scholarly journals Group-Performance Based Pay of Publicly Traded Companies and Its Association with Value Added Productivity per Employee

2015 ◽  
Vol 20 (7) ◽  
pp. 85-90
Author(s):  
Donghoon Yang
Keyword(s):  
Group Performance ◽  
Value Added ◽  
Publicly Traded ◽  
Publicly Traded Companies ◽  
Performance Based Pay

scholarly journals Assessment of the Performance of Mergers: Revisiting Results after a Prolonged Period

2021 ◽  
Vol 92 ◽  
pp. 07047
Author(s):  
Jan Peta ◽  
Maria Reznakova
Keyword(s):  
Performance Indicators ◽  
Value Added ◽  
Labour Cost ◽  
Growth Strategy ◽  
Financial Indicators ◽  
Publicly Traded ◽  
Private Companies ◽  
Accounting Data ◽  
Publicly Traded Companies ◽  
Near Future

Research background: Mergers and acquisitions (M&As) have become a widespread tool for business growth strategy. Considering the developments after the previous financial crisis, a fresh wave of M&As is expected to appear in the near future. Investors will look for suitable businesses to consolidate their market position. Purpose of the article: The aim of this work is to assess the performance of completed mergers over a period of five years and compare the results with previous research in which we examined the success of mergers over a three-year period. Our goal was to find out if any differences in performance indicators occur and if these differences are significant. The results may offer potential indicators of merger success rate prediction. Methods: We focused our research on mergers of private companies (i.e. not publicly traded companies) in the Czech Republic. Our research sample contained 50 completed mergers. The mergers were divided into two groups – successful and unsuccessful – according to the sales and profit of the merged company. We calculated financial indicators for each group based on accounting data. We then used the Mann-Whitney U test to test the significance of the differences between the indicator values. Findings & value added: Several important performance indicators emerged. The most significant included production consumption to sales, the material cost to sales, receivables to sales, assets turnover and profitability ratios. The ratio labour cost to sales was replaced with the ratio value added to labour cost. Our research concludes that these indicators can be considered crucial.

scholarly journals Non-executive reporting requirements for public companies

2009 ◽  
Vol 5 (2) ◽  
pp. 36-41
Author(s):  
Mark Rome
Keyword(s):  
United States ◽  
Value Added ◽  
The United States ◽  
Publicly Traded ◽  
Public Companies ◽  
Publicly Traded Companies ◽  
Executive Staff ◽  
Reporting Requirements

Non-Executive Reporting Requirements should empower non-executive staff of publicly traded companies with a structured process to communicate value-added information directly with analysts, investors and regulators on a recurring basis without fear of reprisal or reprimand. This paper analyses non-executive reporting requirements for public companies in the United States.

Boards of directors in Russian publicly traded companies: the gender aspect

2018 ◽  
pp. 142-155 ◽  
Author(s):  
T. A. Garanina ◽  
A. A. Muravyev
Keyword(s):  
Boards Of Directors ◽  
Company Performance ◽  
Corporate Boards ◽  
Publicly Traded ◽  
Publicly Traded Companies ◽  
Representation Of Women ◽  
Female Directors ◽  
Female Director ◽  
Gender Aspect ◽  
Longitudinal Dataset

This article studies the gender composition of corporate boards of Russian companies, including its relation to company performance. The analysis is based on a unique longitudinal dataset of virtually all Russian companies whose shares were traded on the stock market in 1998-2014. It shows a relatively small representation of women, just 12% of all the seats, while about 40% of the companies did not have any female director. At the same time, both the share of companies that appoint female directors and the share of female directors on boards show a clear upward trend. The econometric analysis suggests a positive link between the presence of female directors on boards and company performance, especially when firms appoint several, rather than one, female directors.

The Market Value and Reputational Effects from Lost Confidential Information

2015 ◽  
Vol 5 (4) ◽  
Author(s):  
Joseph K. Tanimura ◽  
Eric W. Wehrly
Keyword(s):  
Information Security ◽  
Market Value ◽  
Direct Costs ◽  
Publicly Traded ◽  
Confidential Information ◽  
Publicly Traded Companies ◽  
Security Breaches ◽  
Customer Information ◽  
Employee Information

According to many business publications, firms that experience information security breaches suffer substantial reputational penalties. This paper examines incidents in which confidential information, for a firms customers or employees, is stolen from or lost by publicly traded companies. Firms that experience such breaches suffer statistically significant losses in the market value of their equity. On the whole, the data indicate that these losses are of similar magnitudes to the direct costs. Thus, direct costs, and not reputational penalties, are the primary deterrents to information security breaches. Contrary to many published assertions, on average, firms that lose customer information do not suffer reputational penalties. However, when firms lose employee information, we find significant reputational penalties.

Valuation of Stock Options of Non‐Publicly Traded Companies

2007 ◽  
Vol 22 (1) ◽  
pp. 11-20 ◽  
Author(s):  
William R. Cron ◽  
Randall B. Hayes
Keyword(s):  
Stock Options ◽  
Publicly Traded ◽  
Publicly Traded Companies

Changing the Education Workforce? The Relationships among Teacher Quality, Motivation, and Performance Pay

2017 ◽  
Vol 119 (4) ◽  
pp. 1-32
Author(s):  
Daniel H. Bowen ◽  
Jonathan N. Mills
Keyword(s):  
Teacher Quality ◽  
Financial Incentives ◽  
Risk Preferences ◽  
Value Added ◽  
Performance Pay ◽  
Teaching Profession ◽  
Performance Based Pay ◽  
Teacher Workforce ◽  
And Performance ◽  
K 12

Background/Context With a growing body of evidence to support the assertion that teacher quality is vital to producing better student outcomes, policymakers continue to seek solutions to attract and retain the best educators. Performance-based pay is a reform that has become popular in K–12 education over the last decade. This strategy potentially produces positive impacts on student achievement in two ways: better alignment of financial incentives with desired outcomes and improved the composition of the teacher workforce. While evaluations have primarily focused on the former result, there is little research on whether the longer-term implementation of these polices can attract more effective teachers. Purpose In this study we aim to provide evidence for potential long-term impacts that performance-based pay can have on the composition of the teacher workforce by addressing two questions: Does performance-based pay attract fundamentally different individuals, as measured by their risk preferences, to the teaching profession? Are stated preferences for a particular pay format correlated to measures of teacher quality? Research Design We apply methods from experimental economics and conduct surveys with 120 teachers from two school districts who have experienced performance pay. We compare the risk preferences of teachers hired under the two pay formats to test the hypothesis that performance-based pay attracts individuals with different characteristics to the profession. We also analyze teachers’ survey responses on their preferences for performance-based pay to determine their relationships to two measures of teacher quality: student test-score gains and principal evaluations. Conclusions/Recommendations We find mixed results regarding the ability of performance-based pay to alter the composition of the teacher workforce. Teachers hired with performance-based pay in place are no different from their colleagues. However, teachers claiming to seek employment in districts with performance-based pay in place appear significantly less risk averse. Surprisingly, additional analyses indicate that teachers’ value-added scores and performance evaluations do not predict a positive disposition towards merit pay. Thus, while these results indicate the possibility for performance-based pay to attract different individuals to teaching, they do not provide evidence that such change would necessarily improve the composition of the workforce. Policymakers should take this potential tradeoff into consideration when considering the expansion of performance pay policies.

Financial performance assessment of branded and non-branded hotel companies. Analysis of the Portuguese case

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Catarina Martins ◽  
Clara Bento Vaz ◽  
Jorge Manuel Afonso Alves
Keyword(s):  
Financial Performance ◽  
Group Performance ◽  
Value Added ◽  
Strategic Decision ◽  
Financial Ratios ◽  
Bivariate Analysis ◽  
Continuous Growth ◽  
Content Type ◽  
Dea Model ◽  
Brand Effect

Purpose Portugal has been experiencing a continuous growth in tourism activity, with hospitality industry as one of the main tourism sectors. Therefore, the assessment of hotel companies’ performance is very important to assist decision processes. The purpose of this paper is to assess the financial performance (FP) of 570 hotel companies operating hotel units in Portugal in 2017. To explore the question of brand affiliation, a comparison was made between hotel companies with similar stars rating and market orientation. In addition, this paper intends to fill a gap in literature studying the Portuguese reality on the subject of brand affiliation. Design/methodology/approach The present study uses a methodology based on data envelopment analysis (DEA) to assess the overall performance for each company, which further decomposed into the within-group performance and the technological gap. The performance of the hotel company is assessed through the aggregation of multiple financial indicators using the composite indicator (CI) derived from the DEA model. A bivariate analysis based on the Tobit regression to test the robustness of brand effect on FP of hotel companies (HC) was also included. Findings The empirical results show that branded companies, on average, have significantly better overall FP than non-branded companies. On the one hand, the brand effect tends to improve the within-group FP of HCs and the brand presents a statistically significant positive effect on the FP. On the other hand, the best practices are observed in both branded and non-branded companies. Practical implications The results of this study illustrate that, globally, the better FP of the branded companies is because of their individual relative companies’ performance and a better model of operation given by the brand effect. Brand affiliation will generally allow for a better FP and essentially a better profitability for invested equity, a higher return on sales and a higher value added per employee. Originality/value The study provides important theoretical and practical contributions that can assist the strategic decision of the HCs in choosing to operate independently or to adopt brand affiliation. Also, it is innovative because the FP of branded and non-branded HCs is measured not using a set of individual financial ratios but through a single CI that aggregates those financial ratios, using a DEA model.

scholarly journals Relationship Between Free Cash Flows and Corporate Governance Levels in the Light of Agency Theory

2021 ◽  
Vol 20 ◽  
pp. e3206
Author(s):  
Glaysson Aguilar de Araújo ◽  
Lara Alves Corrêa ◽  
Valéria Gama Fully Bressan ◽  
João Estevão Barbosa Neto ◽  
Bruna Camargos Avelino
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Cash Flows ◽  
Least Square ◽  
Publicly Traded ◽  
Potential Conflict ◽  
Return On Equity ◽  
Publicly Traded Companies ◽  
Corporate Governance Mechanisms ◽  
Free Cash Flows

This research analyzes the relationship between free cash flows (FCFs) and the different levels of Corporate Governance present in the Brazilian stock market. To this end, the sample was composed of 212 Brazilian publicly traded companies listed on Brasil, Bolsa, Balcão [B]³, in the period from 2010 to 2018. The methodology consisted of estimating a regression for panel data, using the random effects model, estimating by generalized least square (GLS) and assuming adjustments for autocorrelation and robust standard errors for heteroscedasticity. The results found, for the sample studied, suggest that Corporate Governance levels are positively related to the FCFs. In synergy, when compared to the Traditional level of [B]³, companies listed on the Novo Mercado and Level 2 levels tend to present higher FCF values. In addition, the larger the size of the companies and the higher their return on equity, the higher their FCFs tend to be, just as companies in stages of maturity tend to present lower FCF values. The relevance of this research is based on analyzing, in a stock market subject to imperfections, factors that may affect decisions about the level of cash maintenance of companies, more specifically by evaluating how Corporate Governance mechanisms relate to the theory of FCFs, in a context of potential conflict of interest.

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