1 búsqueda de la palabra clave 'Globalization;'

Globalization and the provision of incentives inside the firm / Vicente Cuñat (Jan. 2009) 

Público ISBD Título : Globalization and the provision of incentives inside the firm : the effect of foreign competition Tipo de documento: documento electrónico Autores: Vicente Cuñat, Autor ; María Guadalupe, Autor Fecha de publicación: Jan. 2009 Número de páginas: 33 p. Il.: gráf., tablas Nota general: Trabajo premiado en el II Premio "Jaime Fernández de Araoz" sobre Corporate Finance (2007), patrocinado por Santander, Universia y Fundación Mutua Madrileña Idioma : Inglés (eng) Materias: Competencia internacional Personal directivo Política de incentivos Palabras clave: Incentives;  Performance-related-pay;  Wage  Structure;  Promotions;  Demand  for  talent;  Globalization;  Product  Market  Competition. Clasificación: 331.2 Salarios. Sueldos. Remuneraciones Resumen: This paper studies the effect of changes in foreign competition on the structure of compensation and incentives of U.S. executives. We measure foreign competition as import penetration and use tariffs and exchange rates as instrumental variables to estimate its causal effect on pay. We find that higher foreign competition leads to more incentive provision in a variety of ways. First, it increases the sensitivity of pay to performance. Second, it increases whithin-firm pay differentials between executive levels, with CEOs typically experiencing the largest wage increases, partly because they receive the steepest incentive contracts. Finally, higher foreign competition is also associated with a higher demand for talent. These results indicate that increased foreign competition can explain some of the recent trends in compensation structures. Nota de contenido: Bibliografía. Link: https://biblioteca.cunef.edu/gestion/catalogo/index.php?lvl=notice_display&id=23089 Globalization and the provision of incentives inside the firm : the effect of foreign competition [documento electrónico] / Vicente Cuñat, Autor ; María Guadalupe, Autor . - Jan. 2009 . - 33 p. : gráf., tablas. Trabajo premiado en el II Premio "Jaime Fernández de Araoz" sobre Corporate Finance (2007), patrocinado por Santander, Universia y Fundación Mutua Madrileña Idioma : Inglés (eng) Materias: Competencia internacional Personal directivo Política de incentivos Palabras clave: Incentives;  Performance-related-pay;  Wage  Structure;  Promotions;  Demand  for  talent;  Globalization;  Product  Market  Competition. Clasificación: 331.2 Salarios. Sueldos. Remuneraciones Resumen: This paper studies the effect of changes in foreign competition on the structure of compensation and incentives of U.S. executives. We measure foreign competition as import penetration and use tariffs and exchange rates as instrumental variables to estimate its causal effect on pay. We find that higher foreign competition leads to more incentive provision in a variety of ways. First, it increases the sensitivity of pay to performance. Second, it increases whithin-firm pay differentials between executive levels, with CEOs typically experiencing the largest wage increases, partly because they receive the steepest incentive contracts. Finally, higher foreign competition is also associated with a higher demand for talent. These results indicate that increased foreign competition can explain some of the recent trends in compensation structures. Nota de contenido: Bibliografía. Link: https://biblioteca.cunef.edu/gestion/catalogo/index.php?lvl=notice_display&id=23089

Ejemplares

Signatura	Medio	Ubicación	Sub-localización	Sección	Estado
ningún ejemplar

Documentos electrónicos

Acceso al documento completo Adobe Acrobat PDF