Managerial Discretion And Performance In China
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Managerial Discretion And Performance In China
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Author : Hagen Wülferth
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-04-17
Managerial Discretion And Performance In China written by Hagen Wülferth and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-17 with Business & Economics categories.
The theoretical and empirical literature to date has fallen short of reaching a consensus as to whether granting more managerial discretion to managers tends to enhance, not alter or diminish organizational performance (the discretion puzzle). This book aims to build a bridge between these contradictory results by synthesising principal-agent theory, stewardship theory, and managerial discretion theory into a new empirically-validated model. Using a representative sample of 'double-blind' interviews with managers of 467 firms in China and applying partial least squares path modelling (PLS), the study identifies a potential cause of the discretion puzzle: the failure of the extant literature to account for granularity in the way that managers use their discretion. This generates far-reaching implications for theoretical and empirical research as well as practical recommendations for managing managers in multinationals and Chinese companies.
Manipulation Effect Of Managerial Discretion On Managerial Compensation
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Author : Changzheng Zhang
language : en
Publisher: Nova Science Pub Incorporated
Release Date : 2010
Manipulation Effect Of Managerial Discretion On Managerial Compensation written by Changzheng Zhang and has been published by Nova Science Pub Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Science categories.
Recently, scholars and practitioners have focused on the inverse relationship between managerial payment and corporate performance, which shows how the principle-agent theory cannot adequately explain the decision mechanism of managerial payment. Based on the Managerial Power Approach, the book brings managerial discretion into the investigation on managerial pay. The book makes contributions such as: it constructs measurement index system of managerial discretion based on public reports. The classical ERIC questionnaire measures managerial discretion directly from CEO's by 63 items, while the book divides managerial discretion into resource co-operation power, structure-position power and expertise-reputation power, and then measures them by public report. The two methods have the similar results, and this method has the advantage of being low cost, and easily carried out. It confirms that managerial discretion can manipulate the managerial pay level by the regression analysis of managerial discretion and managerial pay level. It also confirms that the pay level goes beyond the reasonable level too much with the accretion of managerial discretion, which shows that the manipulation effect on pay level does exist. then the book describes the manipulation effect quantitatively. By curve estimation of monitoring intensity effect on manipulation effect, it also gives other relationship curves between them, which shows that the manipulation effect decreases significantly with the accretion of managerial discretion. The book constructs pay performance sensitivity model based managerial discretion. Based on Saltuk Model, the book brings managerial discretion and proves that managerial discretion and pay-performance sensitivity are negatively associated. Then the book confirms that pay performance sensitivity will decrease with an increase of managerial discretion by regressional analysis.
Decision Rights Residual Claim And Performance
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Author : Weiying Zhang
language : en
Publisher:
Release Date : 1996
Decision Rights Residual Claim And Performance written by Weiying Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business enterprises categories.
Manipulation Effects Of Managerial Discretion On Executive Compensation
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Author : Changzheng Zhang
language : en
Publisher: Nova Science Publishers
Release Date : 2016
Manipulation Effects Of Managerial Discretion On Executive Compensation written by Changzheng Zhang and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
Facing with the ever increasing change of the business environment, the firms have recognized that their persistent competitive edge increasingly depends on whether or not they own the dedicated, experienced and capable CEOs. In the global practice, more and more firms have tried, or are trying, or will try to change their CEOs in order to get higher firm performance or just to get out of recession. Especially it is true in China. However, in theory, the literature in the related fields, such as the corporate governance, the strategic human resource management, the strategy management, the principal-agent theory and so on, has only addressed how to arrange managerial discretion and executive compensation reasonably under the normal circumstances, while ignoring the conditions of CEO change. Therefore, each stakeholder in the post-CEO change period has no clear theoretical guidances on how to reallocate managerial discretion and reset executive compensation for the fresh CEOs. Such a theoretical research gap has leaded to a large number of failures in the issue of CEO change. In order to make up this gap, this book tries to investigate the relationship between managerial discretion and executive compensation under the conditions of CEO change, which can not only practically guide the re-balancing of the corporate governance and further improve the success possibility of CEO change, but can theoretically enrich the contributions in managerial discretion approach and executive compensation theory. Based on the comparative study perspective, by drawing on the data from Chinese listed companies as the sample and adopting the Correlation Analysis, Multiple Linear Regression and Hierarchical Models as the statistical analysis methods, the book investigates how managerial discretion, respectively for the fresh CEOs and the senior CEOs, manipulates each dimension of executive compensation, i.e. executive compensation level, CEO pay-performance sensitivity, executive compensation gap and executive-employee compensation gap. The book makes two valuable new findings: First, the book confirms that both the fresh CEOs and the senior CEOs have the motives and capabilities to manipulate each dimension of executive compensation, but varying by intent and intention; Second, the book proves that the fresh CEOs show higher firm-serving motives when they manipulate each dimension of executive compensation by performing managerial discretion, while the senior CEOs show relatively higher self-serving motives. Based on the research results, the book builds the fresh-keeping mechanisms of firm-serving motives of the fresh CEOs during their whole CEO tenure, which are of great meanings for the government, the scholars and the practitioners and so on.
Business Strategy And Corporate Governance In The Chinese Consumer Electronics Sector
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Author : Hailan Yang
language : en
Publisher: Elsevier
Release Date : 2011-10-18
Business Strategy And Corporate Governance In The Chinese Consumer Electronics Sector written by Hailan Yang and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-18 with Business & Economics categories.
This book analyses how China’s firms in the consumer electronics (CE) sector have developed their business strategy and corporate governance during the reform process. The CE sector is one of China’s most important and dynamic manufacturing sectors. As one of the earliest market-oriented sectors after 1978, its experience illustrates the adoption of the Western model of management in China. This is the first book to analyse the link between business strategy, corporate governance and performance of firms, explicitly comparing state-, collective-, and privately-owned firms. This book argues that the competitive dynamics of the market are central to the survival of firms in contemporary China. Focuses on the state, collective and private Chinese firms in the consumer electronics sector Provides insights into the interactions among political, economic and corporate factors in the China business environment that influence the strategies and performance of these firms Compares the corporate governance of these Chinese firms across different ownership forms
China S Domestic Private Firms
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Author : Anne S. Tsui
language : en
Publisher: Routledge
Release Date : 2014-12-18
China S Domestic Private Firms written by Anne S. Tsui and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-18 with Business & Economics categories.
One of the most important outcomes of market reforms in China over the past 20 years has been the emergence of a significant domestic private sector, which now accounts for almost a third of China's GDP and is by far the country's most important source of employment growth. This book is the first in-depth analysis of the management and operation of these domestic private firms, which are defined as companies or organizations created by PRC citizens, including township enterprises and collectives. The book provides a comprehensive and multidisciplinary perspective on the factors important to the successful operation and growth of these firms. It begins with a review of the literature on the topic in three different disciplines - economics, sociology, and management - each followed by several chapters covering recent developments in these areas. Featuring contributions by distinguished scholars and China experts, the work concludes with an insightful chapter on the future of China's public sector in the global economy.
Performance Of The Chinese Insurance Industry Under Economic Reforms
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Author : Shujie Yao
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
Performance Of The Chinese Insurance Industry Under Economic Reforms written by Shujie Yao and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.
The Chinese insurance industry has experienced rapid development during the past decade. This original book is the first study in English literature to address the efficiency issue of the Chinese insurance sector, and presents a comprehensive review on alternative methodologies for analyzing firm efficiency. The authors suggest alternative ways to improve performance of insurance companies in China and make useful policy recommendations on regulation, competition and development of the insurance industry. They expand the applications of data envelopment analysis and stochastic frontier analysi.
The Moderating Roles Of Managerial Discretion And Absorptive Capacity In The Relationship Between Entrepreneurial Social Networks Structural Holes And New Venture Revenue Growth In China
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Author : Yi Wang
language : en
Publisher:
Release Date : 2020
The Moderating Roles Of Managerial Discretion And Absorptive Capacity In The Relationship Between Entrepreneurial Social Networks Structural Holes And New Venture Revenue Growth In China written by Yi Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Corporate Finance
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Author : Stefan Cristian Gherghina
language : en
Publisher: MDPI
Release Date : 2021-05-18
Corporate Finance written by Stefan Cristian Gherghina and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-18 with Business & Economics categories.
This book comprises 19 papers published in the Special Issue entitled “Corporate Finance”, focused on capital structure (Kedzior et al., 2020; Ntoung et al., 2020; Vintilă et al., 2019), dividend policy (Dragotă and Delcea, 2019; Pinto and Rastogi, 2019) and open-market share repurchase announcements (Ding et al., 2020), risk management (Chen et al., 2020; Nguyen Thanh, 2019; Štefko et al., 2020), financial reporting (Fossung et al., 2020), corporate brand and innovation (Barros et al., 2020; Błach et al., 2020), and corporate governance (Aluchna and Kuszewski, 2020; Dragotă et al.,2020; Gruszczyński, 2020; Kjærland et al., 2020; Koji et al., 2020; Lukason and Camacho-Miñano, 2020; Rashid Khan et al., 2020). It covers a broad range of companies worldwide (Cameroon, China, Estonia, India, Japan, Norway, Poland, Romania, Slovakia, Spain, United States, Vietnam), as well as various industries (heat supply, high-tech, manufacturing).
Governing Enterprises In China
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Author : Zhang Cheng
language : en
Publisher: Springer Nature
Release Date : 2021-06-24
Governing Enterprises In China written by Zhang Cheng and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-24 with Social Science categories.
This book examines the nature of the marketization of corporate boards following the introduction of the split share reform, corporate board and shareholder relations, corporate performance, and risk-taking conduct in China. The chapters cover topics such as determinants of corporate board size and independence, corporate risk-taking conduct under different controlling shareholder types. The book deepens our understanding of corporate governance mechanisms as most previous studies have limited their findings using mainstream perspectives grounded on neoclassical theory. It outlines that China’s corporate board composition is determined by the board’s scope of operation, monitoring, bargaining power, and other governance mechanisms and regulations. It also offers a comparison between China’s experience with other economies in general and other transition economies in particular. As such, the book represents an essential overview of the current concerns regarding corporate governance in China. It is of great interest to legal researchers, policymakers, and legal practitioners working with business investments in China.