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Article
Publication date: 23 September 2024

Yixi Ning, Ke Zhong and Lihong Chen

This study aims to examine the effect of CEO compensation risk, as measured by the proportion of equity-based pay (option and stock awards) relative to total compensation and pay…

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Abstract

Purpose

This study aims to examine the effect of CEO compensation risk, as measured by the proportion of equity-based pay (option and stock awards) relative to total compensation and pay sensitivity to stock volatility, on CEO pay for luck asymmetry. This paper also empirically examines CEO compensation risk as a mediating variable between the regulatory changes and CEO pay for luck asymmetry.

Design/methodology/approach

This paper test the proposed two hypothesis that CEO compensation risk is positively associated with the degree of CEO pay for luck asymmetry; and the pay related regulations implemented around 2006 could mitigate the degree of CEO pay for luck asymmetry using the fixed-effects regression models.

Findings

Consistent with the managerial talent retention hypothesis, this paper finds that CEO compensation risk, as measured by the equity-based pay as a proportion of CEO total compensation and CEO pay sensitivity to stock volatility, is positively associated with the degree of CEO pay for luck asymmetry. In addition, this paper find that CEO pay for luck asymmetry is significantly reduced by the major regulatory changes on executive compensation implemented around 2006.

Research limitations/implications

This study is among the very few studies exploring the impact of CEO compensation risk on pay for luck asymmetry in the literature. While the major purpose of the widely used stock options is to align executive interests and shareholder values, it also tends to increase the risk level of CEO compensation. So, a well-designed CEO pay package should protect risk-averse CEOs from bad luck for the retention purpose, which is also beneficial to shareholder wealth maximization. Therefore, future research on executive compensation needs to examine the issue from various perspectives.

Practical implications

For board of directors who is responsible for the compensation of CEOs, it is necessary to consider a broad range of factors when designing an optimal CEO pay package.

Social implications

The findings on the impact of regulations on CEO pay for luck asymmetry suggest that the executive-pay-related regulations around 2006 have indeed achieved some of their intended goals to significantly lower pay for nonperformance asymmetry, whereby CEO pay sensitivity to stock volatility has been identified as a major mediating variable.

Originality/value

This study contributes to the literature on executive pay for luck asymmetry in several perspectives. First, this paper finds that CEO compensation risk has a positive impact on the degree of CEO pay for luck asymmetry. Second, this paper finds that the CEO pay for luck asymmetry has been mitigated after 2006 when various regulatory changes on executive compensation began to be implemented in the USA. To the best of the authors’ knowledge, this study is among the very few studies investigating these issues in the literature.

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Article
Publication date: 11 February 2025

Lei Chen, Lihong Cheng, Yuxing Cheng and Xuesong Xu

This paper considers an e-tailer planning to distribute a product under one direct sales channel and multiple asymmetric agency platforms. Based on the multinomial logit (MNL…

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Abstract

Purpose

This paper considers an e-tailer planning to distribute a product under one direct sales channel and multiple asymmetric agency platforms. Based on the multinomial logit (MNL) choice model, this study optimizes the pricing strategy and channel selection strategy to maximize the e-tailer’s profit.

Design/methodology/approach

A two-stage channel selection and pricing problem is formulated, where the profit-maximizing e-tailer first optimally selects a specified number of agency platforms from a set of alternatives to distribute the product and then determines the optimal prices in those channels.

Findings

An optimal pricing strategy is proposed to maximize the e-tailer’s total profit on multiple asymmetric channels. The results show that the e-tailer can obtain a higher profit by selling products on more asymmetric agency platforms. Moreover, an effective channel selection algorithm is provided to help the e-tailer optimally select the M agency platforms from N alternatives.

Originality/value

This study enriches the relevant research on multichannel selection and pricing by proposing an optimal pricing strategy and an effective channel selection algorithm. Evaluation results based on real-world industrial data show that the proposed optimal multichannel pricing strategy in this paper can significantly improve the profit of a real-world e-tailer compared to the e-tailer’s actual profit.

Details

Industrial Management & Data Systems, vol. 125 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

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Article
Publication date: 31 August 2023

Mohamed Abadi, Jieling Huang, Jillian Yeow, Saeed Reza Mohandes and Lihong Zhang

The development of circular construction supply chains (CCSCs) is impeded by various barriers, but the current literature overlooks the interrelationships among these barriers and…

766

Abstract

Purpose

The development of circular construction supply chains (CCSCs) is impeded by various barriers, but the current literature overlooks the interrelationships among these barriers and the varying nature of associated countermeasures with the growth of circular economy (CE). This paper aims to develop new perspectives about the transition to CCSCs through the lens of supply-push (SP)/demand-pull (DP) strategies and related underpinning theories.

Design/methodology/approach

A systematic literature review including 136 journal articles was undertaken to identify barriers to CCSCs and associated countermeasures that are analysed for their relevance to SP/DP. The interplay between SP/DP approaches was discussed using the “technology acceptance” and “innovation chain” models.

Findings

(1) Thirty-five barriers were identified and organised into nine main barrier factors; (2) the predominant factors are knowledge and awareness, policy and regulations, technological capabilities, and incentives; (3) CCSCs transition is SP-configured primarily driven by actors above the project network; (4) “push” measures are devised to gradually create a “pull” environment and can be revoked when demand for circularity is created, suggesting a new “push-to-pull” perspective of CCSCs; and (5) a complex adaptative system is witnessed in relationships between barriers and countermeasures, and interactions among actors at all levels.

Practical implications

The findings offer practitioners countermeasures to barriers encountered in CE initiatives. It also informs policymakers of adjusting policies to accommodate the SP-DP movement in steering the circular transition.

Originality/value

This study uses theoretical models to interpret the dynamics in CCSCs transition and proposes a new definition of CCSCs highlighting their complex and dual transitional/transformational nature.

Details

Engineering, Construction and Architectural Management, vol. 32 no. 2
Type: Research Article
ISSN: 0969-9988

Keywords

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Article
Publication date: 18 November 2024

Novi Sekar Sari, Ririn Tri Ratnasari and Asmak Ab Rahman

This study aims to determine the influence of experiential value, authentic happiness and experiential satisfaction on the behavioral intention of luxury fashion.

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Abstract

Purpose

This study aims to determine the influence of experiential value, authentic happiness and experiential satisfaction on the behavioral intention of luxury fashion.

Design/methodology/approach

Two hundred online questionnaires were collected from customers who rented or bought wedding dresses between 2015 and 2020, with at least one rental or purchase coming from an Indonesian bridal wedding brand that promotes the idea of marriage under Islamic law. The quantitative methodology used in this study was examined using the Structural Equation Model analysis method with the AMOS 22 software.

Findings

The results showed that all hypotheses were accepted with significant positive influences, including experiential value in halal fashion on authentic happiness, experiential satisfaction and luxury fashion behavioral intention, authentic happiness in luxury fashion behavioral intention and experiential satisfaction, as well as experiential satisfaction in the behavioral intention of luxury fashion.

Research limitations/implications

The data were collected from respondents who have rented and/or purchased wedding dresses. However, the number of respondents who only rent or who only buy was not identified.

Practical implications

The value of experience in halal fashion needs to be increased. Based on the results of this study, it is hoped that marketers can create effective marketing policies and strategies by paying attention to the value of the consumer’s halal fashion experience because it will affect their authentic happiness, experience satisfaction and luxury fashion behavior intention.

Originality/value

This study has unique originality in measuring the variable of luxury fashion behavioral intention, which was adjusted to the object of research, namely luxury fashion.

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