Corporate Stakeholders and CEO-Worker Pay Gap: Evidence From CEO Pay Ratio Disclosure
In: Review of Accounting Studies, Forthcoming
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In: Review of Accounting Studies, Forthcoming
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In: Journal of Business Finance and Accounting, Forthcoming
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In: Cheng, M., Jaggi, J., and Young, S. 2021. Customer concentration of targets in mergers and acquisitions. Journal of Business Finance and Accounting (forthcoming).
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Working paper
This study explores the nature of the policy gap – the discrepancy between intended and actual policy outcomes – resulting from the implementation of Practical School (PS) policy in four Hong Kong Practical Schools during the 1990s. The study closely examines the complexity of the policy formulation and implementation processes, and finds that a number of factors at different policy levels served to divert PS implementation from its intended outcome. These factors can be grouped into two main categories – those that were specific to individual policy levels (e.g., policy orientation at the Education Department (ED) level, institutional autonomy at the School Sponsoring Body (SSB) level, or principal leadership at the (school) level, and those relating to the interdependent relationships existing between and among the various levels. The factors in these categories interacted to shape and modify PS policy implementation, making the policy-practice relationship complex and unpredictable. Thus, this study suggests that policy gap can be seen as the outcome of the multilevel, intertwined interplay among policy implementation actors from various policy levels. This study also proposes that the observed policy gap was not necessarily undesirable; in fact, the modification of original implementation plans prevented, in some instances, overall policy failure. In the case of PS, modified policy implementation allowed all four Practical Schools to achieve certain policy goals, despite failing to achieve others. This study has found that whether a policy gap was perceived as desirable depended on how the modified implementation affected the interests of the various parties; thus, any given policy gap could be called undesirable, desirable, or both, depending on which party were asked. Finally, this study is particularly concerned with the views of policymakers, senior SSB administrators and principals, and their actions in response to policy demands. The study argues that policy gap varied depending on policymakers' perceptions of the policy, the organizational characteristics of SSBs, and the contextual nature of the schools. In other words, whether implementation realized intended policy outcomes depended on how implementing actors interacted to steer policy either towards or away from its original course. ; published_or_final_version ; Education ; Doctoral ; Doctor of Philosophy
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The association between corporate governance and firm value has been extensively studied in Chinese listed firms. Based on the characteristics of their ultimate shareholders, Chinese listed firms can be categorised as (1) central state-controlled, (2) local state-controlled or (3) non-state-controlled. Some scholars have described Chinese government policy as "zhuada fangxiao", thus suggesting that the corporate governance mechanisms (CGMs) of central state-controlled listed firms (SCLFs) are better than those of local state-controlled listed firms. Therefore, this paper specifically examines the influence of CGMs on the value of central SCLFs and local SCLFs. Analysis of 2006 firm-year observations from 2007 to 2009 suggests that the aggregate ownership of other large shareholders and the remuneration of top executives exhibit different effects on firm value in central and local SCLFs. The results also provide evidence that there is no endogenous effect of firm value on the ownership of the largest shareholder in central and local SCLFs.
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In: Korean journal of policy studies: KJPS, Band 25, Heft 1, S. 193-210
"There are two kinds of truth: extensional (objective) and intentional (subjective). Western culture has traditionally foregrounded extensional truth, while Chinese culture has focused on intentional truth. This paper focuses on intentional truth, which has not been given sufficient attention in the study of public administration. Action knowledge is more valuable than a science of administration, and we need to develop it. All learning takes place inside individuals, so all organizational learning is individual learning. Meanwhile, tacit knowledge must be made explicitly before it can be gainfully deployed. An organization's competitiveness depends on its tacit knowledge, not its explicit knowledge, and the same is true of public administration. This paper uses hermeneutical methods to analyze the meaning of administrative action in organizations from different cultural viewpoints. To deal with the global economic crisis, it is important to develop action knowledge to support theories of how financial crises develop and how they could be avoided, so as to reform the institutionalized paradigm of public administration and governance and to cooperate in dealing with the economic crisis."
In: Emerging markets, finance and trade: EMFT, Band 43, Heft 1, S. 74-97
ISSN: 1558-0938
In: Journal of Accounting & Economics (JAE), Forthcoming
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The detection of α particles is of great significance in military and civil nuclear facility management. At present, the contact method is mainly used to detect α particles, but its shortcomings limit the broad application of this method. In recent years, preliminary research on noncontact α-particle detection methods has been carried out. In this paper, the theory of noncontact α-particles detection methods is introduced and studied. We also review the direct detection and imaging methods of α particles based on the different wavelengths of fluorescence photons, and analyze the application and development of this method, providing an important reference for researchers to carry out related work.
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In: British journal of visual impairment: BJVI, Band 33, Heft 3, S. 220-226
ISSN: 1744-5809
There are 34,492 registered with severe or partial sight impairment in Scotland, with 75% aged over 65. With the ageing population, the proportion of those who will develop sight impairing disease will only increase. Therefore, early presentation and treatment are important. Recently, new sight saving treatments and community screening programmes for sight impairing disease have been introduced with concomitant advance in ophthalmic digital imaging. In order to assess older patients' attendance of free eye tests, awareness of different sight impairing disease and treatments. We describe the first electronic visual healthcare system within any global public healthcare service – 'The Scottish Eyecare Integration Project' – and potential improvements along with the General Ophthalmic Service (GOS) contract. A 14-point questionnaire was devised to assess 100 patients' awareness of free annual eye tests, and the three most common causes and treatment for severe sight impairment: age-related macular degeneration (ARMD), glaucoma, and diabetic retinopathy (DR). In all, 82% of patients were aware of the free annual eye tests; however, 31% had not attended community optometrist for over 2 years. There was good awareness of glaucoma (77%), but poor understanding of glaucoma treatment (24%), ARMD (43%) and ARMD treatment (17%). Only 39% of patients had heard of free annual DR screening, but there was a significant difference between the two groups ( p = .0263), with increased awareness in the middle-aged group. More education is required to encourage the older population to use existing and new eye services. The Scottish Eyecare Integration Project along with the GOS contract is a significant step of change towards meeting the demand for a multidisciplinary approach, bringing ophthalmic care closer to home and into the community.
In: Journal of managerial psychology, Band 20, Heft 5, S. 380-396
ISSN: 1758-7778
PurposeTo report on the development of a new, more balanced approach to managing the performance of key employees in project‐based organizations.Design/methodology/approachFollowing the establishment of the role‐based criteria for performance excellence through focus groups and subsequent factor analysis, performance profiles of a range of superior and average performing managers were compiled. These were based on behavioural event interviews (BEIs) from which job, person and role‐based aspects were derived. The final performance model was validated through assessments with an expert panel of HRM specialists.FindingsThis research has developed and demonstrated the potential of a more holistic approach to managing performance which includes reference to the job requirements, personal behaviours and the role context. It was found to be particularly suitable to measuring managers' performance in dynamic team‐based environments.Research limitations/implicationsThe empirical work upon which the new performance framework is based was derived from a limited study within two construction organizations. Future work will explore the applicability of the approach within other organizations and industries.Practical implicationsApplying this framework to key HRM activities has the potential to improve the ways in which companies manage, develop and retain their key managerial resources. Notably, they should be able to engender a more participative, developmental approach to the HRM function, thereby helping to ensure sustained performance improvements in the future and improved resource usage effectiveness.Originality/valueThe paper presents the basis for a completely new performance management paradigm which embeds managerial competence/competency in a way which more accurately reflects the realities of managerial practice.
In: JECE-D-22-00059
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