Compensation Arrangements Research Articles

A high efficiency wideband co‐polarised metalens antenna

AbstractThe traditional co‐polarised metasurface achieves 360° phase coverage only at the resonant frequency but not full phase coverage across a wide bandwidth. This paper proposes a multilayer structure metasurface, which composes of five layers of metal patch and four layers of medium, forming the Fabry–Perry resonator, using the principle of the cancellation of two polarisation conversion, which can achieve a wideband efficient co‐polarisation transmission. Based on the metasurface transmission phase principle, 360° phase coverage has been achieved by changing the geometric parameters of the intermediate metal patches. Through phase compensation arrangement, a metalens is designed using the proposed metasurface unit cell. At the same time, horn antenna is used as a feed to feed the metalens, which can significantly improve the gain of the antenna within a wideband. Simulated and measured results show that the proposed metalens antenna operates at 22–26 GHz, and the maximum measured gain of the metalens antenna reaches 24.16 dBi at 25 GHz, which is 10.85 dB higher than the horn antenna without metasurface compensation, showing good focusing performance. The proposed multilayer metasurface breaks the narrow band limit of the traditional stacked metasurface in principle, opening a way in the broadband metasurface design.

Balance of power in a conflict model

This study provides a microeconomic foundation for the bipolar stability hypothesis in international politics. It extends the well-designed conflict model of Esteban and Ray (Am Econ Rev 101(4):1345–1374, 2011) to include monetary compensation arrangements between the winning and losing groups, presenting a new conflict-related indicator called the balance of power index. The main finding of this study is that societal polarization serves to alleviate rather than exacerbate conflict intensity, which is elucidated by the balance of power index. This new characteristic of polarization is associated with the founding of the bipolar stability hypothesis by Waltz (J Int Affairs 21(2):215–231, 1967), Waltz (Theory of international politics. Addison-Wesley Publishing Company, Reading, 1979) under the economic behavioral model.

Peer comparison and management forecast behavior

ABSTRACT This study examines whether incentive contracts that compares managers’ compensation to that of stronger peers can influence voluntary disclosure behaviour and improve transparency. We obtain information regarding peer-based compensation arrangements from US public firms and find that managers whose compensation is benchmarked against peers who, on average, have higher managerial abilities, tend to issue management earnings forecasts more frequently. Furthermore, the peer comparison incentive effects are more pronounced when firms depend more on external financing, face greater product market threats, and have more endowed growth opportunities. Overall, our study highlights the effects of pressure arising from comparison with higher-quality peers on firms’ information environment. We contribute to the literature on tournament-based implicit incentives, peer effects, managerial ability, and economic consequences in the context of voluntary disclosures.

Evaluation of factors that act as barriers in conducting academic trials - An investigator's perception.

Academic trials are essential in investigating health research questions relevant to the society. Only a few leading research institutions in India have been engaged in academic trials. Thus, there is a need to understand what factors dampen the spirit of the academician in conducting academic clinical trials. The aim of the study is to evaluate the investigator's perception of obstacles to carrying out academic trials and to identify factors that will motivate investigators in conducting academic trials. We conducted a prospective observational study in a tertiary care hospital for 6 months. Faculty members working in academic institutes were selected. A structured questionnaire was designed for the study and administered using google forms. Responses were taken on a Likert scale. Validity and reliability assessments were carried out. Mann-Whitney test was applied to assess differences between demographic groups. P <0.05 was considered significant. Most of the participants rated applying for research grants (76%), obtaining funding for the study and making arrangements for compensation for trial-related events (75%) as extremely challenging. We found that the degree of challenge is significantly lower in the faculty members who conducted clinical trials in the past as against those who did not (P = 0.00069). We also found that the degree of challenge is significantly higher in the faculty members with <10 years of experience than those with >10 years of experience (P = 0.00001). Thus, to conclude the challenges faced by investigators were at multiple levels, most common being applying for research grants and making arrangements for the funds for payment towards participation or study-related injury. Faculty members with exposure to conducting clinical trials and with experience of more than 10 years had perceived a reduced degree of challenges.

The Government's Responsibility in Providing Compensation and Restitution in the Perspective of the Legal Theory of Dignified Justice

Introduction: The principle of legal equality is one of the characteristics of a rule of law state, victims of criminal justice must receive guaranteed legal protection. The position of the victim in the criminal justice system is still neglected because Indonesian criminal law is still oriented towards the interests of the perpetrator (Offer Oriented). Existing compensation and restitution arrangements are not in favor of victims of criminal acts.Purposes of the Research: The purpose of this research is to analyze compensation and restitution in the perspective of the Legal Theory of Dignified Justice.Methods of the Research: The research method used is a normative approach based on the philosophy of Pancasila.Results of the Research: Compensation and restitution arrangements in positive law are still not synergized well, so it is necessary to make legal policies related to the implementation of restitution for victims of criminal acts based on the values and legal culture of society. In the perspective of the theory of an integrated criminal justice system, the disharmony of legal substance and the asymmetry of the legal structure must be addressed immediately. The government must be held responsible for criminal acts if it is unable to pay restitution to victims of criminal acts. There is a need to improve compensation and restitution arrangements so that they are more pro-victims of crime and in accordance with the values and legal culture of society.

Discussion of “the functional background of the compensation committee chair: the choice and weight of performance measures in CEO compensation”

PurposeNwaeze and Kalelkar (2023) examine the association between the functional background of the compensation committee chair (CC chair) and CEO compensation using S&amp;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.Design/methodology/approachThis discussion suggests methods and model specifications that may strengthen the research design, facilitate the interpretation of results, and provide additional insights.FindingsThe 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.Originality/valueResearchers could be interested in alternative perspectives and richer analyses of non-agency model based determinants of CEO compensation.

Islamic Education and the Principles of Social Justice: Implications for Government Responsibilities in Providing Compensation and Restitution

The principle of legal equality, one of the fundamental principles in the rule of law, emphasizes the importance of providing legal protection to victims in the criminal justice process. This study examines existing compensation and restitution arrangements from an Islamic education studies perspective. This is important to strengthen the values of social justice, which are reflected in the Islamic education approach, which prioritizes the protection of victims as a moral and religious ethical mandate. This study will use a qualitative research method with a normative system based on Pancasila's philosophy from the Islamic education perspective. This research will collect quality data through interviews, observation, and document analysis, which will be analyzed inductively. The results of this study indicate that compensation and restitution arrangements in positive law still need to reflect the principles of justice recommended in Islam. From the perspective of Islamic education, this study highlights the need for legal policies based on Islamic values in implementing restitution for victims of criminal acts, taking into account human values, justice and social responsibility. The importance of harmonising legal substance and structure in an integrated criminal justice system was also found. In conclusion, improvements are needed in compensation and restitution arrangements so that they pay attention to victims of crime and are by the values and legal culture of the society in the perspective of Islamic education, with the government's responsibility to maintain the balance of the rights of perpetrators and victims in the criminal justice system.

Unlikely sabotage: Comment on Bloomfield, Marvão, and Spagnolo

Bloomfield, Marvão, and Spagnolo (2023) establish an interesting yet puzzling finding: Firms in concentrated industries that form cartels are more likely to use relative performance evaluation (RPE) compensation arrangements for their top managers. The paper interprets this as evidence that cartel members constrain managers' incentives to engage in costly sabotage when their compensation depends on their peer firms' performance. I argue that successful costly sabotage to gain an RPE advantage is extremely unlikely and that costly sabotage is more likely among cartel firms than non-cartel firms. It therefore is an unlikely explanation of the paper's main finding. I propose an alternative explanation, that RPE benchmarks include firms that are not cartel member firms.

Nonlinear Optical Imaging of Carrier Transport at the Semiconductor-Insulator Interface in Organic Field-Effect Transistors

Organic field-effect transistors (FETs) are witnessing a revolution in their performance, in part, due to a reduction in contact resistance, and through controlled morphology of the organic semiconducting film. Another major consideration is the role of the dielectric layer in dictating transport properties. The transient electric-field-induced second-harmonic generation (EFISHG) technique allows visualization of carrier dynamics in the channel region of a FET by capturing the movement of the induced dielectric polarization. A microscopic imaging system using a broadband femtosecond laser and a pulse compensation arrangement is constructed for imaging transient EFISHG from organic FETs by synchronized laser and voltage pulses. By varying the dielectric layer in organic FETs comprising pentacene and a donor-acceptor conjugated polymer as semiconducting layers, we show that EFISHG images provide an accurate estimate of the carrier mobility along with providing insights into channel formation and the electric field distribution within the channel region. We further correlate the interface charging effects observed in EFISHG to the interface trap density obtained by capacitance-voltage and conductance-voltage from metal-insulator-semiconductor diodes.

Executive Compensation Tied to ESG Performance: International Evidence

ABSTRACTUsing a wide sample of international publicly traded firms, this paper studies the rapidly increasing practice of incorporating Environmental, Social, and Governance (ESG) metrics in executive compensation contracts. Our evidence suggests that this compensation practice varies at the country, industry, and firm levels in ways that are consistent with efficient incentive contracting. We also observe that reliance on ESG metrics in executive compensation arrangements is associated with engagement, voting, and trading by institutional investors, which suggests that firms could be adopting this practice to align their management's objectives with the preferences of certain shareholder groups. Finally, we find that the adoption of ESG Pay is accompanied by improvements in key ESG outcomes, but not by improvements in financial performance.

Private Pre-Decision Information and the Pay–Performance Relation

ABSTRACTWe study how the precision of managers’ private post-contract pre-decision information affects the pay–performance relation. Endogenizing the information environment, we find that firms may optimally tie executive pay closer to firm performance as agency problems become more pronounced. Specifically, varying parameters measuring the severity of the agency problem, we identify parameter regions where firms with more pronounced agency problems optimally combine uninformative signals with a higher incentive rate than firms with less pronounced agency problems that optimally choose a perfect signal. We find this relation for various measures of the agency conflict such as the incongruency of the performance measure, its susceptibility to manipulation, or the agent’s degree of risk aversion. Because the pay–performance sensitivity is frequently used for measuring the efficiency of real-world compensation arrangements, our results provide relevant insights for empirical research studying the determinants of the relation between executive pay and firm performance.JEL Classifications: D81; D86; M12; M52.

Fairness Aspects Of Compensation Arrangements In The Acquisition Of Land For Development For The Public Interest

The need for land for development for the public interest is increasingly urgent, while the supply of land is increasingly limited. The fairness and redress mechanisms in the land acquisition are often fraught with problems. This study aims to analyze the fairness aspects of the regulation and the mechanism for providing compensation in the acquisition of land for development for the public interest. This research is normative, and prescriptive, with a regulatory and conceptual approach. The results of the study found that a) the fairness aspect of land acquisition arrangements for the public interest can be seen from the guarantee of adequate compensations stipulated in Law Number 2 of 2012 concerning Land Acquisition for Development for Public Interest, Law Number 11 of 2020 concerning Job Creation, Indonesian Assessment Standard 204, and other laws and regulations that relating to land acquisition. And b) the mechanism for providing compensation is carried out after the assessment is by the Indonesian Assessment Standard 204, Law Number 11 of 2020 concerning Job Creation, deliberations, and validation activities are completed. The payment given can be in the form of money in Rupiah as agreed by the Land Acquisition Committee and the community, then it can be given through a bank account appointed by the Government.

Comparative Ethics of Modern Payment Models

Comparative Ethics of Modern Payment Models

The real-time and carry-over effects of injustice on performance and service quality in a ridesharing driver scenario.

The online version contains supplementary material available at 10.1007/s12144-022-04215-3.

Evolving Human Resource Management Practices and Employee Performance of Selected Pharmaceutical Companies in Nigeria

This paper assessed affinity of evolving human resource practices with the performance of employees of the pharmaceutical companies in Nigeria. Prior studies have addressed the concept from generalist perspective majorly short of exploring innovative thrust of human resource processes and practices and bearing on organisational performance of the pharmaceutical concerns. Study essentially relied on survey research design and questionnaire as a source of data collection. Data were analyzed through descriptive statistics including the means, standard deviation and analysis of variance. Test of hypotheses involving multiple regression analysis was conducted and results exhibited innovative human resource management&amp;rsquo;s proxies of skill-based training; selective hiring, alternative work arrangement, performance appraisal, fair compensation and autonomy work arrangement, correlating significantly with the performance of employees in the pharmaceutical companies. Recommendation was on the need for the Pharmaceutical Companies to deploy human resource policies and strategies that address issues bordering on optimum harnessing and deployment of human resources for enhanced performance. Instructive to assert also, that the human resource personnel in the healthcare industry conduct annual performance audit that provide timely and effective feedback and for corrective measures to be taken appropriately.

Does Religion Matter For Corporate Pay Dispersion Symmetrically: An Institutional Approach

This study examines how corporate pay dispersion is shaped by Buddhism- and Confucianism-based institutional environments. Buddhism and Confucianism are prevalent in China and regarded as having a significant influence on corporate policies and practices. We theorize that a Buddhism-based institutional environment is negatively associated with horizontal and vertical pay dispersion, whereas a Confucianism-based institutional environment has competing influences (positive vs. negative relationship) on corporate pay dispersion. Furthermore, we theorize that Buddhism- and Confucianism-based institutional environments have an asymmetric influence on corporate pay dispersion. We propose the existence of an asymmetric influence between Buddhism- and Confucianism-based institutional environments, in which the magnitude of the influence of a Confucianism-based institutional environment on corporate vertical pay dispersion is stronger than that of the influence of a Buddhism-based institutional environment. Our study provides an improved understanding of the antecedents of corporate pay dispersion and empirical evidence showing how broad social structures shape corporate compensation arrangements.

LAND GRABBING AS UNLAWFUL ACT

&lt;p&gt;Land cases in Indonesia are one of the most common types of cases in Indonesia. The forms of land cases that often arise are related to land grabbing, namely illegal taking of land belonging to other party. An example of a land grabbing case can be seen in the Supreme Court Decision Number 1071 K/PDT/2020 where the Plaintiff is the rightful owner of a piece of land with property rights in Tanjung Jabung Barat Regency, Jambi Province as proven by the Certificate of Ownership, but then Defendant I came to take the land belonging to the Plaintiff by constructing a building on the land without a permit and refusing to move even though it has been given a warning, so that the Plaintiff feels aggrieved. Therefore, the author intends to find out how an act can be classified as against the law and what kind of compensation arrangements are in accordance with applicable regulations. The research method used is normative legal research method and the approach used is law approach and case approach. The results showed that land grabbing done by Defendant I could be classified as an act against the law because all the elements had been fulfilled; while related to losses due to unlawful acts in the form of land grabbing, the most appropriate compensation is the return of the Plaintiff’s condition to its original state.&lt;/p&gt;

CEO excess compensation: the impact of compensation committee quality and corporate social responsibility

ABSTRACT This study examines whether compensation committee quality and corporate social responsibility are related to CEO excess compensation. Using a U.S. sample from 2008 to 2013, this study finds that high-quality compensation committees can design compensation arrangements that limit CEOs’ ability to extract excessive compensation. Furthermore, according to this study, CEOs tend to overinvest in corporate social responsibility in order to extract extra compensation.

Top Management Team Incentive Dispersion and Earnings Quality*

ABSTRACTThis paper examines the relation between the dispersion in pay‐performance sensitivities (PPS) among top management team (TMT) members and earnings quality. Prior research suggests that the PPS from executives' equity compensation induce earnings manipulation incentives. Most of this research, however, focuses on the PPS of individual executives, even though the financial reporting process requires the coordination among a broad range of executives. Focusing on the dispersion in PPS among TMTs, we develop a model that shows that, due to the coordination incentives embedded in compensation arrangements, managers with more closely aligned PPS will be more willing to work together to manipulate earnings as the rewards are shared more evenly among them. We empirically test the implications from our model and find a positive relation between PPS dispersion and earnings quality. We further find that the stock price reaction to firms' reported earnings relates to the earnings manipulation incentives based on PPS dispersion. Our results suggest that differences in PPS among TMT members hamper the coordination necessary to manipulate earnings and that investors are aware of this impact. Our study has important implications related to compensation‐related disclosures (e.g., those under section 953a of the Dodd‐Frank Act of 2010) and their potential impact on investors' understanding of earnings quality.

An analysis of net-outcome contracting with applications to equity-based compensation

Options, restricted stock, bonuses tied to total shareholder return, and similar equity-based compensation contracts stipulate payments that depend on stock price. Any such contract is a function of shareholder value net of the compensation payment, because stock price (1) is proportional to this net value or “net outcome” and (2) anticipates compensation-related payments and dilution. The net outcome, in turn, is reduced by the payment and so depends on the contract. Standard moral hazard analyses, wherein contractual payments are based on the gross outcome before any payment to the agent, overlook this dependency. We characterize the optimal net-outcome contract, describe its shape and pay-for-performance sensitivity, contrast it with the optimal gross-outcome contract, and discuss implications for equity-based compensation arrangements.