Do credit unions have distinct objectives? Evidence from executive compensation structures

This paper examines the relative sensitivity of CEO compensation of both acquiring and acquired firms in the top 30 U.S. largest corporate acquisitions in each year for the period of 2003 to 2012. We find that total compensation and bonus granted to executive compensation for acquired companies, not acquiring companies, are significantly related to the amount of acquisition deal even after the size and firm performance are controlled for. Both acquiring and acquired CEOs are found to make the significantly higher compensation than the matched sample firms in the same industry and calendar year. We also find that executives with higher managerial power, as measured by a lower salary-based compensation mix, prior to a corporate acquisition are more likely to receive a higher executive pay in the year of acquisition. The association between executive compensation and managerial power seems to be stronger for acquired firms than for acquiring firms in corporate acquisition. Overall, our findings suggest that corporate acquisition has higher impacts on executive compensation for acquired firm CEOs than for acquiring firm CEOs.

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ANALISIS FAKTOR PENENTU KOMPENSASI EKSEKUTIF DAN HUBUNGAN KOMPENSASI EKSEKUTIF DENGAN KINERJA PERUSAHAAN

Jurnal Sains dan Teknologi Indonesia ◽

10.29122/jsti.v11i3.835 ◽

2013 ◽

Vol 11 (3) ◽

Author(s):

Dyan Vidyatmoko ◽

Bunasor Sanim ◽

Hermanto Siregar ◽

M. Said Didu

Keyword(s):

Financial Performance ◽

Executive Compensation ◽

Structural Equation ◽

Equation Model ◽

Product Diversification ◽

Learning Performance ◽

Market Area ◽

Job Complexity ◽

Positive Correlation ◽

Volume Output

The objectives of this research were (1) to analyse determinants of the influencing factors of the Indonesian Estate State-owned enterprises’ executive compensations; and (2) to analyse the relationship between compensation executive and firm performances. Statistical methods used for analysing these objectives were Structural Equation Model (SEM), contingency analysis, regresion analysis and qualitative analysis. The study found out that from all identified variables, executive decision mechanism, job complexity, firm size, firm ability to pay compensation, and product diversification and market expansionhad positive correlation and significant influenced to executive compensation. Human capital, business risk, executive employment market had significant correlations to executive compensation. The research had also shown a result that executive compensation provide positive correlation and significant influence towards financial performance (EBIT), customer performance (sales volume, output price, market area), internal process performance (OER target, OER realisation), and growth and learning performance (number of training investment, number of employees participated intraining). However, executive compensation did not give positive correlation and significant influenced towards financial performance (ROE) and customer performance(market share). This research also showed that direction of executive compensation was heading to company’s performance and not the opposite way.

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STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

UKRAINIAN ASSEMBLY OF DOCTORS OF SCIENCES IN PUBLIC ADMINISTRATION ◽

10.31618/vadnd.v1i11.12 ◽

2018 ◽

Vol 1 (11) ◽

pp. 30-47

Author(s):

Lyudmila Nikolayevna Akimova ◽

Alla Vasilievna Lysachok

Keyword(s):

Life Insurance ◽

Financial Services ◽

Credit Unions ◽

State Regulation ◽

The State ◽

Existing Problems ◽

Insurance Contracts ◽

State Pension

The essence of such concepts is “financial service”, “financial ser- vices market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regu- lation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory le- gal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial ser- vices markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mecha- nisms in the financial services markets by developing a system for guarante- eing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

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