Analysis of management compensation has focused on the principal — agent problem. We address the problem confronting owners who must choose a manager without knowing the productivity of individual managers. We find performance contingent contracts may result in a separating equilibrium in which high productivity managers accept contracts low productivity managers find unacceptable.
The possibility that government borrowing may crowd out private borrowing has been widely discussed in the popular press and extensively analyzed by researchers. The…
The possibility that government borrowing may crowd out private borrowing has been widely discussed in the popular press and extensively analyzed by researchers. The Clinton Administration's “Operation Twist,” resulting in increased reliance on short‐term securities to fund the Federal deficit, highlights the impact of the maturity structure of Treasury debt issues on interest rates. This paper examines the relationship between changes in the maturity distribution of Treasury issues and Moody's twenty year AA municipal bond yield. Briefly, I find changes in the maturity structure of outstanding Treasury securities Granger‐cause changes in the Moody's twenty‐year AA municipal bond yield. The results suggest that changes in the maturity structure of Treasury borrowing will impact the interest expense of municipal debt issues and therefore the rate of return earned by holders of municipal securities.
Although most labor and microeconomic textbooks contain a theoretical discussion of the backward‐bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make labor‐leisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three seperate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward‐bending region of their labor supply curves.
This chapter analyzes the owner-manager contracting problem for firms competing in imperfectly competitive markets. The strategic interdependence of firms results in…
This chapter analyzes the owner-manager contracting problem for firms competing in imperfectly competitive markets. The strategic interdependence of firms results in optimal incentive contracts that either compensate or penalize managers for sales. The predictions of the model are tested empirically and estimates of contract coefficients are reported. The results fail to confirm the predictions of the theoretical model; however, the coefficient estimates suggest that while the effects of profits and sales on compensation vary significantly across firms and industries, managers of most firms are rewarded for increases in firm profits.
This chapter presents results of a qualitative study among European champions in social media management. It aims to describe a strategic process and its implications for…
This chapter presents results of a qualitative study among European champions in social media management. It aims to describe a strategic process and its implications for social media strategic management.
The chapter is based on four in-depth case studies involving both primary and secondary data analysis and interviews.
Social media management is governed by similar principles as corporate communication management. However, there is an important role of personal preferences of senior executives for an effectiveness of the strategic process.
The model allows describing the social media management in the multinational companies. Organizational learning process drawn in this chapter can be directly applied in the multinational companies from various industries.
Social media create an environment in which established actors need to learn how to communicate socially. Sophistication of the tools requires sophistication of the strategies and processes.
Originality/value of chapter
This chapter analyzes companies from various industries which are considered successful in social media strategic management. It creates a model which is applicable in various industries. It provides also insights into social media strategies from the research among social media global leaders.
I'VE said it before, and I'll say it again: Eastbourne is an excellent place for a conference, and I set out for it after five years' absence with the hope that its handsome and genial presence would produce something better than the mixture of ordinary, obvious and sometimes inaudible papers that have been a constituent of more than one intervening conference. That towns can affect such occasions is no doubt a farfetched conceit, but they certainly affect me; as soon as I arrived the environmental magic worked, and old friends and new faces were seen in the golden light of perfect autumn weather.
Most studies pertaining to social tagging focus on one platform or platform type, thus limiting the scope of their findings. The purpose of this paper is to explore social…
Most studies pertaining to social tagging focus on one platform or platform type, thus limiting the scope of their findings. The purpose of this paper is to explore social tagging practices across four platforms in relation to cultural products associated with the book Casino Royale, by Ian Fleming.
A layered and nested case study approach was used to analyse data from four online platforms: Goodreads, Last.fm, WordPress, and public library social discovery platforms. The top-level case study focuses on the book Casino Royale, by Ian Fleming and its derivative products. The analysis of tagging practices in each of the four online platforms is nested within the top-level case study. Casino Royale was conceptualized as a cultural product (the book), its derived products (e.g. movies, theme songs), as well as a keyword in blogs. A qualitative, inductive, and context-specific approach was chosen to identify commonalities in tagging practices across platforms whilst taking into account the uniqueness of each platform.
The four platforms comprise different communities of users, each platform with its own cultural norms and tagging practices. Traditional access points in the library catalogues focused on the subject, location, and fictitious characters of the book. User-generated content across the four platforms emphasized historical events and periods related to the book, and highlighted more subjective access points, such as recommendations, tone, mood, reaction, and reading experience. Revealing shifts occur in the tags between the original book and its cultural derivatives: Goodreads and library catalogues focus almost exclusively on the book, while Last.fm and WordPress make in addition cross-references to a wider range of different cultural products, including books, movies, and music. The analyses also yield apparent similarities in certain platforms, such as recurring terms, phrasing and composite or multifaceted tags, as well as a strong presence of genre-related terms for the book and music.
The layered and nested case study approach presents a more comprehensive theoretical viewpoint and methodological framework by which to explore the study of user-generated metadata pertaining to a range of related cultural products across a variety of online platforms.
I suppose that most noticeable of all the changes in our profession since I came into it has been the multiplicity of the methods by which one can become a librarian. A. E. Standley says in a recent article in the L.A.R., in 1970: “The term librarian includes the Library Association chartered librarian, the graduate with a degree in librarianship, the scholar librarian, the information and intelligence officer, the translator, the abstracter, the non‐library‐qualified subject expert”.
Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.