Too much of a good thing: the non-linear effect of vertical pay dispersion on vice presidents’ voluntary turnover rate

Purpose While the effect of vertical pay dispersion on the voluntary turnover rate of vice presidents (VPs) has received attention, the existing research conclusions are still divided. Therefore, this study aims to explore the relationship between vertical pay dispersion and voluntary turnover rate of VPs in a Chinese context using data from listed firms. Design/methodology/approach Integrating tournament theory and social comparison theory, this study examines the non-linear effect of vertical pay dispersion on VPs’ voluntary turnover rates using empirical data from Chinese A-share listed firms from 2007 to 2016. Findings The results reveal a U-shaped relationship between vertical pay dispersion and the voluntary turnover rate of VPs. After further incorporating the moderating effect of the board governance structure, the effect is found to be enhanced in firms with more efficient board governance (i.e. smaller board size, higher board turnover and higher proportion of outside directors). Further analysis indicates that the aforementioned conclusions mainly exist in non-state-owned enterprises rather than state-owned enterprises. Originality/value The findings deepen the understanding of the costs and benefits associated with vertical pay dispersion, enrich the research findings on pay dispersion and contribute to the integration of previously inconsistent findings.

Study on the Non-linear Effect of Tourism Industry Agglomeration on Economic Growth in China——Based on Inter-provincial Panel Data

Objectives: There are few studies on the non-linear effect of tourism industry agglomeration on economic growth. Based on this, this paper uses the panel data of provinces in 2007-2017 to analyze the spatial characteristics of China's tourism industry agglomeration, and uses the threshold regression model to analyze the role of China's tourism industry agglomeration in promoting economic growth. The results show that: China's tourism industry shows obvious characteristics of spatial agglomeration. The provinces with high degree of industrial agglomeration are mainly Beijing, Shanghai, Yunnan, Guangdong, Guizhou, Sichuan and Shanxi; The non-linear effect of China's tourism industry agglomeration on economic growth is significant. When the level of economic development is less than the threshold value of 10.552, tourism industry agglomeration promotes economic growth. When the level of economic development is greater than the threshold value of 10.552, the impact of tourism industry agglomeration on economic growth is negative. Williamson hypothesis of China's tourism industry agglomeration is established.

Archimedean screw in driven chiral magnets

In chiral magnets a magnetic helix forms where the magnetization winds around a propagation vector {q}q. We show theoretically that a magnetic field B_\bot(t) \bot qB⊥(t)⊥q, which is spatially homogeneous but oscillating in time, induces a net rotation of the texture around {q}q. This rotation is reminiscent of the motion of an Archimedean screw and is equivalent to a translation with velocity v_{\text{screw}}vscrew parallel to q. Due to the coupling to a Goldstone mode, this non-linear effect arises for arbitrarily weak B_\bot(t)B⊥(t) with v_{\text{screw}} \propto |{ B_\perp}|^2vscrew∝|B⊥|2 as long as pinning by disorder is absent. The effect is resonantly enhanced when internal modes of the helix are excited and the sign of v_{\text{screw}}vscrew can be controlled either by changing the frequency or the polarization of B_\bot(t)B⊥(t). The Archimedean screw can be used to transport spin and charge and thus the screwing motion is predicted to induce a voltage parallel to q. Using a combination of numerics and Floquet spin wave theory, we show that the helix becomes unstable upon increasing B_\botB⊥, forming a `time quasicrystal’ which oscillates in space and time for moderately strong drive.