The Participation Constraint and CEO Equity Grants

2020 ◽  
pp. 0000-0000
Author(s):  
Brian D Cadman ◽  
Mary Ellen Carter ◽  
Xiaoxia Peng
Keyword(s):  
Risk Factor ◽  
Labor Market ◽  
Theoretical Prediction ◽  
Ceo Turnover ◽  
Total Compensation ◽  
Participation Constraint

We examine whether firms benchmark annual equity grants to compensation peers and whether meeting the participation constraint is a motive. Studying CEO equity grants over the period of 2006-2016 and compensation peers disclosed by the firm, we find that equity grants by these peers significantly determine a firm's equity grants. We find no evidence that the relation between a firm's and its peers' CEO equity grants is an indirect outcome of meeting peer total compensation levels. In contrast, we show that firms are more likely to meet peer equity grant levels when the labor market is more competitive and when losing key personnel is a risk factor. We also find that CEO turnover is more likely when the CEO receives lower equity grants than peers. Collectively, these findings are consistent with the theoretical prediction that benchmarking equity grants helps firms satisfy the participation constraint, which varies with performance.

scholarly journals Conductas Delictivas Y Antisociales En Adolescentes Que Estudian Y No Estudian

2017 ◽  
Vol 13 (14) ◽  
pp. 31
Author(s):  
Angélica Romero Palencia ◽  
Araceli Sánchez Solís ◽  
Arturo del Castillo Arreola
Keyword(s):  
Risk Factor ◽  
Labor Market ◽  
Educational System ◽  
Criminal Behavior ◽  
Cultural Context ◽  
Public High Schools ◽  
Antisocial Behaviors ◽  
Men And Women ◽  
Male Adolescents ◽  
Adult World

Adolescence is a stage of transition from childhood to the adult world, which is affected among other things by the tension between the incorporation into the labor market and permanence in the educational system (D'alessandre, 2010). However, there is little information related to adolescents who do not study or work. Because of the information that antisocial and criminal behavior tends to accentuate at this stage of life (Gaeta & Galvanoski, 2011), this study identifies differences in the presence of antisocial and criminal behavior among students in two public high schools at Pachuca Hidalgo, Mexico, and adolescents who do not study or work in the same city using the AD measure (Seisdedos & Sánchez, 2001). The sample consisted of 120 teenagers between 14 and 18 years of age, with a total of 81 students and 39 adolescents who do not study or work. Through an analysis of variance ANOVA of sex by occupation were found significant differences in the presence of antisocial behaviors between adolescents who study and those who do not. A difference was observed in the presence of criminal behavior also, specifically in the group of male adolescents who did not study. It was observed that those adolescent men and women who are studying, are less likely to commit criminal acts, compared to those adolescent especially men who are not within a school or work system. The role played by the socio-cultural context as a risk factor or protection for the appearance of criminal and antisocial behavior is highlighted.

How Does Forced-CEO-Turnover Experience Affect Directors?

2020 ◽  
pp. 1-29 ◽  
Author(s):  
Jesse Ellis ◽  
Lixiong Guo ◽  
Shawn Mobbs
Keyword(s):  
Labor Market ◽  
Chief Executive Officer ◽  
Labor Market Outcomes ◽  
Chief Executive ◽  
Ceo Turnover ◽  
Independent Directors ◽  
Board Meeting ◽  
Market Outcomes ◽  
The Cost ◽  
Underperforming Firms

Abstract We study changes in independent director behavior and labor-market outcomes after the experience of a forced Chief Executive Officer (CEO) turnover. We find that independent directors are more willing to fire CEOs of underperforming firms, hire outside CEOs after a firing, and encourage better board-meeting attendance by fellow directors. We also find that the shareholders of poorly performing firms react positively when experienced directors join the board. It does come with a small cost for directors, in terms of additional directorships, although the cost is not as great as that for directors who do not fire the CEO of a poorly performing firm.

scholarly journals Do young children prohibit mothers from working? A study in the Amhara Region, Ethiopia

2017 ◽  
Vol 3 (2) ◽  
pp. 29 ◽  
Author(s):  
Chalachew Getahun Desta
Keyword(s):  
Labor Market ◽  
Young Children ◽  
Theoretical Prediction ◽  
Empirical Studies ◽  
Economic Effect ◽  
Household Survey ◽  
Theoretical Work ◽  
Labor Market Participation ◽  
Market Participation ◽  
Positive Effects

Theoretical work relating economic effect of children suggests that labor market participation decreases for mothers with large number of young children and increases when children are adults. The majority of empirical studies find results consistent with this expectation, but there are some studies which fail to confirm this theoretical prediction for the developing countries. This paper used data from a household survey of rural and urban married women to test the theoretical prediction that labor market participation decreases for mothers with large number of young children and increases when children are adults. Results show that when all households are considered, children seem to have positive effects on the probability of the mother’s work participation. However, when household lifecycle and rural-urban location differences are considered, coefficients are negative (but not statistically insignificant) for urban households with large number of young children and positive (and statistically significant) for those households with more adult children; whereas for rural households, these coefficient signs are reversed. Results from the quantitative data combined with qualitative narratives suggest that large numbers of young children do not prohibit rural mothers from working.

scholarly journals Is Coronavirus a new business reality facilitator?

2021 ◽  
Vol 125 ◽  
pp. 04002
Author(s):  
Yulia Vitalievna Kim
Keyword(s):  
Risk Factor ◽  
Labor Market ◽  
21St Century ◽  
Global Economy ◽  
Goods And Services ◽  
Business Operations ◽  
Research Designs ◽  
New Business ◽  
Start Ups ◽  
Market Strategies

This article considers the spread of the SARS-CoV-2 virus, known as the COVID-19 pandemic, to have far-reaching consequences in terms of employment, production of goods and services worldwide. The article aims to research the dynamics of changes in attitudes towards the disease resulting in reshaping labor market strategies worldwide which include forming stay-at-home economy, digitization of business operations and emerging start-ups to facilitate delivering and consuming goods and services. A few research designs are used in this article with quantitative and case studies being major methods. The main results of this research allow one to associate coronavirus disease with a new business reality facilitator in the global economy rather than a mere risk factor. The topicality and urgency of this article are based on the novelty of the pandemic itself having started less than 2 years ago. This research may be helpful for upcoming fundamental studies in the field of 21st-century global emergencies.

scholarly journals Motivation, Human Capital Investment and Compensation in an Agency Problem

2019 ◽  
Vol 10 (4) ◽  
pp. 37
Author(s):  
Anthony M Marino
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Capital Investment ◽  
Agency Problem ◽  
Human Capital Investment ◽  
Optimal Investment ◽  
Firm Productivity ◽  
Participation Constraint ◽  
Hidden Action

This paper considers a firm's optimal investment in training and motivation measures in a hidden action agency problem. We study how these strategies interact with each other and the contract in order to create value for the firm. Productivity enhancing training can be firm specific or non-firm specific and firm specific motivation can enhance utility or reduce effort cost. Whether these measures are complements or independents depends on the firm specificity of human capital and whether the participation constraint is binding. We characterize how a tighter labor market affects marginal profitabilities and examine the relative benefits of motivation measures which enhance utility versus those which decrease effort cost.

scholarly journals The Effectiveness Of Internal And External Mechanisms Of Corporate Control

2011 ◽  
Vol 1 (7) ◽  
Author(s):  
Joanne P. Healy
Keyword(s):  
Logistic Regression ◽  
Labor Market ◽  
Recent Trend ◽  
Corporate Control ◽  
Ceo Turnover ◽  
Complete Analysis ◽  
Control Mechanisms ◽  
Regression Analyses ◽  
Corporate Takeovers

This research reflects a recent trend toward the development of an overall understanding of corporate control. Previous research has examined CEO turnover and corporate takeovers separately. This research provides a more complete analysis of the corporate control of the firm conditioned on previous events over the period 1978 - 1988. Logistic regression analyses indicate that the probability of a takeover offer is highest for firms performing poorly which have not previously replaced their CEO. Debt, the percentages of stock held by the ceo or outside investor, and the existence of an antitakeover mechanism also affect the probability of a firm receiving a takeover offer. Results support the theory that external corporate control mechanisms do function when internal mechanisms have failed to function. Additionally, results suggest the external labor market is working to attract the CEO of a firm performing well.

Clinical aspects of reactive oxygen and nitrogen species

2004 ◽  
Vol 71 ◽  
pp. 121-133 ◽  
Author(s):  
Ascan Warnholtz ◽  
Maria Wendt ◽  
Michael August ◽  
Thomas Münzel
Keyword(s):  
Oxidative Stress ◽  
Reactive Oxygen Species ◽  
Risk Factor ◽  
Endothelial Dysfunction ◽  
Vascular Tissue ◽  
Rapid Development ◽  
Reactive Oxygen ◽  
Clinical Aspects ◽  
No Production ◽  
Oxygen Species

Endothelial dysfunction in the setting of cardiovascular risk factors, such as hypercholesterolaemia, hypertension, diabetes mellitus and chronic smoking, as well as in the setting of heart failure, has been shown to be at least partly dependent on the production of reactive oxygen species in endothelial and/or smooth muscle cells and the adventitia, and the subsequent decrease in vascular bioavailability of NO. Superoxide-producing enzymes involved in increased oxidative stress within vascular tissue include NAD(P)H-oxidase, xanthine oxidase and endothelial nitric oxide synthase in an uncoupled state. Recent studies indicate that endothelial dysfunction of peripheral and coronary resistance and conductance vessels represents a strong and independent risk factor for future cardiovascular events. Ways to reduce endothelial dysfunction include risk-factor modification and treatment with substances that have been shown to reduce oxidative stress and, simultaneously, to stimulate endothelial NO production, such as inhibitors of angiotensin-converting enzyme or the statins. In contrast, in conditions where increased production of reactive oxygen species, such as superoxide, in vascular tissue is established, treatment with NO, e.g. via administration of nitroglycerin, results in a rapid development of endothelial dysfunction, which may worsen the prognosis in patients with established coronary artery disease.

Sign in / Sign up

Export Citation Format

Share Document