveness is reduced which leads to higher and less performance-sensitive CEO compensation. Our results suggest that it is important to have the ‘right’ type of network: some networks enable a firm to access valuable information whereas others can lead to strong managerial influence that may come at the detriment of the firm and its shareholders. We confirm that there are marked conflicts of interest when a CEO increases his influence by being a member of board committees (such as the remuneration committee) as we observe that his or her compensation is then significantly higher. We also find that hiring remuneration consultants with sizeable client networks also leads to higher CEO compensation especially for larger firms.
The aim of the article is to assess the situation in terms of wage inequality and identify factors influencing changes in the levels, dynamics and relations of wages in voivodeships in Poland in ...2012–2021. In Poland, during the analyzed period, an economic crisis occurred in 2012 as a consequence of the crisis of 2008–2009 and since 2020. Average monthly gross wages in Poland will be used for this purpose. Based on this data, deviations, relationships, and rates of change will be calculated. To carry out the analysis and evaluation, I will use statistical data published in the Statistical Yearbooks of the Central Statistical Office in Warsaw for the years 2012–2021. In this article, the region will be identified with the voivodeship, according to the administrative division.
Effective and active consumers providing flexibility through Demand Response (DR) programs have three important aspects: rating each consumer according to previous participation, remuneration of that ...participation, and determining the rebound effect of consumption after the event. In this paper, the authors design a rate to classify and select the proper participants for a DR event considering the context in which the event is triggered. The aggregator estimated the shifting of consumption to periods after the event is modeled, and the respective remuneration is estimated under different scenarios. This shifting can be done in several time frames in the future. The scenarios are developed to test the acceptable time range in which the load should be allocated according to the rebound effect. The results show that a higher time range can avoid huge peak consumption, optimizing the system operation with benefits for consumers, DSO, and the aggregator.
Payment systems and incentives in dentistry Grytten, Jostein
Community dentistry and oral epidemiology,
February 2017, 2017-Feb, 2017-02-00, 20170201, Volume:
45, Issue:
1
Journal Article
Peer reviewed
Open access
In this commentary, we discuss the advantages and disadvantages of the following incentive‐based remuneration systems in dentistry: fee‐for‐service remuneration, per capita remuneration, a mixed ...payment system (a combination of fee‐for‐service remuneration and per capita remuneration) and pay‐for‐performance. The two latter schemes are fairly new in dentistry. Fee‐for‐service payments secure high quality, but lead to increased costs, probably due to supplier‐induced demand. Per capita payments secure effectiveness, but may lead to under‐treatment and patient selection. A mixed payment scheme produces results somewhere between over‐ and under‐treatment. The prospective component (the per capita payment) promotes efficiency, while the retrospective component (the fee‐for‐service payment) secures high quality of the care that is provided. A pay‐for‐performance payment scheme is specifically designed towards improvements in dental health. This is done by linking provider reimbursements directly to performance indicators measuring dental health outcomes and quality of the services. Experience from general health services is that pay‐for‐performance payment has not been very successful. This is due to significant design and implementation obstacles and lack of provider acceptance. A major criticism of all the incentive‐based remuneration schemes is that they may undermine the dentists’ intrinsic motivation for performing a task. This is a crowding‐out effect, which is particularly strong when monetary incentives are introduced for care that is cognitively demanding and complex, for example as in dentistry. One way in which intrinsic motivation may not be undermined is to introduce a fixed salary component into the remuneration scheme. Dentists would then be able to choose their type of contract according to their abilities and their preferences for nonmonetary rewards as opposed to monetary rewards. If a fixed salary component cannot be introduced into the remuneration scheme, the fees should be ‘neutral’; that is, they should just cover the costs of the services provided. This is one way in which supplier‐induced demand can be limited and costs contained.
This paper studies how to design an index structure on a collection of sets <inline-formula><tex-math notation="LaTeX">S_{1}, S_{2},{\ldots }, S_{n}</tex-math></inline-formula> to answer the ...following queries: given distinct set ids <inline-formula><tex-math notation="LaTeX">a, b \in 1, n</tex-math></inline-formula>, report <inline-formula><tex-math notation="LaTeX">F(S_{a} \cap S_{b})</tex-math></inline-formula> where <inline-formula><tex-math notation="LaTeX">F(.)</tex-math></inline-formula> is a filtering function. We present a solution that can support a great variety of filtering functions - range research, skyline, convex hull, nearest neighbor search, quantile (to name just a few) - with attractive performance guarantees. The guarantees are sensitive to the set collection's pseudoarboricity , a new notion for quantifying the density of <inline-formula><tex-math notation="LaTeX">\lbrace S_{1}, S_{2},{\ldots }, S_{n}\rbrace</tex-math></inline-formula>. Our index structures are simple to understand and implement.
This study determines whether there is a relationship between the remuneration to the employee performance at the Islamic Hospital Siti Khadijah Palembang. The hypothesis of ...this study is no significant relationship between the remuneration to the employee performance in The Islamic Hospital Siti Khadijah Palembang. There are two variables in the study of variable remuneration X and Y performance. The method used is quantitative correlation. The sampling technique in studies using stratified random sampling, and found the number of sampling as many as 50 people. Instrument collecting data in this study using a scale of remuneration and performance scale. Hypothesis testing using a hypothesis test analysis of SPSS version 22.0 for Windows. The results of data analysis based on the analysis of the Kearl Person Product Moment showed that there is a significant correlation (r s> r table) = 0.666> 0.279 with significance level of 0.05. This indicates the higher administration remunersi the employee's performance will increase.
Prosumers are emerging in the power and energy market to provide load flexibility to smooth the use of distributed generation. The volatile behavior increases the production prediction complexity, ...and the demand side must take a step forward to participate in demand response events triggered by a community manager. If balance is achieved, the participants should be compensated for the discomfort caused. The authors in this paper propose a methodology to optimally manage a community, with a focus on the remuneration of community members for the provided flexibility. Four approaches were compared and evaluated, considering contextual tariffs. The obtained results show that it was possible to improve the fairness of the remuneration, which is an incentive and compensation for the loss of comfort. The single fair remuneration approach was more beneficial to the community manager, since the total remuneration was lower than the remaining approaches (163.81 m.u. in case study 3). From the prosumers' side, considering a clustering method was more advantageous, since higher remuneration was distributed for the flexibility provided (196.27 m.u. in case study 3).
This study aims to understand the impact of the additional remuneration of the Chief Executive Officer (CEO) over the mean remuneration of the board of directors on firms’ financial performance. The ...objective is to understand if the highest compensation of the CEO is a firm performance driver. In addition to the impact of total remuneration, the different remuneration components were split and analyzed. An unbalanced panel data of listed companies in DAX–Germany over the period from 2006 until 2019 is analyzed. Using dynamic methodology to estimate the models, the results show that higher additional remuneration positively explains higher firm performance measured using both accounting and market measures. The impact is also evident when additional remuneration components are analyzed. These results support the tournament theory, since when CEOs feel rewarded, they are more efficient in increasing the firm’s performance. Moreover, the firms’ financial characteristics, as well as macroeconomic factors, are also relevant to explaining its performance.
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