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The authors analyze the association between the functional background of the compensation committee chair and CEO compensation. The analysis is motivated by the continuing debate about the reasonableness of executive pay patterns and the growing emphasis on the role of compensation committees.

The authors define three expert categories—accounting, finance, and generalist—and collect data on the compensation committee (CC) chairs of the S&P 500 firms from 2008 to 2018. The authors run an ordinary least square model and regress CEO total and cash compensation on the three expert categories.

The authors find that firms in which the CC chair has expertise in accounting, finance, and general business favor performance measures that are more aligned with accounting, finance, and general business, respectively. There is little evidence that CC chairs who are CEOs of other firms endorse more generous pay for the host CEO; the authors find some evidence that CC chairs tenure relative to the host CEO's is negatively associated with the level of the CEO's pay.

This study suggests that firms and regulators should consider the background of the compensation committee chair to understand the variations in top executive.

Companies desiring to link executive compensation to particular areas of strategy must also consider matching the functional background of the compensation committee chair with the target strategy areas. From regulatory standpoint, requiring compensation committees to operate independent of inside directors can reduce attempts by inside directors to skim the process, but a failure to also consider the impact of compensation committees' discretion over the pay-setting process can distort the executives' pay-performance relation.

This is the first study to examine the effects of the functional background of the compensation committee chair on CEO compensation.

This paper aims to uncover patterns of Mexican craft beer consumers and guide companies’ decisions in the creation of new products, marketing strategies, advertising and promotion to increase craft beer sales and contribute to faster growth.

This is a conjoint analysis with a selection of attributes for new or renewed products, marginal disposition to pay for particular characteristics through brand-specific choice-based design, and market simulation.

This paper clearly demonstrates consumers’ preferences and willingness to pay in Mexico, with a cutting-edge market research technique combining the prioritization of preferred craft beer characteristics, and the price consumers are willing to pay for such product characteristics.

The study's sample size of 501 responses is relatively small compared to the total number of craft beer consumers in Mexico. To enhance the validity and reliability of the findings, future studies should aim to obtain larger samples and compare their results with those of this study.

This study has important implications for craft beer producers, allowing them to develop targeted craft beers with appealing attributes for Mexican consumers, such as color, aroma intensity, alcohol degree intensity, bitterness, foam level and price.

This study's market forecasting simulation technique is based on assumptions of consumer behavior and market dynamics. Although relevant variables were considered, unanticipated external factors or market changes could impact the forecasts' accuracy. This will allow for a more comprehensive understanding of craft beer consumer preferences in different markets and enhance the reliability of forecasting techniques.

This paper informs craft beer producers by providing valuable knowledge on customers’ preferences and willingness to pay to enhance craft beer companies’ product development processes.

This research attempts to examine bank dividend policy in Indonesia by applying the life cycle theory of dividends.

This research used secondary data gotten from two sources: banks’ annual financial statements from 2005 to 2019 and the number of observation samples was 510 from 42 banks. Random Effects Logit Model (RELM) is used to detect the influence of independent variables on Propensity to Pay Dividends (PPD) and Random Effects Tobit Model (RETM) is used to test the influence of independent variables on Dividend Payout Ratio (DPR).

The RELM results show that Retained Earnings to Total Equity (RE/TE), Retained Earnings to Total Asset (RE/TA) and bank age have a positive impact on the propensity to pay dividends (PPD) while bank growth (GRW) has a negative impact. The RETM results reveal that RE/TE, ROA and bank size have a positive impact on the dividend payout ratio (DPR) while GRW has a negative impact. This analysis also discovers that the capital adequacy ratio (CAR) and Non-performing Loans (NPL) is one important factor considered by banks in Indonesia in determining their dividend policy.

This study contributes to enriching literature in finance, especially in the life cycle theory of dividends. Also, it can be a guide to consider by investors before deciding to put their shares in banks in Indonesia.

Research on bank-specific life cycle theory is very difficult to find, especially in the Indonesian context, so this research can enrich the body of knowledge on dividend decisions.

Nwaeze and Kalelkar (2023) examine the association between the functional background of the compensation committee chair (CC chair) and CEO compensation using S&P 500 firms from 2008 to 2018. They find that the CC chair's functional background is positively associated with the adoption of performance measures that are more aligned with such background. This discussion starts with Nwaeze and Kalelkar's (2023) incremental contribution, and offers suggestions on two areas for improvement. First, the authors could provide a more focused discussion of the conceptual framework. Second, the authors could improve their empirical design and interpretation of results. Avenues for future research are also suggested.

This discussion suggests methods and model specifications that may strengthen the research design, facilitate the interpretation of results, and provide additional insights.

The discussed paper could improve the reliability and rigor of the empirical tests and the conclusions by providing more contextual and granular information on firms' actual CEO compensation arrangements, using more careful testing procedures, and enhancing clarity in the writing.

Researchers could be interested in alternative perspectives and richer analyses of non-agency model based determinants of CEO compensation.

The effects of country-of-origin (COO) cues on product evaluations are well documented. However, research on the relative effects of COO compared to other geographical indicators, such as region-of-origin (ROO), on food purchases is still limited. This study investigates how geographical origin labels influence consumers' perceptions of product value and authenticity of foreign food, as well as subsequent purchase intention (PI) and willingness to pay premium prices (WTPPP). The moderating role of health consciousness on these relationships is also examined due to the coronavirus disease 2019 (COVID-19) pandemic.

This study uses a between-subjects experimental design conducted with 300 middle- and high-income Chinese consumers aged between 25 and 50 years. Hypotheses were tested using structural equation modelling.

Whilst under both COO and ROO cues, all five product values positively influenced consumers' WTPPP, only functional, economic and novelty values influenced PI. The ROO cue performed significantly better than the COO cue in eliciting functional, economic and novelty value perceptions, which triggered stronger PI and willingness to pay a premium price. These relationships were mediated by product authenticity (PA) and moderated by consumers' health consciousness (HC).

Because food labels provide salient product information that facilitates consumers' evaluation of products, marketers should assess which product value perceptions they wish to enhance and then choose the appropriate geographical indicators for their labelling strategies.

This study identifies the effects of COO and ROO cues on product values, authenticity, PI and WTPPP. It also provides valuable insights into the role of HC on consumers' purchase decisions, which also aids in understanding the impact of global crises on food purchases.

In construction projects, underpayments can be recognised as one of the significant drawbacks that impact the success of a project. Research into underpayments is considered ambiguous and provides a limited reflection of the issue, which makes it complicated to trace how it originates in the first place. This study aims to examine the causes that lead to underpayments and develop a holistic synthesis of underpayments for subcontractors in the lifecycle of a construction project.

An open-ended and closed-ended questionnaire was used to collect the data using purposeful sampling with 28 construction stakeholders who ranged from main contractors, subcontractors and others (Small medium enterprises SMEs, Consultancies, Clients etc.). Data collected was analysed to trace drivers and the impact of underpayment and suggested mitigation strategies to be identified whilst viewing the perspectives of a main contractor and subcontractor.

The findings show that the most prominent driver for underpayments is variation disputes followed by cash flow. The research also suggests mitigation strategies such as collaborative working, more robust budget control and early identification of risks as potential remedies to overcome the underpayment issue. The research concludes with a framework that elicits the complexity underlying underpayments for subcontractors in construction projects.

The research evolves the understanding that underpayment is a complex phenomenon, relying heavily on the data/information exchange mechanism between the main contractor and subcontractors. This research provokes the need to understand underpayment further so it can be mitigated.

The purpose of this paper is to understand how those involved in executive pay determination in large publicly quoted UK businesses see the role of diversity within remuneration committees (Remcos) as enabling the input of different perspectives, which can enhance their decision-making and potentially improve pay outcomes.

Qualitative, semi-structured interviews were undertaken with 18 high-profile major-enterprise decision-makers and their advisers, i.e. non-executive directors (NEDs) serving Remcos, institutional investors, executive pay consultants and internal human resources (HR) reward specialists, together with data from three focus groups with 10 further reward management practitioners.

Remco members recognise the benefits of social category/demographic diversity but say the likelihood of increasing this is low, given talent pipeline issues. The widening of value diversity is considered problematic for Remcos’ functioning. Informational diversity is used as a proxy for social category/demographic diversity to improve Remcos’ decision-making on executive pay. While the inclusion of members from wider social networks is recognised as potentially bringing a different informational perspective, the social character of Remcos, reflecting their elite nature and experience of wealth, appears ingrained.

Our original contribution is to extend the application of upper echelons theory in the context of Remco decision-making to explain why members do not welcome widening informational diversity by appointing people from different social networks who lack value similarity. Instead, by drawing views from employees, HR acts as a proxy for social network informational diversity. The elite, upper-echelons nature of Remco appointments remains unchanged and team functioning is not disrupted.

The integration of social media and e-commerce has resulted in a rising phenomenon among individual content providers (ICPs), who used to offer free content, to provide consumers with paid content, such as online courses, Q&As or consultations. Despite the prevalence of ICPs’ content monetization, empirical research has rarely studied its underlying mechanism. This paper examines how the characteristics of free content contributed by ICPs on social media platforms influence their paid content sales, focusing on the perspective of human brand.

The empirical setting is an online knowledge exchange platform, where users are allowed to provide free content (e.g. answers) on the social media platform and launch paid content (e.g. lectures) on the e-commerce platform. A machine learning technique is employed to construct measures for the characteristics of free content, and fixed-effects estimation is presented to confirm which factors have a significant influence on the sales of paid content.

The empirical results show that the quality, diversity and expertness of free content have a significant positive impact on the sales of the ICP-paid content, with the brand popularity of ICP playing a mediating role.

This study is the first attempt to demystify the relationship between content contribution and ICPs’ content monetization from the perspective of human brand. The findings validate the effectiveness of the “Selling by Contribution” strategy and provide valuable insights for ICPs and social media platforms.

This study aims to investigate the effects of peers on corporate payout policies in one of the largest emerging markets – India. It also examines the motives for mimicking payout decisions.

The sample is composed of 3,024 non-financial and non-government firms listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the period 1995 to 2020. To encounter the endogeneity problem, the instrumental variable technique based on peer firms' idiosyncratic risk is used to estimate the effects of peers on firms' payout policy. To define peer reference groups, the authors use the basic industry classification of the firms.

The results indicate a significant positive impact of peers on firms' dividend policies in India. A firm with all dividend-paying peers is more likely to declare dividends than the one with no dividend-paying peers. Further, peer effects are found to be more pronounced amongst larger and older firms, thus supporting the rivalry theory of mimicking.

To the best of the authors' knowledge, the present study is the first of its kind that attempts to understand peer effects on payout decisions in an emerging market India, that offers a unique institutional setting. Moreover, the authors extend the existing literature by investigating the peer effects on a firm's payout policies considering various firm-level characteristics, such as growth opportunity, cash holding, financial constraint and profitability, which previous studies have not taken into consideration. These results provide additional insights into the heterogeneity and motives behind peer effects.

Professional sports teams employ highly paid managers and coaches to train players and make tactical and strategic team decisions. A large literature analyzes the impact of manager decisions on team outcomes. Empirical analysis of manager decisions requires a quantifiable proxy variable for manager decisions. Previous research focused on manager dismissals, tenure on teams, the number of substitutions made in games or the number of healthy players on rosters held out of games for rest, generally finding small positive impacts of manager decisions on team success.

The authors quantify manager decisions by developing a novel measure of game-specific coaching decisions: the Herfindahl–Hirschman Index (HHI) of playing-time across players on a team roster over the course of a season.

Evidence from two-way fixed effects regression models explaining observed variation in National Basketball Association team winning percentage over the 1999–2000 to 2018–2019 seasons show a significant association between managers’ allocation of playing time and team success. A one standard deviation change in playing-time HHI that reflects a flattened distribution of player talent is associated with between one and two additional wins per season, holding the talent of players on the team roster constant. Heterogeneity exists in the impact across teams with different player talent.

This is one of the first papers to examine playing-time concentration in the NBA. The results are important for understanding how managerial decisions about resource allocation lead to sustained competitive advantage. Linking coaching decisions to wins can help teams to better promote this core product.