How is managerial remuneration determined in India?

2017 ◽  
Vol 7 (2) ◽  
pp. 154-172 ◽  
Author(s):  
Lakhwinder Singh Kang ◽  
Payal Nanda
Keyword(s):  
Performance Measures ◽  
Fixed Effects ◽  
Governance Structure ◽  
Panel Regression ◽  
Company Performance ◽  
Cross Sectional ◽  
Content Type ◽  
Accounting Performance ◽  
Fixed Effects Panel Regression ◽  
The Impact

Purpose The purpose of this paper is to analyse the impact of company performance, governance structure and ownership structure in determining the managerial remuneration for 134 listed companies in India over the years 2003-2012. Design/methodology/approach Remuneration paid to the board of directors of companies is taken to represent the managerial remuneration. Exogeneity among the company performance measures is verified with the endogtest suggested in Baum et al. (2007). A fixed effects panel regression with clustered standard errors is employed after checking for the presence of heteroskedasticity, autocorrelation and cross-sectional dependence in the data. Findings The study reveals that managerial remuneration increases as the accounting performance of companies improves, whereas the market performance of companies has no significant association with managerial remuneration. The study also shows that foreign institutional shareholding is significantly and positively related with managerial remuneration in India. Research limitations/implications This study highlights the various factors which affect the determination of managerial remuneration in India. These findings can be used as inputs by regulatory authorities in framing and improving governance norms regarding managerial remuneration. This study also suggests that factors other than the number, the independence and objectivity of independent directors are more important in determining managerial remuneration. Originality/value The present study proposes more reliable results, obtained through a fixed effects panel regression model with clustered standard error estimates and also checks endogeneity of performance measures with the endogtest, which is the appropriate test to use for verifying endogeneity in panel data.

scholarly journals The impact of preference-based, person-centered care on regulatory outcomes

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 837-837
Author(s):  
Xiao Qiu ◽  
Katherine Abbott ◽  
John Bowblis ◽  
Kimberly Van Haitsma
Keyword(s):  
Nursing Home ◽  
Fixed Effects ◽  
Pay For Performance ◽  
Performance Indicator ◽  
Panel Regression ◽  
Fixed Effects Panel Regression ◽  
Centered Care ◽  
The Impact ◽  
Everyday Living

Abstract The Preferences for Everyday Living Inventory (PELI) was mandated as a pay for performance indicator by the Ohio Department of Medicaid in 2015. This study explored the impacts of PELI implementation on regulatory outcomes in 2017. The level of PELI implementation from n=551 Ohio nursing home providers between 2015 and 2017 were linked with Centers for Medicare and Medicaid Services Nursing Home Compare data. Fixed effects panel regression analyses assessed the effects of time-varying PELI implementation on 2015-2017 regulatory outcomes that could be correlated with quality of life including fines, substantiated complaints, health scores, deficiency counts and deficiency scores. Results show a significant increase in substantiated complaints among providers that were slow adopters of the PELI. Overall, the extent of PELI implementation was not associated with regulatory outcomes. The use of the PELI may not impact substantiated complaints suggesting further research is needed to identify person-centered outcomes of interest. Part of a symposium sponsored by the Research in Quality of Care Interest Group.

scholarly journals Income inequality and financialization: a not so straightforward relationship

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Constantinos Alexiou ◽  
Emmanouil Trachanas ◽  
Sofoklis Vogiazas
Keyword(s):  
Income Inequality ◽  
Gini Coefficient ◽  
Trade Unions ◽  
Fixed Effects ◽  
Credit Market ◽  
Market Regulation ◽  
Cross Sectional ◽  
Content Type ◽  
Panel Fixed Effects ◽  
The Impact

PurposeThe authors explore the impact of financialization on income inequality for a panel of 19 OECD countries over the period 2000–2017. The authors control for the effect of banking crises, credit market regulation and globalization, among other factors.Design/methodology/approachThe authors use three proxies for income inequality and four proxies for financialization. The authors employ a panel fixed effects approach using Driscoll and Kraay’s (1998) nonparametric covariance matrix estimator, which produces standard errors that are robust to general forms of cross-sectional dependence.FindingsThe authors provide evidence which to a great extent supports the view that the process of financialization has increased income inequality. In the disposable Gini specifications, two out of the four financialization measures are found to significantly contribute to rising inequality whilst in the specification with the market income Gini coefficient, three out of the four financialization proxies appear to adversely affect inequality. In the specification with the Gini coefficient based on manufacturing pay, the evidence is weak. Furthermore, trade unions appear to play a significant role in reducing inequality in two out of the three Gini specifications while the effect of credit market regulation is rather ambiguous.Originality/valueThe authors’ findings suggest a positive relationship between financialization and income inequality; however, the results depend on the proxies used to measure financialization and income inequality. The authors conclude that the process of financialization in triggering income inequality is complex and merits additional research.

scholarly journals The relationship between logistics performance and carbon emissions: an empirical investigation on Balkan countries

2020 ◽  
Vol 12 (4) ◽  
pp. 449-461 ◽  
Author(s):  
Hasan Ağan Karaduman ◽  
Arzu Karaman-Akgül ◽  
Mehmet Çağlar ◽  
Halil Emre Akbaş
Keyword(s):  
Co2 Emissions ◽  
Carbon Emissions ◽  
Fixed Effects ◽  
Carbon Dioxide Emission ◽  
Content Type ◽  
Natural Logarithm ◽  
Fixed Effects Panel Regression ◽  
Balkan Countries ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to analyze the impact of logistics performance on the carbon (CO2) emissions of Balkan countries. Design/methodology/approach Fixed-effects panel regression analysis is used to estimate the causal relationship between CO2 emissions and logistic performances of Balkan countries. Logistics performance is measured by logistics performance index (LPI) which was published by the World Bank in 2007, 2010, 2012, 2014 and 2016 and used for ranking countries by means of their logistics performance. LPI is based on six main indicators: customs procedures, logistics costs and the quality of the infrastructure for overland and maritime transport. As a measure of carbon emissions of sampled countries, the natural logarithm of carbon dioxide emission per capita is used in this study. Findings The results obtained reveal that there is a positive and significant relationship between logistics performance and CO2 performances of the sampled Balkan countries. Research limitations/implications This study is based on only 11 Balkan countries. In this sense, the data used in the analysis is limited. Originality/value Considering the important geostrategic position of the Balkan region, logistics sector has an important role for the development of the countries in that region. In this sense, the findings of this study may provide useful insights for policymakers to achieve sustainable economic development. Furthermore, as far as the authors know, this is the first study that focuses on the relationship between logistics performance and carbon emissions of Balkan countries.

Examination of impact of COVID-19 on stock market: evidence from American peninsula

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ali Amin ◽  
Muhammad Arshad ◽  
Naheed Sultana ◽  
Rabeeya Raoof
Keyword(s):  
South America ◽  
Stock Market ◽  
Fixed Effects ◽  
Negative Impact ◽  
Positive Impact ◽  
Unit Root Test ◽  
Panel Regression ◽  
Content Type ◽  
Stock Indexes ◽  
The Impact

PurposeThe rapid spread of COVID-19 has dramatic effects on financial market across the globe. This study analyzes the relationship between the COVID-19 cases, age and stock market indexes in Central America, North America, and South America.Design/methodology/approachThe panel regression analysis on three regions from March 10, 2020 to April 9, 2020 was conducted to test the hypothesized model. The authors used Levin et al.’s (2002) panel data unit root test to check the stationarity, and Hausman (1978) test was applied to determine the random and fixed effects.FindingsThe authors’ panel regression results indicate that the COVID-19 cases have a negative impact on stock indexes, whereas the age has a positive impact on the stock indexes. The region-wise analysis supports the panel finding except for South America, which shows an insignificant association between stock indexes and COVID-19 cases.Originality/valueThe study supplements the literature by examining the impact of pandemics on stock indexes and focus on three multicultural regions, comprising developed, developing and emerging countries, which are hitherto unaddressed.

scholarly journals Does market digitalization always benefit firms? The Latin American case

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Angelica M. Sanchez-Riofrio ◽  
Nathaniel C. Lupton ◽  
John Gabriel Rodríguez-Vásquez
Keyword(s):  
Latin America ◽  
Firm Performance ◽  
Latin American ◽  
Fixed Effects ◽  
Resistance To Change ◽  
Positive Impact ◽  
Adaptation Strategy ◽  
Content Type ◽  
Fixed Effects Panel Regression ◽  
The Impact

PurposePrior research has found that firms' adoption of digital technologies (i.e. digitalization) enhances transaction efficiency and improves firm performance. However, this finding is based on the assumption that firms respond to consumers' adoption of digital technology (market digitalization) in a timely fashion. The study investigates the impact of market digitalization on firm performance in Latin America, where resistance to change is often higher, despite the positive impact on performance when companies respond to the environmental shock of digitalization by restructuring.Design/methodology/approachUsing data from seven Latin American countries from 1997 to 2018 (Argentina, Brazil, Chile, Colombia, Peru, Venezuela and Mexico), fixed-effects panel regression robustly supports the results.FindingsMost Latin American firms fail to capitalize on the benefits of market digitalization, and their performance declines as a result. The authors extend research on digitalization by incorporating theoretical insights from the restructuring literature, finding that implementing a substantial restructuring strategy is a viable way to overcome market digitalization.Originality/valueThe authors demonstrate that the digitalization–firm performance relationship is more complex than has been described in studies using samples from developed economies. The authors establish restructuring as an effective adaptation strategy in Latin America, although the institutional environment's characteristics may constrain or discourage firms from adopting it.

scholarly journals The path to sustainability

2019 ◽  
Vol 29 (1) ◽  
pp. 84-96
Author(s):  
Faizah Darus ◽  
Hidayatul Izati Mohd Zuki ◽  
Haslinda Yusoff
Keyword(s):  
Climate Change ◽  
Carbon Emissions ◽  
Listed Companies ◽  
Governance Structure ◽  
Emerging Economy ◽  
Low Carbon ◽  
Change Initiatives ◽  
Cross Sectional ◽  
Content Type ◽  
The Impact

Purpose Climate change has become an increasingly important issue globally, and organisations are being urged to be more carbon friendly by taking initiatives to reduce carbon emissions in their business operations. The purpose of this paper is to examine the extent to which climate change has been addressed and the influence of financial strength and corporate governance structure on the disclosure of carbon information. Design/methodology/approach The research process consists of an investigation via content analysis of the annual and sustainability reports of the top 100 public-listed companies in Malaysia for the year 2017. Findings The results of the study revealed that carbon information on carbon emissions accounting had the highest disclosure and that climate change risks and opportunities had the lowest disclosure. The results of the multiple regression analysis revealed that profitability is positively significant with carbon disclosure while leverage is negatively significant. However, the governance structure does not seem to have any influence on the disclosure of carbon information. Research limitations/implications The conclusions drawn from the study must be interpreted with caution as the sample companies only comprise of the top 100 public-listed companies in Malaysia to provide an initial insight into the situation in Malaysia. Furthermore, the interpretations and conclusions drawn from this study are based solely on a cross-sectional analysis of the data for only one year. Practical implications This finding is a significant contribution to regulatory bodies and policymakers regarding the drivers of climate change initiatives in an emerging economy such as Malaysia. This finding suggests that in the Malaysian setting, financial structure influence decisions on climate change initiatives. Social implications The commitment by business leaders of the impact on climate from the production processes would contribute towards a low carbon economy and subsequently improve the quality of life of the community. Originality/value The findings of the study provide insight of the business attitude towards climate change in an emerging economy such as Malaysia.

scholarly journals Women in the boardroom and their impact on climate change related disclosure

2017 ◽  
Vol 13 (4) ◽  
pp. 828-855 ◽  
Author(s):  
Mohammed Hossain ◽  
Omar Al Farooque ◽  
Mahmood Ahmed Momin ◽  
Obaid Almotairy
Keyword(s):  
Fixed Effects ◽  
Carbon Emission ◽  
Gender Diversity ◽  
Data Availability ◽  
Global Perspective ◽  
Women Directors ◽  
Board Size ◽  
Cross Sectional ◽  
Content Type ◽  
The Impact

Purpose This paper aims to investigate the relationship between gender diversity and the Carbon Disclosure Project (CDP) score/index. Specifically, the study describes extant research on theoretical perspectives, and the impact of women on corporate boards (WOBs) on carbon emission issues in the global perspective. Design/methodology/approach This study uses the carbon disclosure scores of the CDP from 2011 to 2013 (inclusive). A total observation for the three-year periods is 1,175 companies. However, based on data availability for the model, the sample size totals 331 companies in 33 countries with firms in 12 geographical locations. The authors used a model which is estimated using the fixed-effects estimator. Findings The outcomes of the study reveal that there is a positive relationship between gender diversity (WOB) and carbon disclosure information. In addition to establishing a relationship between CDP score and other control variables, this study also found a relationship with Board size, asset size, energy consumption and Tobin’s Q, which is common in the existing literature. Research limitations/implications The limitations of the study mostly revolve around samples and the time period. To further test the generalizability and cross-sectional validity of the outcomes, it is suggested that the proposed framework be tested in more socially responsible firms. Practical implications There are increasing pressures for WOBs from diverse stakeholders, such as the European Commission, national governments, politicians, employer lobby groups, shareholders, Fortune and Financial Times Stock Exchange (FTSE) rankings and best places for women to work lists. The study offers insights to policy makers implementing gender quota legislation. Originality/value The study has important implications for putting into practice good corporate governance and, in particular, gender diversity. The outcomes of the analyses advocate that companies that included women directors and had a smaller board size may expect to achieve a higher level of carbon emission performance and to voluntarily disclose the level of carbon information assessment requested by the CDP.

Farm wages and public works

2015 ◽  
Vol 8 (1) ◽  
pp. 19-72 ◽  
Author(s):  
Kanika Mahajan
Keyword(s):  
Theoretical Model ◽  
Wage Rate ◽  
Fixed Effects ◽  
Positive Impact ◽  
Wage Growth ◽  
State Level ◽  
Random Allocation ◽  
Farm Sector ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to examine the impact of National Rural Employment Guarantee Scheme (NREGS) on farm sector wage rate. This identification strategy rests on the assumption that all districts across India would have had similar wage trends in the absence of the program. The author argues that this assumption may not be true due to non-random allocation of districts to the program’s three phases across states and different economic growth paths of the states post the implementation of NREGS. Design/methodology/approach – To control for overall macroeconomic trends, the author allows for state-level time fixed effects to capture the differences in growth trajectories across districts due to changing economic landscape in the parent-state over time. The author also estimates the expected farm sector wage growth due to the increased public work employment provision using a theoretical model. Findings – The results, contrary to the existing studies, do not find support for a significantly positive impact of NREGS treatment on private cultivation wage rate. The theoretical model also shows that an increase in public employment work days explains very little of the total growth in cultivation wage post 2004. Originality/value – This paper looks specifically at farm sector wage growth and the possible impact of NREGS on it, accounting for state specific factors in shaping farm wages. Theoretical estimates are presented to overcome econometric limitations.

scholarly journals From Micro to Macro: Exploring Preference-Based Person Centered Care from Multiple Perspectives

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 836-836
Author(s):  
Katherine Abbott ◽  
Kristine Williams
Keyword(s):  
Nursing Home ◽  
Assisted Living ◽  
Fixed Effects ◽  
Nursing Home Residents ◽  
Direct Care ◽  
Multiple Perspectives ◽  
Person Centered Care ◽  
Fixed Effects Panel Regression ◽  
Centered Care ◽  
The Impact

Abstract Advancing our knowledge related to honoring nursing home resident preferences is a cornerstone of person-centered care (PCC). While there are multiple approaches to providing PCC, we focus on resident preferences as assessed via the Preferences for Everyday Living Inventory (PELI). The PELI is an evidenced-based, validated instrument that can be used to enhance the delivery of PCC. In this symposium, we explore the perspectives of a variety of stakeholders including nursing home residents, staff, and the impact of preference-based care on provider level regulatory outcomes. First, we present a comparative study of preference importance among n=317 African America and White nursing home residents that found more similarities than differences between the two groups. Second, a content analysis of the responses from n=196 interviews with nursing home residents details the barriers and facilitators connected to their levels of satisfaction with their preferences being fulfilled. Third, perspectives from n=27 direct care workers explore the concept of pervasive risk avoidance to the delivery of PCC. Fourth, systems-level practices, such as shift assignments and provider schedules are identified as barriers to successfully fulfilling resident preferences from the perspectives of n=19 staff within assisted living. Our final presentation utilizes a fixed-effects panel regression analysis with n=551 Ohio nursing home providers to explore the impact of PELI use on regulatory outcomes such as substantiated complaints and deficiency scores reported in the CMS Nursing Home Compare data. Discussant Dr. Kristi Williams will integrate findings, highlighting implications for policy, practice, and future directions. Research in Quality of Care Interest Group Sponsored Symposium.

Clients’ means of influence on mortgage valuation in Nigeria

2015 ◽  
Vol 33 (4) ◽  
pp. 367-385 ◽  
Author(s):  
Chukwuma C. Nwuba ◽  
Uche S. Egwuatu ◽  
Babatunde M. Salawu
Keyword(s):  
Risk Mitigation ◽  
Hierarchical Linear Model ◽  
Firm Characteristics ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Content Type ◽  
Mortgage Valuation ◽  
Research Designs ◽  
Client Pressure ◽  
The Impact

Purpose – The purpose of this paper is to investigate client influence on mortgage valuation in Nigeria to establish and rank the means of influence clients employ, and the impact of firm characteristics on client influence. Design/methodology/approach – A combination of cross-sectional survey and focus groups research designs was adopted. Questionnaire structured on five-point Likert format was used to collect data from a sample of valuation firms in five Nigerian cities. Descriptive statistics, χ2, and moderated hierarchical linear model were used for data analysis. Findings – Clients’ means of influence on valuation are more of subtle approach than threat or coercion. The most prevalent means are respectively, plea for assistance, promise of continued retainership on banks’ valuer panels, and disclosing the loan amount. Client influence differs across cities; firm characteristics have no influence on client pressure. Practical implications – The research provides basis for valuation bodies to review practice rules and standards and seek for legislation for valuer independence. It can serve as material for teaching and training in professional ethics. Social implications – Biased valuations jeopardises credit risk mitigation process with potential for destabilising banks, finance sector, and consequences for the economy. Originality/value – The study provides empirical evidence of the nature of client influence across several major Nigerian cities. In contrast to existing Nigerian studies that focus on single cities, the study covers several cities. It therefore provides a broad basis for problem-solving and decision-making.

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