Total Compensation Research Articles

CFO Compensation and Audit Fees

Executive compensation contracts may influence financial reporting quality, and the CFO plays a key role in preparing the financial statements. This study examines whether the structure and components of CFO compensation are associated with audit risk as measured by audit fees for a sample of S&P 1500 companies during the period 2012–2022. We find that the percentage of total compensation composed of either stock or options is significant and positively related to audit fees, while non-equity incentive plan compensation is significant and negatively related to audit fees. We also find that the dollar amount of equity compensation is significant and positively related to audit fees, while the dollar amount of non-equity compensation is not related to audit fees. These results suggest that CFO compensation structure is an important factor in the assessment of audit risk, which is important for compensation committees as well as regulators. This is the first study, to our knowledge, that examines the relationship between the dollar amount and composition of CFO compensation and audit fees.

Non financial rewards for HRM in tech companies

Purpose: This research study aims to determine the importance of non-financial rewards as an element of total compensation and its relationship to human resource management mediated by the relationship of strategic corporate governance in the technology sector.Design/methodology/approach: A quantitative approach of extrinsic and intrinsic non-financial rewards, human resource management and strategic management of the company has been carried out. To obtain the necessary data, self-administered questionnaire were used. The results obtained from a sample of 97 human resource managers in the technology sector proves the causal relationship between each type of non-financial reward and human resource management, as well as its link to the strategic management.Findings: Using Partial Least Squares Structural Equation Model (PLS-SEM), significant relationships occur between human resource management and strategic management, followed by the relationship between human resource management and intrinsic rewards. A significant relationship exists between human resource management and direct and indirect intrinsic rewards through strategic management. In turn, only an indirect relationship exists between human resource management and extrinsic non-financial rewards through strategic management, but there is no direct relationship.Originality/value: These findings are highly important for human resource management, since it could allow the development of new compensation strategies with non-financial rewards under strategic management helping technology companies to generate competitive advantage by means of the same.

The effect of addback statutes on CEO compensation

AbstractExploiting the adoption of addback statutes, which occurred at different times, as exogenous shocks to corporate taxable income, we examine the effect of tax policy changes on the compensation of chief executive officers (CEOs). We provide evidence that CEOs of firms headquartered in states affected by addback statutes experienced a decrease in total compensation; the decrease is stronger for firms with higher intangibles and asset replacement costs relative to book values, and weaker for firms whose CEOs are more powerful. Our results have important implications for policy‐makers who strive to combat pay inequality and managerial myopia through tax laws.

Does Stakeholder Outrage Determine Executive Pay?

Abstract An unprecedented number of firms announced CEO salary reductions at the onset of the coronavirus pandemic. We document that the total compensation for these CEOs did not actually decrease but was instead restructured, leading to a marked increase in opaque components of compensation. These adjustments align with the managerial power view of executive pay setting, whereby heightened stakeholder outrage prompts greater camouflaging of compensation to avoid scrutiny. We further show that this pattern of compensation adjustments predominantly occurred in firms with powerful CEOs, weak institutional investor monitoring, and poorer governance quality.

Floods in the Pyrenees: a global view through a regional database

Abstract. This paper shows the first systematic dataset of flood episodes referring to the entire Pyrenees massif, named PIRAGUA_flood, which covers the period 1981–2015 (available at http://hdl.handle.net/10261/270351, last access: 21 July 2024). First, the structure of the database is detailed so that it can be reproduced anywhere else in the world, adapting to the specific nature of each situation. Subsequently, the paper addresses the spatial and temporal distribution of flood episodes and events (including trends) that affected the Pyrenees regions of Spain (Catalonia, Aragon, Navarre, the Basque Country), France (Nouvelle-Aquitaine, Occitanie) and Andorra, as well as the massif as a whole, for a given period of time. In the case of the Spanish regions, it was also possible to analyse the compensation payments by the Spanish Insurance Compensation Consortium and the number of deceased. The weather types associated with flood episodes were also classified based on sea level pressure and 500 hPa geopotential height from ERA5. The results show 181 flood events and 154 fatalities, some of which affected more than one region. In the Spanish part of the Pyrenees, between 1996 and 2015, there was a total compensation payout amounting to EUR 142.5 million (2015). The eastern part of the area records more flood events than the western one, with Catalonia being the community that registered the highest number of events, followed by Andorra and Occitanie. Associated weather types are dominated by the southern component flow over the Pyrenees region, with a talweg on the Iberian Peninsula and a depression in the vicinity, either in the Atlantic or in the Mediterranean. In terms of the entire massif, there is a slight positive trend of 0.84 events per decade, driven by the evolution of ordinary and extraordinary floods but not significant at 95 %. At a regional level, flood behaviour is more heterogeneous, although not significant for the most part. Nouvelle-Aquitaine is the only region that shows a positive and significant trend of 0.34 events per decade.

For the Love of the Game: Calculating the Premium Associated With Academic Surgical Practice.

We sought to determine the premium associated with a career in academic surgery, as measured by compensation normalized to the work relative value unit (wRVU). An academic surgical career embodying innovation and mentorship offers intrinsic rewards but is not well monetized. We know compensation for academic surgeons is less than their nonacademic counterparts, but the value of clinical effort, as normalized to the wRVU, between academic and nonacademic surgeons has not been well characterized. Thus, we analyzed the variations in the valuation of academic and nonacademic surgical work from 2010 to 2022. We utilized Medical Group Management Association Provider Compensation data from 2010, 2014, 2018, and 2022 to compare academic and nonacademic surgeons. We analyzed raw total cash compensation (TCC), wRVU, TCC per wRVU (TCC/wRVU), and TCC to collections (TCCtColl). We calculated collections per wRVU (Coll/wRVU). We adjusted TCC and TCCtColl for inflation using the Consumer Price Index. Linear modeling for trend analysis was performed. Compared with nonacademic, academic surgeons had lower TCC (2010: $500,415.0±23,666 vs $631,515.5±23,948.2, -21%; 2022: $564,789.8±23,993.9 vs $628,247.4±15,753.2, -10%), despite higher wRVUs (2022: 9109.4±474.9 vs 8062.7±252.7) and higher Coll/wRVU (2022: 76.68±8.15 vs 71.80±6.10). Trend analysis indicated that TCC will converge in 2038 at an estimated $660,931. In 2022, academic surgeons had more clinical activity and superior organizational revenue capture, despite less total and normalized clinical compensation. On the basis of TCC/wRVUs, academia charges a premium of 16% over nonacademic surgery. However, trend analysis suggests that TCC will converge within the next 20 years.

Identification of Ecological Compensation Zones and Compensation Amounts: A Case Study of the Yellow River Delta

Accurately identifying ecological compensation areas and scientifically determining appropriate compensation amounts are crucial for establishing a robust ecological compensation mechanism, which in turn is key to promoting the coordinated development of ecological protection and high-quality economic growth. This study innovatively proposes a framework for ecological compensation termed “Accounting of Ecosystem Services Value–Identification of Priorities for Payers and Recipients–Calculation of Ecological Compensation Amount (ESV–PPR–ECA)”. It utilizes the InVEST model and the emergy method to assess the value of ecosystem services, constructs the Ecosystem Payment and Recipient Priority Sequence (EPRPS) Model to identify the payers, recipients, and their priorities for ecological compensation, and employs the conversion factor method to calculate the Ecological Compensation Amount (ECA). This framework aims to address the questions of “How should compensation be provided?”, “Who should compensate whom?”, and “How much compensation is necessary?”, ensuring the optimal use of ecological compensation funds and providing a scientific basis for inter-regional ecological compensation. The study’s findings indicate that the total Ecological Compensation Amount for the Yellow River Delta in 2020 was 3.848 billion RMB, with the total amount receivable being 4.032 billion RMB and the total amount payable being 184 million RMB. The compensation funds should be prioritized for tideland and the Yellow River, and venture, cropland and industrial land should be the first to contribute compensation. Additionally, the Ecosystem Service Value of the Yellow River Delta showed a declining trend from 2015 to 2020, underscoring the urgent need to establish a horizontal compensation mechanism for the region. Such a mechanism would incentivize environmental protection and the construction of ecological civilization, ultimately enhancing ecosystem service functions. Therefore, we recommend the implementation of horizontal fiscal transfers, where financial assistance is provided from paying areas to recipient areas, offering a scientific reference for the establishment of a horizontal compensation mechanism within the Yellow River Delta.

Do Vaccines Cause Postural Orthostatic Tachycardia Syndrome? Review of Cases in the National Vaccine Injury Compensation Program

BackgroundThe National Childhood Vaccine Injury Act of 1986 created the National Vaccine Injury Compensation Program (VICP), a no-fault alternative to the traditional tort system. Since 1988, the total compensation paid exceeds $6 billion. Although postural orthostatic tachycardia syndrome (POTS) is a frequent reason for filing a claim, there has been no review of the process and validity of the legal outcomes given current medical information. The purpose of this study was to review vaccine-related POTS and assess the rationale behind decisions made by the court. MethodsWe identified 102 unique cases with POTS. All published reports were reviewed for petitioner's theories supporting vaccine-induced POTS, respondent's counterarguments, the final decision regarding compensation, and the rationale underlying these decisions. The primary goal was to determine which factors went into decisions regarding whether vaccines cause POTS. ResultsIn deciding the cases the Special Masters hearing the cases place a high reliance on expert witnesses for both the petitioners and respondents. Petitioners’ experts frequently implicated vaccines, primarily human papillomavirus vaccine, as causing POTS through autoimmunity induced by molecular mimicry. However, in none of the 102 cases was POTS considered to be directly caused by a vaccine. ConclusionsDespite the lack of epidemiologic or mechanistic evidence indicating that childhood vaccines covered by the VICP result in POTS, these cases continue to be adjudicated, at considerable cost to the government. Unless there is emerging scientific support for implicating vaccines in POTS it is time that the VICP stop considering these cases.

Are Mondays different? Evidence from initial public offerings

This paper investigates how and why initial public offerings (IPOs) issued on Mondays differ from those on other days. We provide evidence that Monday IPOs make a significantly larger number of filing price amendments during the road show and set offer prices that exceed the filing price range, resulting in higher positive offer price revisions. We also find that Monday IPOs receive less analyst coverage than other-day IPOs, despite their underwriting fees being the same and their total underwriter compensation being higher. Therefore, Monday IPOs are more likely to change lead underwriters in subsequent equity offerings and have a higher risk of delisting as aftermarket support and maintaining good relations with investment banks are critical for their long run survival. We also investigate why underwriters issue IPOs on Mondays. We suggest four possible explanations for Monday IPOs and find indirect evidence that supports the deliberate road show extension explanation.

CEO compensation risk and pay for luck asymmetry

Purpose This study aims to examine the effect of CEO compensation risk, as measured by the proportion of equity-based pay (option and stock awards) relative to total compensation and pay sensitivity to stock volatility, on CEO pay for luck asymmetry. This paper also empirically examines CEO compensation risk as a mediating variable between the regulatory changes and CEO pay for luck asymmetry. Design/methodology/approach This paper test the proposed two hypothesis that CEO compensation risk is positively associated with the degree of CEO pay for luck asymmetry; and the pay related regulations implemented around 2006 could mitigate the degree of CEO pay for luck asymmetry using the fixed-effects regression models. Findings Consistent with the managerial talent retention hypothesis, this paper finds that CEO compensation risk, as measured by the equity-based pay as a proportion of CEO total compensation and CEO pay sensitivity to stock volatility, is positively associated with the degree of CEO pay for luck asymmetry. In addition, this paper find that CEO pay for luck asymmetry is significantly reduced by the major regulatory changes on executive compensation implemented around 2006. Research limitations/implications This study is among the very few studies exploring the impact of CEO compensation risk on pay for luck asymmetry in the literature. While the major purpose of the widely used stock options is to align executive interests and shareholder values, it also tends to increase the risk level of CEO compensation. So, a well-designed CEO pay package should protect risk-averse CEOs from bad luck for the retention purpose, which is also beneficial to shareholder wealth maximization. Therefore, future research on executive compensation needs to examine the issue from various perspectives. Practical implications For board of directors who is responsible for the compensation of CEOs, it is necessary to consider a broad range of factors when designing an optimal CEO pay package. Social implications The findings on the impact of regulations on CEO pay for luck asymmetry suggest that the executive-pay-related regulations around 2006 have indeed achieved some of their intended goals to significantly lower pay for nonperformance asymmetry, whereby CEO pay sensitivity to stock volatility has been identified as a major mediating variable. Originality/value This study contributes to the literature on executive pay for luck asymmetry in several perspectives. First, this paper finds that CEO compensation risk has a positive impact on the degree of CEO pay for luck asymmetry. Second, this paper finds that the CEO pay for luck asymmetry has been mitigated after 2006 when various regulatory changes on executive compensation began to be implemented in the USA. To the best of the authors’ knowledge, this study is among the very few studies investigating these issues in the literature.

Thomson/Joule Power Compensation and the Measurement of the Thomson Coefficient.

The energy transported by the electric current that circulates a thermoelectric element (TE) varies with position due to the Joule and Thomson effects. The Thomson effect may enhance or compensate the Joule effect. A method for measuring the Thomson coefficient of a TE is presented. This method is based on the total compensation of the Joule and Thomson effects. The electric current then flows without delivering power to the TE or absorbing power from it. For a TE, the global Thomson/Joule compensation ratio Φ¯T/J is defined as the ratio of the power absorbed by the current due to the Thomson effect and the power delivered by the current to the TE due to the Joule effect. It can be expressed as Φ¯T/J=I0/I, where I is the electric current and I0 is the zero-power current, a quantity that is proportional to the average Thomson coefficient. When I=I0, the Thomson effect exactly compensates the Joule effect and the net power delivered by the current to the TE is zero. Since the power delivered by the current is related to the temperature distribution, temperature measurements for currents around I0 can be used as the basis for a measurement technique of the Thomson coefficient. With varying current, the difference between the temperature at the center of the TE and the mean temperature between its extremes reverses its sign at the zero-power current, I=I0. This observation suggests the possibility of measuring the Thomson coefficient, but a quantitative analysis is needed. With calculations using the constant transport coefficients model for Bi2Te0.94Se0.063 and Bi0.25Sb0.752Te3, it is theoretically shown that a null temperature detector with a sensitivity of the order of 1 mK allows for the accurate determination of the Thomson coefficient.

Evaluation Method for Voltage Regulation Range of Medium-Voltage Substations Based on OLTC Pre-Dispatch

A new energy industry represented by photovoltaic and wind power has been developing rapidly in recent years, and its randomness and volatility will impact the stable operation of the power system. At present, it is proposed to enrich the regulation of the power grid by tapping the regulation potential of load-side resources. This paper evaluates the overall voltage regulation capability of substations under the premise of considering the impact on network voltage security and providing a theoretical basis for the participation of load-side resources of distribution networks in the regulation of the power grid. This paper proposes a Zbus linear power flow model based on Fixed-Point Power Iteration (FFPI) to enhance power flow analysis efficiency and resolve voltage sensitivity expression. Establishing the linear relationship between the voltages of PQ nodes, the voltage of the reference node, and the load power, this paper clarifies the impact of reactive power compensation devices and OLTC (on-load tap changer) tap changes on the voltages of various nodes along the feeder. It provides theoretical support for evaluating the voltage regulation range for substations. The day-ahead focus is on minimizing network losses by pre-optimizing OLTC tap positions, calculating the substation voltage regulation boundaries within the day, and simultaneously optimizing the total reactive power compensation across the entire network. By analyzing the calculated examples, it was found that a pre-scheduled OLTC (on-load tap changer) can effectively reduce network losses in the distribution grid. Compared with traditional methods, the voltage regulation range assessment method proposed in this paper can optimize the adjustment of reactive power compensation devices while ensuring the voltage safety of all nodes in the network.

Internal versus external CEO hires: key differences

PurposeHistorically, most CEOs were promoted from within the organization. The internal candidates offer continuity, are well known to the Board, and have deep institutional knowledge. However, if the Board is seeking changes to the firm’s strategy, operations, or culture, they turn to outside candidates with proven track records. Shareholders react positively to the announcement of an external successor but the longer-term evidence on the performance front is mixed. Most empirical studies have tended to focus on a narrow aspect of the hiring choice, whereas we undertake a more holistic examination involving various elements.Design/methodology/approachWe consider the salience of the CEO hiring choice from several perspectives: educational background, gender, compensation, and firm performance. We use a propensity score matching approach to ensure comparability between internally promoted and externally hired CEOs. The observed covariates for the matching algorithm include firm size, CEO tenure, and industry sector.FindingsWe find that external CEOs are significantly more likely to have received their undergraduate degree from an elite institution, majored in a STEM discipline, and earned an MBA credential. They earn higher total compensation (with a higher proportion of equity-linked performance pay) but do not outperform in terms of the ROA or Tobin’s Q metrics. Gender does not appear to play a distinguishing role in the internal versus external hiring choice. We also do not detect significant differences in firm performance outcomes associated with educational pedigree, a STEM education, or an MBA credential, whether the CEO is internally promoted or hired externally.Originality/valueOur paper contributes by providing novel evidence on the impact of educational background on external CEO hiring decisions. Our findings carry implications for testing hypotheses stemming from signaling theory and exploring the significant role of social networks associated with elite educational institutions. Also, the finding that externally appointed CEOs do not outperform their internally promoted counterparts may be noteworthy for corporate boards' hiring committees, especially when reviewing candidates who are edge cases.

Surgical Cancellations and Postponements by Surgeon and Patient Sex: A Retrospective Cohort Study in Alberta, Canada.

The objective of this work was to estimate the association between surgeon sex with surgical postponements or cancellations. Female surgeons receive lower hourly, per patient, and total compensation than their male colleagues. Bias in the decision to postpone or cancel surgical cases may contribute to compensation inequality, since this results in unpaid surgeon time. This retrospective cohort study used administrative health data to identify surgeries performed at four hospitals in Calgary, Alberta, Canada that were cancelled or postponed due to surgeon/operating room overbooking or to accommodate an emergency case between April 1, 2015, and March 31, 2020. Surgeries performed in dedicated operating or procedure rooms (e.g., bronchoscopy, cardiac surgery, etc.) were excluded. The exposure of interest was surgeon sex, identified by matching their name to the provincial regulatory body record of self-identified sex, which allowed for selection between female and male only during the time of this study. There were 214,832 eligible surgical cases, of which 1,481 and 2,473 were postponed or cancelled due to overbooking and to accommodate an emergency, respectively. After adjusting for surgical specialty, whether the procedure was a day case, and for patient sex, female surgeons were more likely to be cancelled or postponed to accommodate an emergency case compared to male surgeons (odds ratio [OR] 1.21, 95% confidence interval [CI] 1.05-1.38). There may be sex-bias in the decision about which surgical cases to postpone or cancel to accommodate emergency surgeries in our setting. This bias may contribute to compensation inequality in a fee-for-service setting.

Efficacy of McKenzie, Maitland Mobilisation and Myofascial Release in Chronic Low Back Pain

Objective: To compare the effectiveness of Myofascial Release, Mc Kenzie and Maitland Mobilisation in Chronic Low back Pain and find out the effects of Myofascial Release, Mc Kenzie and Maitland Mobilisation in Chronic Low back Pain. Background: Low back pain is defined as the pain that occurs in an area with boundaries between the lowest rib and the crease of the buttocks. It is one of the most common complain of working-age population. Low back pain is associated with deconditioning of spine and trunk due to lack of core strength and stability in which 60-80% of general population suffer with high recurrence rates of 60 - 85% within following three years. The global prevalence of LBP as 7.3%. Activities that are required for daily living are affected because of LBP. The significance of disability is created because of LBP. The lumbosacral, sacroiliac and lumbar regions are the main regions of LBP. Pain in the back region that lasts for more than three months is called chronic lower back pain (CLBP). Lower?back pain (LBP) is seen in all age groups. Half of the people encounter back pain in a year and nearly three-fourths of the population account for LBP in their lifetimes. It is one of the most disabling factors often preventing sports person for participation in sporting activities. In United States, the workers compensation claims account for about one fourth of all claims and one third of total compensation costs. It results in about 40% of absences from work. In total spinal pain cases low back pain accounts for 60-70%.Chronic Low back pain is the pain that persists longer than the expected time period for healing, with a duration of more than three months. The natural course of most low back pain is of self-limiting in nature, with vast majority of individuals improving within six weeks or less. Study design: Experimental study Methods: 51 subjects were selected through convenient sampling. All the subjects who were diagnosed with chronic low back pain from Orthopaedics OPD was referred to physiotherapy department and was screened and assessed according to inclusion and exclusion criteria. The eligible subjects were approached with proposal of the study. Aim and procedure of the study was explained to the subject and a written informed consent was taken from them in their preferred language. At first the demographic data (age, sex, duration) was collected forever subject. Then the baseline data (pre intervention) of CLP intensity, functional disability was taken before commencement of the study. Then the subjects were randomly allocated each 17 subjects. A final data of pain intensity, functional disability was recorded. Results: For all the outcome measures, no significant difference results were found for all three techniques. Whereas, Mc Kenzie techniques is the most effective and the least effective is Maitland Mobilisation. Mean Improvement calculated as Pre- post values of VAS and RMQ scores at follow-up on 7th and 14th day was compared between the 3 techniques. Its significance was tested by testing whether the 95% CI of the mean improvement included 0 or not. Mckenzie techniques howed maximum improvement 4.68 (2.29, 7.07) on Day 7th and Maitland mobilisation the least improvement, 1.56(0.95, 2.93). Improvement by all techniques was significant at 95% CI using paired t test. However, on day 14th McKenzie showed maximum improvement 5.56(2.72, 7.07)) Maitland mobilization remaining the least effective. Conclusion: LBP is a common condition and all age groups are facing it. Pain can be due to various causes and the line of treatment depends upon the cause of pain. In this review, we found out that LBP is a condition everyone is facing. Mc Kenzie is a better treatment approach over other two techniques to reduce chronic LBP. Pain and disability were the points considered while concluding. LBP affects the quality of life and to maintain or improve the quality of life strengthening the muscles plays an important role. This review gives a brief about the treatment methods available for treating CLBP clinically. Hence physiotherapy treating subjects with chronic low back pain may choose any one technique but Mc Kenzie Technique is the most effective technique for pain and for functional disability in CLBPis the most effective. However sufficient experience and expertise is necessary. Key words: Chronic Low Back Pain, Mc Kenzie, Maitland Mobilisation, Myofascial Release, VAS, RMQ

Performance measure skewness and the structure of CEO compensation: Theory and evidence

AbstractWhile research has analyzed how the structure of incentive pay relates to the dispersion of the performance measure distribution, as measured by its variance or volatility, we examine how it relates to the asymmetry of the distribution, as measured by its skewness. In contrast to the variance, skewness affects the relative informativeness of high and low performance about the agent's effort, which determines the relative efficiency of providing rewards and punishments for incentive purposes. Therefore, skewness is an important determinant of compensation convexity, which is determined by the relative holdings of stock and options. Consistent with our analytical and numerical results, we find that the skewness of expected earnings is negatively associated with the convexity of CEO compensation. Our results are economically significant, robust to alternative specifications, and do not appear to be driven by reverse causality. In addition, we find that earnings skewness is negatively associated with total CEO compensation and that this association is driven by lower options‐based compensation. These findings are consistent with CEOs preferring positively skewed performance metrics. Overall, we provide theoretical, numerical, and empirical evidence suggesting that skewness is a more important determinant of the convexity and structure of CEO compensation than volatility.

EXECUTIVE COMPENSATION AND FINANCIAL PERFORMANCE OF LISTED BANKS IN NIGERIA: MODERATING ROLE OF HUMAN CAPITAL

Objective: The study is on the role of human capital on the relationship between executive compensation and financial performance of banks in Nigeria from 2008 to 2022. The work studies the moderating role of human capital on the relationship between executive compensation and financial performance of listed banks in Nigeria. Method: In establishing the relationship, correlational research design was employed. The research encompasses listed banks in Nigerian for the period of study. Utilizing secondary data from annual reports and accounts, a panel regression was employed to test the hypotheses. The study was supported by pay-performance theory on the financial performance measure as NIM. Results: The findings reveal that highest paid director have a negative and significant relationship with financial performance of banks in Nigeria. In the same vein, the study establishes a positive relationship between total compensation and financial performance. However, human capital moderates the relationship between total compensation and financial performance of banks in Nigeria negatively. Conclusion: The study's findings yield recommendations for enhancing financial performance of Nigerian banks. There is need for control on executive compensation of banks as these are vital to the financial performance of banks in Nigeria.

Who affects CEO compensation? Firm performance, ownership structure, and board diversity

This paper examines the relation among firm performance, ownership structure, and board gender diversity on the firm board and CEO compensation, i.e., total compensation, salary-based compensation, and bonus-based compensation. The paper employs a unique dataset from S&P 1500 firms from 2007 to 2018. The empirical results suggest that large and diversified boards are the main determinants of CEO compensation, in line with the theory. Moreover, longer-tenured CEOs who also hold the board chairperson position receive greater compensation and bonuses than their peers. In addition, a firm financial performance affects CEO compensation, with the influence being more pronounced in the CEO's total compensation. This paper adds to the existing literature on CEO compensation, corporate governance, and board attributes, especially when revealing empirical support for the link between board diversity and CEO compensation against a strong demand for sound corporate governance practices.

집합건물의 대지에 대한 공유물분할 청구

The Site for condominium buildings was shared between those who had a section for exclusive possession in the building and those who did not, and the latter plaintiffs filed a claim for for Partition of the Site and a return of unjust enrichment. The court of first instance disallowed the claim for division by the co-owner in accordance with Article 8 of the ACT ON OWNERSHIP AND MANAGEMENT OF CONDOMINIUM BUILDINGS and only accepted the claim for return of unjust enrichment. However, the court of second instance and the Supreme Court recognized not only the claim for return of unjust enrichment but also the division method by total value compensation. This court decision can be judged positively in that the basis for the existence of the complex and living relationships can be maintained, and the dispute has finally been resolved. With this decision of the court, the prohibition of claim for partition by co-owner of site pursuant to the above provisions can no longer play a role. This is because the court is not bound by the division method of Article Jointly Owned, and, contrary to academic theory, considers division by total value compensation as a division in kind and is free from the restrictions of Article 269, Paragraph 2 of the Civil Act. In this case, the sectional owners refused to acquire ownership of the Site in question, but the court decided to divide by total value compensation, thereby acquiring the plaintiffs' shares and paying a considerable price for the shares. Since it is unfair to treat the division method by total value compensation as simply a division in kind. In order for the court to decide on this method, it must be subject to restrictions equivalent to splitting the price by official auction in accordance with the purpose of Article 269, Paragraph 2 of the Civil Act. In a case such as this, rather than resolving it as a problem of partition of article jointly owned, it would be desirable to resolve this issue legislatively so that people like the plaintiff can request that the sectional owners purchase their shares.

Evaluating the finances of a job offer

The finances presented by an employment contract include the wages offered plus the value of all employment benefits. This session covers the evaluation of a total compensation package against a detailed cost of living assessment to estimate the feasi­bility of an employment contract of providing a sound financial state.