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Article
Publication date: 1 December 1996

Edmund Heery

Considers the ethics of the “new pay”, a prescriptive model of pay management which has exercised increasing influence over reward practice in recent years. Makes two…

Abstract

Considers the ethics of the “new pay”, a prescriptive model of pay management which has exercised increasing influence over reward practice in recent years. Makes two primary criticisms of the new pay ‐ that it seeks to impose excessive risk on employees and that it affords little scope for involvement of employee representatives in the selection, design and operation of reward systems.

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Personnel Review, vol. 25 no. 6
Type: Research Article
ISSN: 0048-3486

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Article
Publication date: 3 August 2015

Gabriel Pruneda

The purpose of this paper is to provide an overall picture of the level of implementation of high-performance work practices (HPWP) in Spain, as well as to identify…

Abstract

Purpose

The purpose of this paper is to provide an overall picture of the level of implementation of high-performance work practices (HPWP) in Spain, as well as to identify changes after three years of severe economic and financial crisis. The practices analysed include selective hiring, extensive training, information sharing, contingent remuneration and job security.

Design/methodology/approach

By means of logistic regressions, the author estimates the determinants of these practices, during a crisis and pre-crisis period. As a source of information, the author uses a representative sample of the whole Spanish private sector of 9,086 wage workers, drawn from the 2006 and 2010 waves of the Quality of Life at Work Survey.

Findings

Job security and skills utilisation are widely spread in Spain, whilst contingent remuneration and extensive training show low levels of usage. Highly skilled individuals holding high-quality jobs display a greater probability of being affected by HPWP. Similar patterns emerge for employees in large companies and for those in the health and education industries.

Research limitations/implications

Design limitations are caused by data that are cross-sectional, not longitudinal.

Practical implications

The author is able to reach conclusions that can be generalised for the entire Spanish private sector. Thus, they might be used to propose policy recommendations.

Originality/value

This is the first in-depth analysis of HPWP in the Spanish private sector. The results encourage the discussion about the suitability of these practices.

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Evidence-based HRM: a Global Forum for Empirical Scholarship, vol. 3 no. 2
Type: Research Article
ISSN: 2049-3983

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Article
Publication date: 1 June 2001

Fathi Elloumi and Jean‐Pierre Gueyié

The empirical relationship between chief executive officer (CEO) compensation, the investment opportunity set (IOS) and corporate governance mechanisms is analyzed for a…

Abstract

The empirical relationship between chief executive officer (CEO) compensation, the investment opportunity set (IOS) and corporate governance mechanisms is analyzed for a sample of 415 Canadian firms in 1997. Results indicate that firms with high IOS pay higher levels of total compensation to their CEOs. In addition, CEOs of high IOS derive a larger proportion of their compensation from performance‐contingent forms of pay such as bonuses, stock option grants and long‐term incentive plans. However, CEOs with weak boards of directors are compensated more than CEOs with powerful boards. Contrary to our expectation, we find that in high IOS firms with weak boards of directors, CEOs seek to have higher proportions of contingent forms of pay in their compensation. An implication of this result is that contingent compensation practices may be a more value‐enhancing form of remuneration for CEOs.

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Corporate Governance: The international journal of business in society, vol. 1 no. 2
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 15 November 2011

Tomas Bonavia and Juan A. Marin‐Garcia

The first goal of this research is to analyse the effects of lean production (LP) on the policy of human resource management (HRM). The second is to determine whether or…

Abstract

Purpose

The first goal of this research is to analyse the effects of lean production (LP) on the policy of human resource management (HRM). The second is to determine whether or not implementation of HRM practices associated with LP explains the differences in organizational performance between manufacturing plants.

Design/methodology/approach

The paper developed a questionnaire for data collection. Findings are presented from 76 establishments (79.17 per cent of the total sample) that specialise in single‐firing ceramic tiles in Spain.

Findings

Companies that make the most of LP practices are also those that take care to train workers in using these practices as well as improving their employment security. However, the same is not true for the pay for performance system. The combination of LP with HRM practices reduces inventory and boosts productivity but does not appear to affect the other performance variables analysed.

Research limitations/implications

For certain variables very little variation was found between the plants in the samples. The data are cross‐sectional, so causality cannot be definitively determined.

Practical implications

This paper indicates the HRM practices associated with the LP and the results obtained. It can thus be used to help human resource and production departments in improving organizational performance.

Originality/value

The paper extends the work of other researchers by focusing on a sector and a country that have been very little studied to date. The sample consists of a set of plants that are fairly homogeneous, which facilitates the analysis of the relationships between the selected variables, while keeping other variables controlled.

Details

International Journal of Manpower, vol. 32 no. 8
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 13 June 2016

James M. Wilson

The purpose of this paper is to describe and analyse a historic performance-based pay system used in 1803-1810 to reward Marc Isambard Brunel for his innovative…

Abstract

Purpose

The purpose of this paper is to describe and analyse a historic performance-based pay system used in 1803-1810 to reward Marc Isambard Brunel for his innovative engineering designs used in the Portsmouth Block Mills. This was used to ensure that Brunel would continue his work on the project once the design was complete to resolve any problems and make any desirable improvements to the machines and the system as a whole.

Design/methodology/approach

This research analyses archived correspondence between the project’s initiators: the Navy Board and Samuel Bentham along with the Admiralty as well as Marc Brunel. Basic financial analyses are applied to the historic cost and investment data.

Findings

The scheme was well designed and successfully kept Brunel involved in the implementation and operational phases of the project. However, there were numerous problems that delayed the project’s completion, thereby creating additional work for Brunel and also delaying and reducing his payments. Brunel was alienated by these developments.

Research limitations/implications

This research has exploited the archived data as fully as possible, and although there are no known deficiencies in the records, it would be desirable to have more complete and detailed information on the investment in, and operations of, the factory.

Practical implications

Reward systems should be designed and implemented so that events outside management’s and worker’s control should not disadvantage either group.

Originality/value

Detailed information about the operations and financial performance of an early factory are analysed in depth. These reveal how management and an innovative engineer interacted regularly over several years with numerous insights on their day-to-day relations.

Details

Journal of Management History, vol. 22 no. 3
Type: Research Article
ISSN: 1751-1348

Keywords

Content available

Abstract

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Development and Learning in Organizations: An International Journal, vol. 21 no. 2
Type: Research Article
ISSN: 1477-7282

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Book part
Publication date: 4 April 2005

Richard Saito, Hsia Hua Sheng, Senichiro Koshio and Marcos Galileu de Lorena Dutra

Corporate bonds have been a major source of medium and long-term financing in Brazil. We analyze how corporate bond covenants have been used to mitigate agency costs…

Abstract

Corporate bonds have been a major source of medium and long-term financing in Brazil. We analyze how corporate bond covenants have been used to mitigate agency costs between shareholders and bondholders. Our data includes 119 corporate bond indentures issued in Brazil from 1998 to 2001. This paper analyzes whether public investors have demanded stricter terms in corporate bond indentures. When comparing to previous studies of Anderson (1999) and of Filgueira and Leal (2001), we found empirical evidence that: (a) more bond issues with no indexed inflation features, but more floating rate interest features to match market needs; (b) no major changes for contingent maturity features; (c) loose covenants with respect to dividend and financing actions; and (d) tighter covenants regarding change in control and/or ownership and negative pledge. There is empirical evidence that the role of sponsor may partially mitigate risks borne by bondholders.

Details

Latin American Financial Markets: Developments in Financial Innovations
Type: Book
ISBN: 978-1-84950-315-0

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Article
Publication date: 8 May 2009

John Gilbert and Peter Boxall

The purpose of this paper is to discuss the findings of a study of the management of senior managers. The aim is to describe the ways in which firms in a small economy…

Abstract

Purpose

The purpose of this paper is to discuss the findings of a study of the management of senior managers. The aim is to describe the ways in which firms in a small economy, such as New Zealand, manage their managers and analyse how they deal with the strategic challenges that are involved.

Design/methodology/approach

The study applies the Boxall and Gilbert typology of company styles in the management of senior managers. A case‐study approach is used with data collected through interviews with directors, chief executive officers and senior managers in firms chosen as characteristic of New Zealand conditions.

Findings

The case studies confirm the main expectations of the model: difficulties with the recruitment and retention of talented managers are severe in New Zealand, overshadowing all other problems, such as “agency” risks. The findings underscore the need for boards of directors to take a more proactive and comprehensive approach to the management of managers.

Research limitations/implications

Limitations of a qualitative, case‐based approach are acknowledged. However, the intent is to discern and analyse patterns and problems in a particular societal context. There is ample scope for similar studies in other contexts.

Practical implications

The study underlines the challenges firms in small economies can face in securing, developing and retaining a credible senior management team and suggests ways in which firms may approach these problems more effectively.

Originality/value

The paper presents an original study of how firms manage senior managers and uses a novel framework in drawing together themes from organisational economics, human resource development and strategic human resource management to provide an integrated analysis of how managers are managed.

Details

Journal of European Industrial Training, vol. 33 no. 4
Type: Research Article
ISSN: 0309-0590

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Article
Publication date: 29 May 2007

Ahsan Habib and Ainul Islam

This paper aims to provide preliminary evidence on the determinants of non‐audit service provision and whether the provision of such services impairs auditors'…

Abstract

Purpose

This paper aims to provide preliminary evidence on the determinants of non‐audit service provision and whether the provision of such services impairs auditors' independence in the context of Bangladesh.

Design/methodology/approach

Both univariate and multivariate regression methodologies are used to test the hypotheses. Signaling theory is used to test whether auditors from a non‐litigious environment are concerned about signaling their quality to the market by constraining clients' earnings management behavior.

Findings

Results show that larger firms, firms with more liquidity, firms having an audit firm with an international link as their auditor and multinational subsidiaries purchase more non‐audit services, while highly‐leveraged firms purchase less. With respect to non‐audit fees (NAF) causing auditors to sacrifice their independence, this study fails to find any relationship between NAF and discretionary accruals (DACCR) after controlling for factors that are expected to drive DACCR behavior.

Research limitations/implications

Use of DACCR as an earnings management device has been criticized on the ground that managers could use DACCR to signal their own private information. Hence, future research should look at alternative proxies of earnings management to investigate the relationship between non‐audit services and earnings management.

Practical implications

The findings of this paper will be of use to financial reporting regulatory authorities in Bangladesh, such as the Securities and Exchange Commission of Bangladesh as well as the Institute of Chartered Accountants of Bangladesh, regarding the corporate governance role played by the auditors.

Originality/value

Use of DACCR to detect earnings management behavior in the context of Bangladesh is a novel idea. The findings that the purchase of non‐audit services does not lead to increased earnings management behavior in a developing country context further strengthens the notion that there is a spill‐over effect of providing non‐audit services.

Details

Managerial Auditing Journal, vol. 22 no. 5
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 2 August 2013

Stephen Rosenbaum

This article aims to explore how knowledge-intensive service firms design inter-firm contracts to govern the exchange of highly intangible and inseparable knowledge under…

Abstract

Purpose

This article aims to explore how knowledge-intensive service firms design inter-firm contracts to govern the exchange of highly intangible and inseparable knowledge under varying degrees of property right protection.

Design/methodology/approach

This research uses a multiple case study of management consulting firms domiciled in Serbia and Albania.

Findings

Firms domiciled in relatively weak property right settings prefer more informal contracts, whereas those in settings of superior property right protection favour greater formality as a means of encouraging the creation and sharing of knowledge, whilst concurrently mitigating the threat of opportunism.

Research limitations/implications

This article contributes new knowledge with regard to the design of inter-firm contracts to govern the sharing of highly intangible and inseparable knowledge. In terms of theory, it employs a transaction cost economics approach in which inter-firm contracts are decomposed into five requisite provisions, which are then related to the degree of formality.

Practical implications

Knowledge-intensive service firm managers should assess the degree of property right protection when considering the degree of formality of inter-firm contracts.

Originality/value

The study constitutes the first attempt to empirically examine how knowledge-intensive service firms craft contracts in different property right settings. With the burgeoning number of cross-border collaborative partnerships between such firms, it offers important insights into the choice of governance mechanism in different property right protection settings.

Details

Journal of Services Marketing, vol. 27 no. 5
Type: Research Article
ISSN: 0887-6045

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