Management Team Incentive Alignment and Firm Value

2012 ◽  
Author(s):  
Zhonglan Dai ◽  
Robert M. Bushman ◽  
Weining Zhang
Keyword(s):  
Firm Value ◽  
Management Team ◽  
Incentive Alignment ◽  
Team Incentive

Family CEOs vs. Nonfamily CEOs in the Family-Controlled Firm: An Examination of the Level and Sensitivity of Pay to Performance

2000 ◽  
Vol 13 (2) ◽  
pp. 121-131 ◽  
Author(s):  
Daniel L. McConaughy
Keyword(s):  
Firm Value ◽  
Ceo Compensation ◽  
Family Firms ◽  
Multivariate Analyses ◽  
Incentive Alignment ◽  
Founding Family ◽  
The Family

This study examines CEO compensation in 82 founding-family-controlled firms; 47 CEOs are members of the founding family and 35 are not. It tests the family incentive alignment hypothesis, which predicts that family CEOs have superior incentives for maximizing firm value and, therefore, need fewer compensation-based incentives. Univariate and multivariate analyses show that family CEOs' compensation levels are lower and that they receive less incentive-based pay—confirming the family incentive alignment hypothesis and suggesting the possible need for family firms to increase CEO compensation when they replace a founding family CEO with a nonfamily-member CEO.

scholarly journals Family in Top Management Team and Firm Value: Do Gender and Education of Family Manager Matter?

2020 ◽  
Vol 5 (2) ◽  
pp. 146
Author(s):  
Hadi Sumarsono
Keyword(s):  
Firm Value ◽  
Empirical Relationship ◽  
Top Management Team ◽  
Family Members ◽  
Family Firm ◽  
Management Team ◽  
Top Management ◽  
Upper Echelons Theory ◽  
Gender And Education ◽  
The Family

The in-hand study sheds some light on empirical relationship between involvement of family members in the top management team and family firm value. Specifically, this study examines how gender and education of family managers affect firm value in Indonesian context. The total sample employed in this study consisted of 935 observations with 235 family companies. The data required in this study were collected from various sources. Drawing on fixed effect regression, the results identified that the involvement of family members in top management team significantly affected the family firm value. It was also revealed that the female family manager had a lower firm value than the male family manager. Moreover, the education level of the family manager positively affected the firm value. These results provide an empirical evidence on how gender and education of family managers influence family firm value. It is further depicted that the results of this study are in line with the upper echelons theory in which the differences in human resources (e.g. gender and education) arisen from the family involvement in a management undeniably affect family firm value. As for the practical contribution, this study suggests that powerful actors in the family firms should be a family member involved in a management. It is also a worth saying that the involvement of family members on the top management teams should consider gender and level of education.

Firm-specific risk, managerial certainty and optimism

2016 ◽  
Vol 9 (3) ◽  
pp. 383-402 ◽  
Author(s):  
Vivien E. Jancenelle ◽  
Susan F. Storrud-Barnes ◽  
Anthony L Iaquinto ◽  
Dominic Buccieri
Keyword(s):  
Firm Value ◽  
Research Question ◽  
Top Management Team ◽  
Management Team ◽  
Top Management ◽  
Conference Calls ◽  
Earnings Announcement ◽  
Content Type ◽  
Quarterly Earnings ◽  
Specific Risk

Purpose – The purpose of this paper is to focus on investor reactions to unanticipated changes in income, and whether those reactions can be mitigated by managerial discussion. The authors investigate how top-management team certainty and optimism during post-earnings announcement conference calls can serve as corrective actions and add back firm value in times of unexpected changes in firm-specific risk. Design/methodology/approach – The research question is tested empirically in the context of large, publicly traded, US firms’ quarterly earnings announcements, and their subsequent post-earnings announcement conference calls. The authors use the advanced content analysis software DICTION to measure the levels of managerial certainty and optimism displayed during post-earnings announcement conference calls, and event-study methodology to measure investors’ reactions. Findings – Results indicate that earnings surprises are negatively associated with firm value, but that this relationship is mitigated positively by displays of managerial certainty and optimism during post-earnings announcement conference calls. Originality/value – This work uses an innovative research design to study top-management team rhetoric in post-earnings announcement conference calls, and how specific discussions mitigate investors’ negative reactions to increases in firm-specific risk. The study highlights the importance of top-management team certainty and optimism for value creation in times of change in firm-specific risk, and the importance of rhetoric as a tool for corrective action.

scholarly journals Criteria and indicators for determining the efficiency of the school management team

2020 ◽  
Vol 45 (2) ◽  
pp. 37-43
Author(s):  
Margareta Simerețchii
Keyword(s):  
School Organization ◽  
School Management ◽  
Management Team ◽  
Psychological Development ◽  
Criteria And Indicators ◽  
Managerial Skills ◽  
The Creation ◽  
Teamwork Skills ◽  
Team Incentive ◽  
Self Formation

The article reflects aspects concerning the degree of applicability of the criteria and indicators in determining the efficiency of the school management team. The indicators classified on social, cultural, psychological development domains, of teamwork skills and managerial skills highlight ways of transformation of the management team, incentive in the creation of a macro team of the school organization. Through applying the grid it follows the tendency of the managerial cadres to self-improvement, self-formation and amplification of the chances for the team to become effective.

Pengaruh Kinerja Keuangan Dan Corporate Social Responsibility (CSR) Terhadap Nilai Perusahaan Perbankan Di Bursa Efek Indonesia

2018 ◽  
Vol 26 (1) ◽  
pp. 95-111
Author(s):  
Sulastiningsih Sulastiningsih ◽  
Rizka Imanita Sholihati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Firm Value ◽  
Research Method ◽  
Quantitative Research ◽  
Annual Report ◽  
Stock Exchange ◽  
Secondary Data ◽  
Corporate Social

This study aims to determine whether the financial performance measured by using CAR, ROA, LDR, BOPO, and CSR can affect the value of banking companies as measured by using PBV. This study uses secondary data taken from the annual report of banking companies during the year 2012-2016 listed on the Indonesia Stock Exchange. The number of samples of this study as many as 25 banking companies with a total of 125 data. This research method is quantitative research. The results of this study indicate the effect of CAR, ROA, LDR, BOPO, and CSR variables on firm value measured by using PBV in a banking company listed on the Indonesia Stock Exchange. Keywords: CAR, ROA, LDR, BOPO, CSR, PBV

Siklus Akuntansi, Transparansi, Dan Akuntabilitas Atas Penggunaan Dan Pertanggungjawaban Keuangan Dana BOS Di SDIT X Di Depok, Jawa Barat

Liquidity ◽  
2016 ◽  
Vol 5 (1) ◽  
pp. 53-64
Author(s):  
Yumniati Agustina
Keyword(s):  
Compulsory Education ◽  
Management Team ◽  
The Other ◽  
Operating Costs ◽  
Final Report ◽  
Fund Management ◽  
Government Program ◽  
Financial Accountability ◽  
The Republic ◽  
Transparency And Accountability

Investigation in various regions in Indonesia found indications of the alleged fraud that result from unccountable use and management of BOS funds. Among the findings, including payments that do not fit the technical guidelines, no accountability report, and the use of funds with unaccountable receipt. In the Regulation of the Minister of Education and Culture of the Republic of No. 161/2014, stated that: BOS is a government program that is basically forfunding the nonpersonnel operating costs of the primary education as the implementer of compulsory education program. The purpose of this study were (1) to analyze the accounting cycle and financial accountability for the use of BOS funds in the 2015, (2) to analyze the compliance of the accounting cycle and financial accountability of the BOS funds, (3) to analyze the transparency and accountability of BOS fund’s reports. The observed elementary school is SDIT X in Depok, West Java. Result shows that they do not fully compliance to the appropriate regulatory technical guidelines. On the other hand, the transparency and accountability issues show that: (1) BOS Management Team, Teachers Council and School’s Committee’s involvement in the BOS fund management, and (2) evaluation and comparison of the final report of prior periods, so that transparency and accountability of the use and management of BOS funds can be improved.

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