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Article
Publication date: 1 July 2005

Lionel Martellini and Branko Urošević

Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex‐ante, i.e., before uncertain ties are…

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Abstract

Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex‐ante, i.e., before uncertain ties are resolved, cash bonuses are valued ex‐post, i.e., by discounting the realized cash grants. Such a lack of consistency can, potentially, distort empirical results. A related, yet mostly overlooked, problem is that when ex‐post valuation is used pay‐performance measures cannot be well defined. Consistent use of ex‐ante valuation for all components of a compensation package would simultaneously resolve both of these problems and provide a natural framework for the analysis of agency problems. In this paper, we perform ex‐ante valuation of cash bonus contracts as if the executive’s performance were measured by the company stock price, demonstrate how the shape of the bonus contract influences the executive’s attitude toward risk, and study the pay‐performance sensitiv ty of such contracts. We commence by demonstrating that a typical executive bonus contract with a linear incentive zone has a pay off structure equivalent to a portfolio of standard and binary European call options so that the ex‐ante contract value is given by the linear combination of Black and Scholes call and binary call prices, with the strike prices at the boundary points of the incentive zone. Assuming that a risk neutral executive can choose the level of stock price volatility by selecting a set of projects at origination, we show that bonus contract terms can dramatically affect the executive’s risk taking behavior and pay performance incentives. Our results are extended to bonus contracts with non‐linear incentive zones, and performance share contracts with vesting risk.

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Managerial Finance, vol. 31 no. 7
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 18 March 2011

Wendi Cross and Jennifer West

The positive outcomes demonstrated in programme efficacy trials and the apparent ineffectiveness of programmes in community settings have prompted investigators and practitioners…

496

Abstract

The positive outcomes demonstrated in programme efficacy trials and the apparent ineffectiveness of programmes in community settings have prompted investigators and practitioners to examine implementation fidelity. Critically important, but often overlooked, are the implementers who deliver evidence‐based programmes. This article distinguishes fidelity at the programme level from implementer fidelity. Two components of implementer fidelity are defined. It is proposed that implementer adherence and competence are related but unique constructs that can be reliably measured for training, monitoring and outcomes research. Observational measures from a school‐based preventive intervention are used to illustrate the contributions of implementer adherence and competence. Distinguishing implementer adherence to the manual from competence in programme delivery is the next step in child mental health programme implementation research.

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Journal of Children's Services, vol. 6 no. 1
Type: Research Article
ISSN: 1746-6660

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Article
Publication date: 27 September 2010

Elspeth Bradley and Thomas Cheetham

The paper provides a Canadian perspective on the use of psychotropic medication in the management of problem behaviours in adults with intellectual disabilities in Canada…

248

Abstract

The paper provides a Canadian perspective on the use of psychotropic medication in the management of problem behaviours in adults with intellectual disabilities in Canada. Psychotropic medication and intellectual disabilities were explored in the context of Canadian health and social services, clinical practices, medical training and factors that have shaped these over the past few decades. Informal physician intellectual disabilities networks and the newly formed Canadian Network of the National Coalition on Dual Diagnosis provided the opportunity to survey the use of psychotropic medication for problem behaviours across the country. Geographic, political, cultural and other influences on the development of health and social services are described, as well as training requirements for physicians. Survey responses were received from all provinces and represented clinicians in mental health multidisciplinary teams, health and social services ministry representatives, agency staff (up to executive director level) and family members of individuals with intellectual disabilities. Psychiatry and family medicine perspectives of the authors from working in Canada and the UK with people with intellectual disabilities presenting with problem behaviours are described. In Canada there are no national, provincial or territorial policies or guidelines on use of psychotropic medication for the management of such behaviours. There are no requirements for physicians prescribing these medications to have training in the care of people with intellectual disabilities. Services for people with intellectual disabilities and behaviour problems in Canada appear to be more crisis‐reactive than those in the UK.

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Advances in Mental Health and Intellectual Disabilities, vol. 4 no. 3
Type: Research Article
ISSN: 2044-1282

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Article
Publication date: 7 November 2016

Shi-Woei Lin and Mohammad Adam Jerusalem

The purpose of this paper is to develop comprehensive criteria for evaluating fashion design schemes and used an integrated model which considers the interrelation between the…

802

Abstract

Purpose

The purpose of this paper is to develop comprehensive criteria for evaluating fashion design schemes and used an integrated model which considers the interrelation between the clusters of evaluation and the influence between criteria for evaluating alternative fashion design schemes.

Design/methodology/approach

The integrated approach uses the advantages of all three methods: the Decision-Making Trial and Evaluation Laboratory (DEMATEL) can be used to analyse the interrelations between the major clusters of fashion design evaluation. The analytical network process can calculate the criterion weight that is adjusted based on the influence between different elements in the decision framework. The Visekriterijumska Optimizacija I Kompromisno Resenje (VIKOR) determines the best fashion design by ranking a set of designs by using ten conflicting criteria.

Findings

Style is the decisive dimension because it is highly affected by other clusters. The comfort of the style is the most crucial criterion. “Veracious” is the best and most preferred design scheme.

Originality/value

The study develops the decisive cluster and criteria in designing a fashion design scheme. The proposed approach can be used as a decision analysis tool in fashion design and other fields and has various advantages (e.g. considering interrelations between clusters and influences between criteria, and ranking a set of alternatives), and therefore, is appropriate for practical circumstances.

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International Journal of Clothing Science and Technology, vol. 28 no. 6
Type: Research Article
ISSN: 0955-6222

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Article
Publication date: 1 March 1998

Robin Stryker

Introduces a special issue on globalization and the welfare state. Asserts that economic globalization constrains national economic and social policy far more now than ever…

6070

Abstract

Introduces a special issue on globalization and the welfare state. Asserts that economic globalization constrains national economic and social policy far more now than ever before, although the level of international trade has not increased that much compared to levels at the beginning of this century. Talks about the political consequences of economic globalization, particularly welfare state retrenchment in the advanced capitalist world. Outlines the papers included in this issue – comparing welfare system changes in Sweden, the UK and the USA; urban bias in state policy‐making in Mexico; and the developing of the Israeli welfare state. Concludes that economic globalization has a limited effect in shaping social welfare policy in advanced capitalist countries; nevertheless, recommends further research into which aspects of economic globalization shape social welfare policy.

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International Journal of Sociology and Social Policy, vol. 18 no. 2/3/4
Type: Research Article
ISSN: 0144-333X

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Book part
Publication date: 13 August 2018

Robert L. Dipboye

Abstract

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The Emerald Review of Industrial and Organizational Psychology
Type: Book
ISBN: 978-1-78743-786-9

Available. Content available
Book part
Publication date: 20 June 2017

David Shinar

Free Access. Free Access

Abstract

Details

Traffic Safety and Human Behavior
Type: Book
ISBN: 978-1-78635-222-4

Available. Open Access. Open Access
Article
Publication date: 12 October 2021

Zheng Li and Siying Yang

A city is a spatial carrier of innovation activities. Improving the level of urban innovation can play a significant supporting role in building an innovative country. China began…

2072

Abstract

Purpose

A city is a spatial carrier of innovation activities. Improving the level of urban innovation can play a significant supporting role in building an innovative country. China began to implement the innovative city pilot policy in 2008 and continued to expand the policy into more areas for exploring the path of innovative urban development with Chinese characteristics and improving urban innovation.

Design/methodology/approach

Based on mechanism analysis, this paper used the panel data of 269 cities from 2003 to 2016 to empirically test the effect of the pilot policy on the level of urban innovation by using different methods, such as the difference-in-differences model.

Findings

The results show that the innovative city pilot policy significantly improves the level of urban innovation. However, according to the findings of the heterogeneity analysis, the effect of the pilot policy on improving the innovation level in direct-controlled municipalities, provincial capitals and sub-provincial cities is weaker than that in ordinary cities, and the effect of the pilot policy on improving the innovation level in cities with a higher quality of science and education resources is weaker than that in cities with lower quality of science and education resources.

Originality/value

Moreover, as the level of urban innovation increases, the effect of the pilot policy on improving the level of urban innovation is an asymmetric inverted V shape, which means the effect is first strengthened and then weakened. The research also finds that the locational heterogeneity of the pilot policy for improving the level of urban innovation is not notable. In addition, the innovative city pilot policy can strengthen the government's strategic guidance, promote the concentration of talent, incentivize corporate investment and optimize the innovation environment, having a positive impact on urban innovation. Moreover, the effect of concentration of talent and the effect of corporate investment incentive are the important reasons for the pilot policy to promote the improvement of the level of urban innovation.

Details

China Political Economy, vol. 4 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Abstract

Details

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview
Type: Book
ISBN: 978-1-80043-786-9

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Article
Publication date: 25 February 2011

Daisy Bogg

The emphasis on outcomes rather than process is an area that is receiving significant attention across the delivery of public sector services, and the question ‘so what?’ is…

332

Abstract

The emphasis on outcomes rather than process is an area that is receiving significant attention across the delivery of public sector services, and the question ‘so what?’ is increasingly being asked of service providers. With service user self‐direction being the focus of both provision and commissioning over the coming years, there will be an increasing need to justify the delivery and development of social care in terms of the end result. Strong leadership and vision is required across the public sector if this change, in both organisational culture and service user expectation, is to be achieved.Leadership as both a competency and an organisational function has been well researched within health and social care. The literature largely points towards the need for clarity and strength within the strategic vision, especially when considering the management of change and multifaceted partnerships, both of which are crucial to the delivery of social care outcomes. The actual detail of the outcome framework, and the means by which it can be measured and quantified, is still an area of debate, and as such the aim here is to highlight some of the benefits and barriers that may be faced as the reform of the social care system evolves, with a specific focus on the impact that leadership can have on the delivery of an outcome‐focused mental health social care serviceThe analysis of outcome‐focused organisations is a relatively new concept in health and social care, and as such this paper seeks to debate the evidence in terms of whether leadership contributes to better service user outcomes in mental health social care. Dynamics within organisations, professions and with service users are all key considerations in the achievement of positive outcomes, and the role of the leader is to empower the staff group to power share and move towards co‐production in order to embed choice, control and service user contribution in the overall philosophy and culture of mental health service provision and developments.The overall conclusions of this paper are that leadership is important in terms of shaping services, ensuring governance and promoting innovation, and as a result it is possible to suggest that leadership and positive outcomes do have a direct correlation.

Details

International Journal of Leadership in Public Services, vol. 7 no. 1
Type: Research Article
ISSN: 1747-9886

Keywords

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