Institutional change of compensation policy and its impact on CEO turnover and firm performance

The existing corporate governance literature has mostly focused on micro-level studies of executive compensation, with limited attention paid to influential macro-level factors such as institutions and institutional changes and their impacts on corporate governance and performance. The implementation of the new compensation policy that restricts CEO compensation ceiling in state-owned firms in China offers an ideal context for us to study how institutional changes and firms’ adoption of these changes can influence CEO turnover and firm performance. Our empirical analyses reveal that the positive impact of new compensation policy adoption on CEO turnover is stronger for CEOs with originally higher compensation. The impact of new compensation policy adoption on firm performance, however, is negative, and the negative impact is contingent upon a firm’s market share and tech intensity. Our research contributes to the literature on corporate governance by theorizing and empirically demonstrating the critical role that institutions play in corporate governance.

Public Reaction to Disaster Reconstruction Policy: Case Studies of the Fukushima and Chernobyl Nuclear Accidents

This study analyzes survey responses of those affected by the Chernobyl and Fukushima nuclear power plant accidents, evaluating issues such as recovery, compensation policy, decontamination, welfare, and overall government response. We apply an ordinal logit model to the issues of compensation, decontamination, and repatriation. We found that the people of Bryansk Oblast and those with ongoing health problems were more likely to support continued compensation and victim support programs. Another key finding was the perceived inadequacy of the Japanese government’s reconstruction policy for Fukushima. Monitoring and forestry safety measures were considered insufficient, and agricultural safety measures were particularly disappointing for those with children. More generally, there was support for planting rapeseed as a biofuel and for opening up the site as a tourist spot. Mega-solar farms or nature reserves were also seen as feasible alternatives to agricultural activities. Those who continued to see nuclear energy as a viable energy source supported the construction of waste treatment and storage facilities. Among the Chernobyl respondents, some supported a return to agricultural land use, citing scientific reports suggesting it was safe. Many said that there should be further investment in scientific research in the area. Fukushima respondents viewed social welfare provision and improved information for victims and residents as important issues. A key lesson for the Japanese government from the Chernobyl experience is the legal regime that was established there, clearly defining the affected areas and people and clarifying the measures required.

Grassland ecological compensation policy in China improves grassland quality and increases herders’ income

Many countries have undertaken large and high-profile payment-for-ecosystem-services (PES) programs to sustain the use of their natural resources. Nevertheless, few studies have comprehensively examined the impacts of existing PES programs. Grassland Ecological Compensation Policy (GECP) is one of the few pastorally focused PES programs with large investments and long duration, which aim to improve grassland quality and increase herder income. Here we present empirical evidence of the effects of GECP on grassland quality and herder income. Through a thorough and in-depth econometric analysis of remote sensing and household survey data, we find that, although GECP improves grassland quality (albeit to only a small extent) and has a large positive effect on income, it exacerbates existing income inequality among herders within their local communities. The analysis demonstrates that the program has induced herders to change their livestock production behavior. Heterogeneity analysis emphasizes the importance of making sure the programs are flexible and are adapted to local resource circumstances.

Evaluation of the Implementation Effect of the Ecological Compensation Policy in the Poyang Lake River Basin Based on Difference-in-Difference Method

Watershed environments play an important supporting role in sustainable high-quality economic development in China, but they have been deteriorating. In order to solve environmental problems in the Poyang Lake River Basin brought about by economic development, the Jiangxi Provincial Government promulgated relevant river basin protection policies in 2015. However, after several years of this policy, the specific effects of its implementation are a matter of general concern to the government and academic circles. After years of policy implementation, the implementation effect of the watershed ecological compensation policy needs to be evaluated. Based on 4248 observations from the Jiangxi and Hunan Provinces, we adopt the difference-in-difference method to analyze the impact of the ecological compensation policy on the Poyang Lake River Basin. The empirical results show that the ecological compensation policy has a significant effect on water-quality improvement. Water quality in the upstream area is better than that in the downstream area; areas with small administrative areas have a smaller population, which in turn leads to better water quality in the river basin; and the higher the per capita GDP, the worse the water quality. Our results highlight the need for the following policy improvements: ecological priority, customizing measures to local conditions, tracing the main body, and strengthening supervision.

How Capital Endowment and Ecological Cognition Affect Environment-Friendly Technology Adoption: A Case of Apple Farmers of Shandong Province, China

Ever-increasing global environmental issues, land degradation, and groundwater contamination may significantly impact the agricultural sector of any country. The situation worsens while the global agricultural sectors are going through the unsustainable intensification of agricultural production powered by chemical fertilizers and pesticides. This trend leads the sector to exercise environmentally friendly technology (EFT). Capital endowment and ecological cognition may significantly impact fostering farmers’ adoption of environmentally friendly technology. The government also tends to change the existing policies to cope with ever-increasing challenges like pollution control, maintaining ecological balance, and supporting agricultural sectors substantially by employing ecological compensation policy. The study’s main objective is to explore the impacts of farmer’s ecological compensation, capital endowment, and ecological cognition for the adoption of EFT. The empirical setup of the study quantifies with survey data of 471 apple farmers from nine counties of Shandong province. The study used Heckman’s two-stage model to craft the findings. The results showed that 52.02% of fruit farmers adopted two environmentally friendly technologies, and 23.99% of fruit farmers adopted three forms of environmentally friendly technologies. At the same time, we have traced that the capital endowment, planting scale, family income, and technical specialization of fruit farmers significantly impact adopting EFT. The study also revealed that understanding ecological compensation policy has a significant positive effect on adopting environmentally friendly technology. Seemingly, ecological compensation policy has a specific regulatory effect on fruit farmers’ capital endowment and ecological cognition. Therefore, it is necessary to extend the demonstration facilities, training, and frequently arrange awareness-building campaigns regarding rural non-point source pollution hazards and improve the cognition level of farmers. The agriculture extension department should strengthen the agricultural value chain facilities to make farmers fully realize the importance of EFT. Government should promote and extend the supports for availing new and innovative EFT at a reasonable price. Moreover, cooperative, financial, and credit organizations need to lead for the smooth transition of EFT. The agricultural cooperatives and formal risk-taking networks should act responsibly for shaping the behavioral factors of farmers.

Effectiveness of Human Resource Practices among Printing Press Organizations in Sivakasi

The research was entitled as “Effectiveness of Human Resource Practices among Printing Press Organizations in Sivakasi”, reveals the importance of existing human resource practices followed in the organizations. The study analyses the various areas of human resource management in the organization such as recruitment and selection, training and development, performance appraisal, compensation policy and remuneration, motivation and welfare measures, and Industrial relations. The study examines the application of Human resource practices within the areas of the organization. The study confronts the functions and role of HR executives in focus with recruitment and selection of manpower and also training & development for the workforce. The research methodology was carried out in a survey cross-sectional applied to 350 respondents. Result of research showed that negative correlation between the performance appraisal and compensation. The findings revealed that the Human resource practices are the most important indicators in determining the growth of Printing Press organizations in Sivakasi.