This paper aims to examine the impact of public scrutiny on chief executive officer (CEO) compensation at Standard & Poor’s (S&P) 500 firms.
Abstract
Purpose
This paper aims to examine the impact of public scrutiny on chief executive officer (CEO) compensation at Standard & Poor’s (S&P) 500 firms.
Design/methodology/approach
This paper uses the unique opportunity provided by the 2008 financial crisis and, in particular, government support and legislated compensation restrictions in the US Department of the Treasury’s Troubled Asset Relief Program (TARP). It aggregates monetary and non-monetary executive compensation information from 2006 to 2012, with firm- and manager-level data. It presents univariate summary compensation results and uses multivariate regression analysis to isolate the impact of public scrutiny and legislated compensation restrictions on executive pay.
Findings
Overall, the results are consistent, with increased public scrutiny having a lasting impact on perks and temporary impact on wage and legislated compensation restrictions having a temporary impact on wage. Changes in specific perk items provide evidence on which perks firms perceive as excessive and which provide common value.
Originality/value
The paper contributes to the discussion of perks as excess by introducing a novel data set of perk compensation at S&P500 firms and by studying how firms choose to alter levels of specific perk items in response to increased public scrutiny and legislated compensation restrictions. The paper contributes to the literature on executive pay as there has been little inquiry into the impact of public scrutiny on compensation. Public scrutiny could be an important source of external governance if firms change behavior in response to explicit and implicit scrutiny costs.
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This is an exploratory study that aims to explore the use (practice) of business continuity management (BCM) and the effectiveness of the BCM approach adopted by organizations…
Abstract
Purpose
This is an exploratory study that aims to explore the use (practice) of business continuity management (BCM) and the effectiveness of the BCM approach adopted by organizations from a variety of sectors.
Design/methodology/approach
The sample of this study consisted of 250 organizations from a variety of sectors: 80 industrial; 15 banking; 25 insurance; 130 services organizations. An interviewer-administered questionnaire was used to collect data.
Findings
The findings indicated that there is an increased awareness about the use of BCM across different sectors including the industrial, service, banking and insurance and that the current use of BCM is irrespective of a number of organizational characteristics.
Practical implications
This research investigates the current use/practice of BCM across a variety of sectors. It is therefore considered a significant preliminary study that paves the way for further future research studies related to the use of BCM in the Middle East. It also clarifies the current levels of application of BCM which subsequently facilitates and supports the wider adoption of BCM and commitment to adopt the best practices related to it across different sectors.
Originality/value
To the best of author's knowledge, this is one of very few studies which focus on the use/practice of BCM and approach’s effectiveness that have been conducted in the Middle East and in Jordan in particular. It reveals the extent to which BCM is being adopted across the various sectors which in turn reflects the levels of understanding and awareness of the significance of this process for today's organizations and for the continuity of their critical business functions during the occurrence of different sorts of disruptive incidents.
In 1976, in a speech at Ruskin College, Oxford, Prime Minister James Callaghan asked ‘Why is it that such a high proportion of girls abandon science before leaving school?’ …
Abstract
In 1976, in a speech at Ruskin College, Oxford, Prime Minister James Callaghan asked ‘Why is it that such a high proportion of girls abandon science before leaving school?’ (Gillard, 2018). Little has changed over the last 40 years; a recent report from the National Audit Office (2018, p. 28) stated that only 8% of science, technology, engineering and mathematics (STEM) apprenticeships were taken up by women in 2016/2017 and that the shortage of STEM skills in the workforce is a key UK economic problem. However, just as the Aldridge marriage has been the source of considerable interest and the site of significant financial investment in terms of designer kitchens and expensive holidays, so has the issue of ‘girls in science’ been a consistently debated topic and taken up a large chunk of government and industry spending. Research (Archer et al., 2013) suggests that although children enjoy their science experiences in school, too few pupils aspire to a STEM career. It reveals that the pupils most likely to aspire to careers in science are those whose families have high ‘science capital’ which ‘refers to the science-related qualifications, understanding, knowledge (about science and “how it works”), interest and social contacts (e.g. “knowing someone who works in a science-related job”)’ (Archer et al., 2016, p. 3).
Episodes of The Archers are full of scientific talk, from herbal leys to plate meters. This chapter looks at how the science capital in Ambridge is shared. Why is Alice Carter an engineer and not Emma Grundy? Will Kiera Grundy choose physics A level? Who are the female STEM role models? How can the concept of science capital help us to understand the career paths of Ambridge residents? Will the young girls of Ambridge remedy the gender imbalance in STEM careers?
Rebecca A. Marcon, Phyllis K. Kalifeh, Beverly G. Esposito, Lynn C. Hartle and Saralyn R. Grass
Florida Partners in Education and Research for Kindergarten Success (PERKS) was an effective, large-scale professional development initiative to move Florida's early childhood…
Abstract
Florida Partners in Education and Research for Kindergarten Success (PERKS) was an effective, large-scale professional development initiative to move Florida's early childhood workforce toward increased education and improved practices. This 7-month professional development intervention succeeded in increasing teacher knowledge, enhancing quality of the classroom literacy environment, and notably improving language development of children in high-need communities. These changes were generally sustained as seen in positive ratings of the classroom literacy environment a year later and children's maintenance of learning across the summer months prior to kindergarten entry. In addition, Florida PERKS provided preliminary answers regarding intensity of technical assistance needed to create positive change. Technical assistance delivered onsite was best, with no notable advantage found for weekly over monthly visits. To fully sustain change, however, may require continued support of teachers beyond a single school year when working with teachers who lack college degrees.
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Arash Azadegan, Tahir Abbas Syed, Constantin Blome and Kayhan Tajeddini
Does internal integration extend to business continuity and to managing supply chain disruptions (SCDs)? Despite the voluminous literature on supply chain integration, evidence on…
Abstract
Purpose
Does internal integration extend to business continuity and to managing supply chain disruptions (SCDs)? Despite the voluminous literature on supply chain integration, evidence on its effectiveness on risk management and disruption response is scant. The purpose of this paper is to assess the effectiveness of business continuity management (BCM) and of supply chain involvement in BCM (SCiBCM) on reputational and operational damage containment in the face of SCDs.
Design/methodology/approach
This study draws on Simons’ Levers of Control framework to explain how the involvement of supply chain in BCM affects firm capabilities in containing damages caused by major SCDs. The authors develop and test hypotheses by analyzing large-scale questionnaire responses from 448 European companies.
Findings
Results of the data analysis suggest that BCM improves reputational damage containment, whereas SCiBCM improves operational damage containment. The findings also show that the significant effects of BCM and SCiBCM on reputational and operational damage containment, respectively, were amplified for the firms facing higher supply chain vulnerability. Post-hoc analysis further reveals the complementarity effect between BCM and SCiBCM for the companies exposed to high supply chain vulnerability.
Originality/value
Evidence on the effects of BCM and its internal integration on performance is limited. This study offers empirical evidence on the topic. Also, while supply chain integration can improve information sharing and coordination, some may not fully recognize its potential benefits in addressing SCDs. This study theoretically and empirically demonstrates the role played by internal integration, in the form of SCiBCM, in improving organizational damage containment efforts.
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This study aims to explore how insurance organisations interpret organisational resilience; to identify potential objectives, elements and practices of organisational resilience…
Abstract
Purpose
This study aims to explore how insurance organisations interpret organisational resilience; to identify potential objectives, elements and practices of organisational resilience within insurance organisations; and to investigate the impact of culture on resilience.
Design/methodology/approach
An empirical study in the insurance industry in Jordan was undertaken. The population consists of all 28 insurance companies registered at the Amman Stock Exchange. Data were collected via a survey questionnaire followed by three semi-structured interviews.
Findings
Results revealed that respondents understand the meaning of organisational resilience differently. Various factors constitute organisational resilience in Jordanian insurance organisations. Nevertheless, some key factors that have the potential to improve organisational resilience were missing. Culture influenced the level of organisational resilience considerably.
Practical implications
This study provides insights into the factors that enable organisations to withstand future risks, which, in turn, ensures long-term survival. It also reveals how culture affects the level of organisational resilience. This paper provides a basis for policymakers in Jordan to start actively considering existing resources and cultural trends to introduce new frameworks for improving resilience in the insurance sector.
Originality/value
This study is made in the context of an emerging economy; Jordan. It uses quantitative and qualitative research approaches. It is also one of the few studies to discuss resilience in relation to culture and within the insurance sector.
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Steven A. Dennis and William Steven Smith
We examine the ability of co-founders of a firm to create an artificial (or “homemade”) dividend as in Miller and Modigliani (1961). We employ traditional discounted valuation in…
Abstract
We examine the ability of co-founders of a firm to create an artificial (or “homemade”) dividend as in Miller and Modigliani (1961). We employ traditional discounted valuation in showing that the act of creating an artificial dividend may decrease the value of the firm because it can divert funds from investment to the consumption of perquisites. Only where there is complete trust in the party to which the shares are sold can a co-founder costlessly create an artificial dividend. It seems likely that a dividend policy, idiosyncratic to the firm’s founders, would be established at the founding of the firm.
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Evan J. Douglas and Robyn J. Morris
There is a lack of theoretical development on the question of why people work long hours and the nature of “workaholism”. This paper seeks to demonstrate a variety of reasons that…
Abstract
Purpose
There is a lack of theoretical development on the question of why people work long hours and the nature of “workaholism”. This paper seeks to demonstrate a variety of reasons that induce a person to work “excessively”.
Design/methodology/approach
This paper discerns three subcategories of the “work enthusiast”: “materialist”, “the low‐leisure” and the “perkaholic” hard workers. It is demonstrated that these work enthusiasts work long hours for relatively high job satisfaction, while workaholics gain relatively low job satisfaction. Inflicting negative externalities on fellow workers is argued to be a separate issue – any one of the hard workers might irk their fellow workers by working “too hard” or by their individual mannerisms. This paper uses the economist's utility‐maximization model to build a conceptual model of voluntary work effort that explains the work effort decision of individuals.
Findings
Individuals will work long hours when motivated to do so by the satisfaction they derive separately and collectively from income (materialism); leisure; perquisites; and work per se. It is argued that only the person who is strongly motivated by the latter reason is properly called a workaholic, and that the imposition of negative externalities on co‐workers is a separate issue that might also involve work enthusiasts.
Originality/value
The paper advances the understanding of work motivation and workaholic behavior and presents a series of researchable propositions for empirical testing.
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The purpose of the study is to identify and develop a framework to clarify facilitating orchestrator hub-team roles; their interactions, linked capabilities and activities; and…
Abstract
Purpose
The purpose of the study is to identify and develop a framework to clarify facilitating orchestrator hub-team roles; their interactions, linked capabilities and activities; and the hub-team concept. This framework is illustrated by a case study of an orchestrator hub-team facilitating cross-country and network co-creation in Northern Sweden, Norway and Finland.
Design/methodology/approach
The following two approaches are used: a conceptual approach that combines various source materials and concepts related to the “bricolage approach”; and an empirical approach that illustrates the conceptual framework using a longitudinal, qualitative, single-case study and the action research method.
Findings
By combining research related to three differing yet somewhat overlapping research perspectives, three facilitating orchestrator hub-team roles are identified, linked to orchestrator capabilities and activities relevant to innovative value creation in extensive networks including both private and public actors highlighting the role of people in networks. An orchestrator hub-team framework and five related activity categories are developed and introduced.
Research limitations/implications
This study contributes to research on the orchestration of innovative co-creation in extensive networks and network management by clarifying the facilitating orchestrator hub-team roles and their related capabilities and activities, and thereby describing the role of a centrally positioned hub-team.
Practical implications
The hub-team framework may bring structure and understanding to hub-teams, thus easing and enabling orchestration and value co-creation.
Originality/value
This study offers a further developed, integrated framework for intermediating the facilitating roles of a hub-team orchestrating extensive network and public/private co-creation.