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Article
Publication date: 1 May 1997

Krishna R. Kumar

Factors associated with the use of long‐term plans in management compensation contracts and the choice between earnings‐based performance plans and market‐based long‐term…

Abstract

Factors associated with the use of long‐term plans in management compensation contracts and the choice between earnings‐based performance plans and market‐based long‐term plans are examined. Results indicate the firms using long‐term plans are large, have diffuse ownership and more long‐term growth. Furthermore, performance plans are more likely to be used when stock‐return variability is high relative to earnings variability. Firms using performance plans are also larger and have more diffuse ownership than firms with market‐based plans alone. Overall, the evidence is consistent with long‐term plans serving as incentive alignment mechanisms.

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Managerial Finance, vol. 23 no. 5
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 May 1997

Jennifer J. Gaver and Kenneth M. Gaver

Empirical evidence on the shareholder wealth effects of changes in executive compensation agreements is provided by a body of research which examines common stock returns…

Abstract

Empirical evidence on the shareholder wealth effects of changes in executive compensation agreements is provided by a body of research which examines common stock returns around the time that pay packages are modified. Most studies report significantly positive excess stock returns contemporaneous with the compensation event. Despite this, numerous methodological issues prevent researchers from ascribing a causal relation between the compensation change and the observed stock price behavior. This paper critically reviews the accumulated evidence from studies in this literature and suggests directions for future research.

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Managerial Finance, vol. 23 no. 5
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 June 1995

Richard Smith and John Storr

Following the provisions of the Planning and Compensations Act,1991 we have a planning system under which, in principle, nocompensation is paid for the refusal of planning

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894

Abstract

Following the provisions of the Planning and Compensations Act, 1991 we have a planning system under which, in principle, no compensation is paid for the refusal of planning permission. One way remains by which compensation can still be obtained – it is by way of a purchase notice under section 137 of the Town and Country Planning Act or section 32 of the Listed Building Act, 1990. Examines the legal rules governing purchase notices and then goes on to analyse the valuation and compensation implications.

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Property Management, vol. 13 no. 2
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 1 January 1993

Janet R. McColl‐Kennedy, Geoffrey C. Kiel and Susan J. Dann

Reports a study of the salesforce compensation practices inmanufacturing companies which is the first of its kind undertaken inAustralia. Australian companies rely heavily…

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1556

Abstract

Reports a study of the salesforce compensation practices in manufacturing companies which is the first of its kind undertaken in Australia. Australian companies rely heavily on salary as the main form of salesforce compensation, unlike in the USA where the majority of salespeople are rewarded using commission‐based means. To a lesser extent, this is also true for Britain. The companies in this study, like many European firms, make relatively little use of performance‐related compensation methods such as commission. These findings are surprising, given that most companies reported that the main objective of their compensation plans was to reward above average performance. Such discrepancies between objectives and methods appear to be widespread and can, in part, be related to the social and legal environment in which Australian companies operate.

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Marketing Intelligence & Planning, vol. 11 no. 1
Type: Research Article
ISSN: 0263-4503

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Article
Publication date: 1 August 2001

Gary Sams

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363

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Journal of Property Investment & Finance, vol. 19 no. 4
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 2 November 2015

Chunwei Xian, Fang Sun and Yinghong Zhang

This study aims to investigate the moderating effect of equity-based compensation on the sources of book-tax differences. The authors investigate whether equity-based…

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1749

Abstract

Purpose

This study aims to investigate the moderating effect of equity-based compensation on the sources of book-tax differences. The authors investigate whether equity-based compensation affects the association between book-tax differences and tax planning, and the association between book-tax differences and earnings management.

Design/methodology/approach

The authors use a sample of 9,024 firm-year observations (913 firms) spanning the period 1992-2011, obtained from ExecuComp and Compustat. They estimate cross-sectional regressions of the proxy for tax planning, discretionary accruals and their interactions with equity-based compensation on book-tax differences.

Findings

The authors find that tax planning-related book-tax differences increase as the equity-based pay of executives does, and that earnings management-related book-tax differences decrease as the equity-based pay of executives increases. The results are robust across three alternative measures of tax planning.

Originality/value

Equity-based compensation plays an important role in managerial discretion on tax planning and earnings management. The findings suggest that, although equity incentives promote a high level of both tax planning and earnings management, they motivate managers to constrain the level of earnings management to avoid larger book-tax differences.

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Accounting Research Journal, vol. 28 no. 3
Type: Research Article
ISSN: 1030-9616

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The Theory and Practice of Directors’ Remuneration
Type: Book
ISBN: 978-1-78560-683-0

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Article
Publication date: 1 April 1986

Mark R. Hurwich

Some companies are now seeking to design compensation plans that not only reward performance but also improve it. They want techniques that look forward, beyond their…

Abstract

Some companies are now seeking to design compensation plans that not only reward performance but also improve it. They want techniques that look forward, beyond their current situation and even beyond pay systems themselves. This approach is called strategic compensation design. It involves focusing on what an organization needs to do to become more competitive and then on developing a compensation plan to help.

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Journal of Business Strategy, vol. 7 no. 2
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 30 September 2008

Sharad Asthana

The purpose of this paper is to examine the determinants of US firms' postretirement benefits choices.

Abstract

Purpose

The purpose of this paper is to examine the determinants of US firms' postretirement benefits choices.

Design/methodology/approach

The paper uses empirical methodology (univariate and multivariate) to test the research hypotheses.

Findings

Industry norm, average employee age, financial structure, and firm size are significant factors in the determination of the proportion of compensation that is deferred. Industry norm, financial structure, and firm size are significant factors that determine the percentage of deferred compensation that is negotiated as defined benefits. Finally, industry norm, corporate tax rates, and cash flow help explain the percentage of defined benefits that are paid in the form of retiree health benefit plans.

Research limitations/implications

Data requirements might bias the sample towards larger sized firms. Data availability limits the number of observations in 2000 and 2001.

Practical implications

The trends in post‐retirement benefits reported in this paper are important for policy makers.

Originality/value

These findings have implications for the baby boomers. The trend to offer smaller proportion of compensation as deferred benefits reflects the increasing costs of deferral to the employers. This increases the employees' responsibilities to save on their own. This also would shift the retirees' dependence on the public pension system for their retirement income. The trend to favor defined‐contribution plans instead of defined‐benefit plans reflects the employers' attempts to diversify their risks of paying promised post‐retirement benefits by transferring the risk to the employee. On the other hand, the popularity of defined‐contribution pension plans also reflects the increased Government's incentives to encourage savings via 401‐k plans and employee's willingness to manage their own pension portfolios.

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Accounting Research Journal, vol. 21 no. 2
Type: Research Article
ISSN: 1030-9616

Keywords

Content available
Book part
Publication date: 26 November 2016

Abstract

Details

The Theory and Practice of Directors’ Remuneration
Type: Book
ISBN: 978-1-78560-683-0

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