The purpose of this article is to illuminate the role of multiple non‐governmental players in the practice of public diplomacy.
Abstract
Purpose
The purpose of this article is to illuminate the role of multiple non‐governmental players in the practice of public diplomacy.
Design/methodology/approach
Public diplomacy has become a crowded and competitive field in the US in terms of who speaks for the country and who in fact has the most impact and influence on overseas public perceptions of it. Reviewing the history of public diplomacy as primarily the practice of government agencies leads on to the new reality of multiple non‐governmental players in the field today, including mainly media, business and NGO's. This new reality parallels the fact that America no longer has the field of public diplomacy largely to itself; many governments have their own public diplomacy activities with mixed influence and effect.
Findings
While governments initiated the official practice of public diplomacy during the cold war, there are a host of new unofficial players in the field today – in the US and other countries – with competing national and international interests.
Originality/value
This article highlights the particular role played by media, multinational corporations, and NGO's in public diplomacy today, in the context of the contemporary history of the field.
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Florian Klein and Hato Schmeiser
The purpose of this paper is to determine optimal pooling strategies from the perspective of an insurer's shareholders underlying a default probability driven premium loading and…
Abstract
Purpose
The purpose of this paper is to determine optimal pooling strategies from the perspective of an insurer's shareholders underlying a default probability driven premium loading and convex price-demand functions.
Design/methodology/approach
The authors use an option pricing framework for normally distributed claims to analyze the net present value for different pooling strategies and contrast multiple risk pools structured as a single legal entity with the case of multiple legal entities. To achieve the net present value maximizing default probability, the insurer adjusts the underlying equity capital.
Findings
The authors show with the theoretical considerations and numerical examples that multiple risk pools with multiple legal entities are optimal if the equity capital must be decreased. An equity capital increase implies that multiple risk pools in a single legal entity are generally optimal. Moreover, a single risk pool for multiple risk classes improves in relation to multiple risk pools with multiple legal entities whenever the standard deviation of the underlying claims increases.
Originality/value
The authors extend previous research on risk pooling by introducing a default probability driven premium loading and a relation between the premium level and demand through a convex price-demand function.
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Calum G. Turvey, Michael Hoy and Zahirul Islam
We develop a theoretical model of input use by agricultural producers who purchase crop insurance, and thus may engage in moral hazard. Through simulations, our findings show a…
Abstract
We develop a theoretical model of input use by agricultural producers who purchase crop insurance, and thus may engage in moral hazard. Through simulations, our findings show a combination of partial insurance coverage and partial monitoring of inputs may reduce substantially the problems associated with moral hazard. The minimum level of input use that must be required by regulation is determined to be substantially lower than the optimal or actual input level chosen by producers. Because the use of inputs for crop production occurs in many stages over the pre‐planting, planting, and growing seasons, only a minimal input requirement is needed. Thus, the cost of implementing such a regulation can be kept much lower than would be the case for a regulation of complete monitoring of input usage.
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Robert J. Dijkstra and Michael G. Faure
The purpose of this paper is to understand the incentive effects of existing compensation mechanisms in case of the bankruptcy of a financial institution.
Abstract
Purpose
The purpose of this paper is to understand the incentive effects of existing compensation mechanisms in case of the bankruptcy of a financial institution.
Design/methodology/approach
The paper uses insights of law and economics to predict the effects of compensation mechanisms on the incentives of depositors, financial institutions, financial regulators and government.
Findings
The paper shows that the current compensation system in The Netherlands will not provide sufficient incentives for all stakeholders to prevent the failure of a financial institution. Adjustments to this system are necessary to improve these incentives.
Original/value
The paper examines for the first time the impact of different compensation mechanisms on the incentives of multiple stakeholders. It also shows how these mechanisms influence each other regarding their incentive generating capability. These findings offer important insights for policy makers.
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The Evil Queen is a staple character in many fairy tales, but perhaps one of her most famous incarnations is as Snow White's evil stepmother. In order to gain a better…
Abstract
The Evil Queen is a staple character in many fairy tales, but perhaps one of her most famous incarnations is as Snow White's evil stepmother. In order to gain a better understanding of the dynamics of gender and morality in this story, this chapter analyses three different versions of the fairy tale Snow White and the Seven Dwarfs: the Brothers Grimm's nineteenth-century text, Disney's 1930s film adaptation, and The Snow Queen's Shadow, a contemporary novel based loosely on a mix of well-known European fairy tales. The chapter explores what, exactly, marks the Queen as evil in the different versions, how her morality interacts with questions of gender and cultural context, and how the different versions portray the relationship – and often the moral dichotomy – between the Evil Queen and Snow White.
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Rita Yi Man Li, Li Meng, Tat Ho Leung, Jian Zuo, Beiqi Tang and Yuan Wang
The circular economy (CE) proposes that all materials flow in a close-looped system. Waste generated by one production stage may be useful in another. Thus, the idea of a CE is…
Abstract
The circular economy (CE) proposes that all materials flow in a close-looped system. Waste generated by one production stage may be useful in another. Thus, the idea of a CE is linked to the goal of zero waste (ZW) and promotes a range of sustainable economic, social and environmental benefits in each sector. When we apply this to construction waste management, waste can be managed through reducing, recycling, upcycling and reusing. However, there is an inevitable cost implication associated with this process due to the additional requirement of inventory and waste processing, and this becomes a disincentive to implementing the CE. Formal institutions, referring here to legal rules and regulations, play a critical role in motivating firms and individuals towards a CE. As different countries have different government rules and regulations, and there is limited research on their differences, we review Asia’s and Europe’s legal rules and regulations relevant to the goal of ZW and CE in the construction sector.
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Kuen‐Hung Tsai, Christine Chou and Ming‐Yi Chen
The purpose of this paper is to examine whether matching pay policy with innovation strategy really improves firm performance.
Abstract
Purpose
The purpose of this paper is to examine whether matching pay policy with innovation strategy really improves firm performance.
Design/methodology/approach
Three technology‐based service sectors (software, information system integration, and IC design) comprise the analytical samples. A hierarchical multiple regression method is adopted to examine the research hypotheses.
Findings
Examinations reveal that the positive effect which pay policy combined with innovation strategy has on firm performance is only found in IC design service firms.
Research limitations/implications
Industry serves as a moderator in the relationship between the match and firm performance. However, this examination concentrates on the technology‐based service sectors only.
Practical implications
Matching pay policy and innovation strategy cannot be regarded as a panacea for improving firm performance.
Originality/value
This study makes an interesting contribution to understanding the strategic perspective of compensation.
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Taruntej Singh Arora and Suveera Gill
There is growing empirical evidence in context of the developed countries that greater tax aggressiveness of companies is associated with higher incentives to their executives…
Abstract
Purpose
There is growing empirical evidence in context of the developed countries that greater tax aggressiveness of companies is associated with higher incentives to their executives. However, the same cannot be extended to emerging economies like India due to their distinct compensation practices. The present study, therefore, aims to bridge this gap by exploring the relationship between executive compensation and corporate tax aggressiveness in context of the Indian economy.
Design/methodology/approach
The sample comprises a subset of the S&P BSE 500 Index companies for FY 2014–15 through 2018–19. A fixed effects panel model has been used to discern the impact of executive compensation on corporate tax aggressiveness with and without the moderating effect of a proxy for corporate governance strength.
Findings
The econometric analysis evinces a significant negative impact of the fixed executive compensation on tax aggressiveness, specifically with the moderation of corporate governance strength which was found to have a positive effect on the said relation. In addition, no significant relationship was observed between variable compensation and tax aggressiveness. These results were robust to an alternate specification of the corporate governance strength proxy as well as the system generalised method of moments estimation employed to deal with endogeneity.
Originality/value
The study provides insights on a poor interest alignment between shareholders and managers in India owing to an insignificant amount of variable pay in the total executive compensation.
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This article aims to identify the capabilities supporting the development of collaborative innovation within knowledge‐intensive environments.
Abstract
Purpose
This article aims to identify the capabilities supporting the development of collaborative innovation within knowledge‐intensive environments.
Design/methodology/approach
Re‐considering the history of the ARPANET project as a vivid example of collaborative innovation, the article presents qualitative research from a historical case.
Findings
Within this framework, the article shows that benefiting from collaboration in innovation entails that the innovative organisation is capable of achieving (at least) the following tasks: to leverage complementarities between internal and external sources of innovation (design capability); to codify, capitalise and disseminate knowledge outcomes (knowledge management capability); and to align product and organisations in a dynamic way (adaptive governance capability).
Research limitations/implications
This contribution is limited by looking at a single case. On the premise that model generalization depends on extensive empirical data, the current article should be considered as preliminary/exploratory research that aims at identifying the capabilities supporting collaborative innovation within knowledge‐intensive environments.
Originality/value
The originality of this article is to look at a historical case to elaborate on a typology of collaborative innovation capabilities.