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Article
Publication date: 10 January 2018

Xiaoling Wu, Yichen Peng, Xiaofeng Liu and Jing Zhou

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for the…

Abstract

Purpose

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for the public-private-partnership (PPP) project.

Design/methodology/approach

Based on the governmental dilemma for the compensation of PPP project, a generalized compensation contract is designed by the combination of compensation before the event and compensation after the event. Then the private investor's claimed concession profit is taken as its fair reference point according to the idea of the BO model, and its fair utility function is established by improving the FS model. Thus the master-slave counter measure game is applied to conduct the behavior modeling for the governmental compensation contract design.

Findings

By analyzing the model given in this paper, some conclusions are obtained. First, the governmental optimal compensation contract is fair incentive for the private investor. Second, the private fair preference is not intuitively positive or negative related to the social efficiency of compensation. Only under some given conditions, the correlation will show the consistent effect. Third, the private fair behavior’s impact on the efficiency of compensation will become lower and lower as the social cost of compensation reduces. Fourth, the governmental effective compensation scheme should be carried out based on the different comparison scene of the private claimed portfolio profit and the expected revenue for the project.

Originality/value

This study analyzes the effects of private investor's fair preference on the validity of governmental generalized compensation contract of the PPP project for the first time; and the governmental generalized compensation contract designed in this study is a pioneering and exploratory attempt.

Details

China Finance Review International, vol. 8 no. 1
Type: Research Article
ISSN: 2044-1398

Keywords

Book part
Publication date: 15 August 2007

Nalinaksha Bhattacharyya

This model explains dividends as a component of a contract set up by an uninformed principal. I start from a well-documented empirical fact that there is a relation between…

Abstract

This model explains dividends as a component of a contract set up by an uninformed principal. I start from a well-documented empirical fact that there is a relation between dividends declared and executive compensation. I find that when hidden information is about the productivity of the agent then dividend – conditional on cash available – bears a negative relationship to managerial type. That is, for a given level of available cash, the lower type manager declares a higher dividend than that declared by a manager with higher productivity. The result is robust under different model extensions. I also discuss empirical implications of the model.

Details

Issues in Corporate Governance and Finance
Type: Book
ISBN: 978-1-84950-461-4

Article
Publication date: 3 September 2019

Hamed Aminzadeh

Multistage amplifiers require a reliable frequency compensation solution to remain stable in a closed-loop configuration. A frequency compensation scheme creates an inner negative…

Abstract

Purpose

Multistage amplifiers require a reliable frequency compensation solution to remain stable in a closed-loop configuration. A frequency compensation scheme creates an inner negative feedback loop amongst different amplifying stages and shapes the frequency response such that an unconditionally stable single-pole amplifier results for closed-loop operation. The frequency compensation loop is thus responsible for the placement of the poles and zeros and the final stability of multistage amplifiers. An amplifier incorporating a sophisticated frequency compensation network cannot be, however, analyzed in the presence of a complex ac feedback loop. The purpose of this study is to provide a reliable model for the compensation loop of multistage amplifiers at the higher frequencies.

Design/methodology/approach

In this paper, the major part of the amplifier, including a two-port network comprising the compensation network, is characterized using a reliable feedback model.

Findings

The model integrates all the frequency-dependent components of the frequency compensation network, and it can evaluate the nondominant real or complex poles of an amplifier.

Originality/value

The reliability of the proposed model is verified through analysis of the frequency response of the amplifiers and by comparing the analytic results with the simulation results in standard CMOS process.

Details

Circuit World, vol. 45 no. 4
Type: Research Article
ISSN: 0305-6120

Keywords

Article
Publication date: 28 August 2019

Ning Chai, Rob Stevens, Xiaozhen Fang, Chun Mao and Ding Wang

The purpose of the paper is to investigate compensation and related welfare issues in the case of the expropriation of land for urban redevelopment in China.

Abstract

Purpose

The purpose of the paper is to investigate compensation and related welfare issues in the case of the expropriation of land for urban redevelopment in China.

Design/methodology/approach

A mixed methods quantitative and qualitative approach was selected to undertake the research. This involved a wide ranging qualitative review of the academic and policy literature to explore the relevant arguments and issues, combined with a quantitative regression analysis of survey data collected from research subjects.

Findings

The research identified the complex and changeable phenomena of urban village redevelopment in China, and the variable compensation arrangements used. The research found that monthly family income before land expropriation, monthly family expense before expropriation, the location of the housing expropriation and family unit size are important determinants for the property holders chosen methods of compensation. It also found that an increase in family size leads to a decreasing probability that the expropriated farmers choose the single monetary compensation relative to the alternative option of housing compensation. The degree of satisfaction with compensation, changes in monthly family income and expense are found to be significant determinants for changes in life satisfaction.

Research limitations/implications

The research made the following four recommendations based upon the qualitative and quantitative analysis: that local governments should pay closer governance/ political attention to changes in the welfare of the farmers/ villagers whose property has been expropriated; that central and local government should aim to improve the compensation system for rural land and property expropriation, to make the compensation policy be perceived as fairer and more reasonable by citizens; that a broad National standard of compensation be used within a pragmatic locally focussed regime; that the Chinese Central, Provincial and Local governments can devise improved policy tools and make more effective policy interventions by learning from the experiences (both successes and failures) of other countries approaches to this topic. It also suggested that further research be undertaken investigating the multitude of local level policy experiments, as a way of developing better National compensation standards based upon those compensation standards that appear to be working – and have citizen support – at the local level.

Originality/value

The literature review identified recent developments in Chinese urban studies and originally synthesised both recent and longstanding work on the issue of urban villages in China. The research also suggested changes to the National and Local legal and policy framework for compensation cases in urban redevelopment expropriation scenarios.

Details

Journal of Property, Planning and Environmental Law, vol. 11 no. 3
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 13 July 2018

Hugo Guyader

This paper aims to focus on collaborative consumption, that is, the peer-to-peer (P2P) exchange of goods and services facilitated by online platforms. Anchored in the access…

2774

Abstract

Purpose

This paper aims to focus on collaborative consumption, that is, the peer-to-peer (P2P) exchange of goods and services facilitated by online platforms. Anchored in the access paradigm, collaborative consumption (e.g. accommodation rental and ridesharing services) differs from commercial services offered by firms (e.g. business-to-customer [B2C] carsharing). The aim of this study is to examine the nuanced styles of collaborative consumption in relation to market-mediated access practices and socially mediated sharing practices.

Design/methodology/approach

Following the general research trend on mobility services, the context of long-distance ridesharing is chosen. Data collection was conducted using participant observation as peer service provider, 11 ethnographic interviews of consumers and a netnographic study of digital artifacts.

Findings

Using practice theory, ten ridesharing activities were identified. These activities and the nuances in the procedures, understandings and engagements in the ridesharing practice led to the distinction of three styles of collaborative consumption: communal collaborative consumption, which is when participants seek pro-social relationships in belonging to a community; consumerist collaborative consumption, performed by participants who seek status and convenience in the access lifestyle; and opportunistic collaborative consumption, when participants seek to achieve monetary gain or personal benefits from abusive activities.

Originality/value

By taking a phenomenological approach on collaborative consumption, this study adds to the understanding of the sharing economy as embedded in both a utilitarian/commercial economic system and a non-market/communal social system. The three styles of collaborative consumption propose a framework for future studies differentiating P2P exchanges from other practices (i.e. B2C access-based services and sharing).

Details

Journal of Services Marketing, vol. 32 no. 6
Type: Research Article
ISSN: 0887-6045

Keywords

Book part
Publication date: 8 July 2010

Minako Ichikawa Smart

Purpose – The purpose of this chapter is to highlight the current limitations in compensating the civilian victims of armed conflicts and to examine the possibility of extending…

Abstract

Purpose – The purpose of this chapter is to highlight the current limitations in compensating the civilian victims of armed conflicts and to examine the possibility of extending this practice.

Methodology/approach – The first half of the chapter employs legal and political analysis of the current framework of international law and the practice of the United States. The latter half of the chapter examines the literature on theory of liability in economics and philosophy.

Findings – The framework of international law, which does not require compensation for the victims of lawful attacks, is increasingly at odds with the current trend in which military force is used by a powerful state against a much weaker state on the grounds that the local population would benefit from the operation. The system developed by the United States is the most extensive and can form a model for other states and international institutions. Keating's analysis of enterprise liability can be applied to compensation of victims in military operations that are deemed to be beneficial to the population. Economic analysis, on contrary, suggests that compensation of civilian victims has minimal effect on the level of risks.

Originality/value – This chapter makes a unique contribution by applying theory of liability to a situation that widely diverges from the context in which the theory has developed. It critically examines the current practice and proposes a morally preferable and economically sustainable alternative model.

Details

Economics of War and Peace: Economic, Legal, and Political Perspectives
Type: Book
ISBN: 978-0-85724-004-0

Article
Publication date: 1 July 2003

Edilberto F. Montemayor

Employee dissatisfaction with merit pay is a long‐standing problem. This study introduces four explanatory constructs, based on decisional and interactional fairness notions, that…

Abstract

Employee dissatisfaction with merit pay is a long‐standing problem. This study introduces four explanatory constructs, based on decisional and interactional fairness notions, that describe how supervisors implement merit pay and predict merit pay satisfaction. Multigroup confirmatory factor analyses, applied to a sample of American employees (N = 415) and a sample of Venezuelan employees (N = 239), show that the five constructs introduced here are distinct from each other and that their measures generalize across countries (cultures and languages).

Details

Management Research: Journal of the Iberoamerican Academy of Management, vol. 1 no. 2
Type: Research Article
ISSN: 1536-5433

Keywords

Article
Publication date: 1 August 2005

Kuen‐Hung Tsai and Jiann‐Chyuan Wang

To examine the moderating effect of employee benefits on the relationship between labor input and firm output.

4149

Abstract

Purpose

To examine the moderating effect of employee benefits on the relationship between labor input and firm output.

Design/methodology/approach

Three high‐tech sectors, covering different time periods, are taken as the analytical samples. An extended Cobb‐Douglas production function is adopted to examine the research hypotheses.

Findings

Examinations reveal that employee benefits have a moderating effect on firm productivity, irrespective of industry or firm size. Furthermore, the effect size is greater in small to medium‐sized enterprises (SMEs) than in large firms.

Research limitations/implications

Using benefits to achieve competitive advantage for SMEs seems to be more important than for large firms. However, this examination concentrates on the electronics industry only.

Practical implications

Benefits can help a firm achieve competitive advantage through better quality of labor.

Originality/value

This study makes an interesting contribution to the understanding of the relationship between benefits and firm productivity.

Details

Personnel Review, vol. 34 no. 4
Type: Research Article
ISSN: 0048-3486

Keywords

Article
Publication date: 17 October 2008

Ping He and Zhongsheng Hua

To develop a method of compensation analysis based on the additive data envelopment analysis model.

583

Abstract

Purpose

To develop a method of compensation analysis based on the additive data envelopment analysis model.

Design/methodology/approach

It is a common assumption in current target setting literature that outputs of decision making units (DMUs) are generated simultaneously. In practice, outputs of DMUs may be generated consecutively, and targets of posterior outputs may need to be adjusted to keep a DMU efficient when the anterior output cannot reach the previously set output target. The proposed method determines a compensation rate among consecutive outputs, which is applied to keep a DMU efficient when the decrease of an anterior output exceeds its stability region. This compensation analysis is also extended to consecutive inputs.

Findings

Sufficient and necessary conditions for preserving efficiency upon output compensation are presented.

Research limitations/implications

The compensation analysis when multiple anterior outputs decrease from their previously set targets is the main limitation, and needs further investigation.

Practical implications

The paper is a useful method for decision maker to set target consecutively.

Originality/value

The paper defines a new target setting (adjusting) problem, in which targets of posterior outputs may need to be adjusted to keep a DMU efficient if an anterior output of the DMU decreases from its previously set target. Theoretical analyses of the compensation analysis are provided.

Details

Kybernetes, vol. 37 no. 9/10
Type: Research Article
ISSN: 0368-492X

Keywords

Abstract

Details

Structural Models of Wage and Employment Dynamics
Type: Book
ISBN: 978-0-44452-089-0

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