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Author: Valentina Kozlova Publisher: ISBN: Category : Business logistics Languages : en Pages : 86
Book Description
This dissertation consists of two chapters that examine high managerial pay and supply chain uncertainty. Chapter 1 constructs a game-theoretic model in which high CEO pay emerges as the outcome of an arms race, with each firm paying its CEO highly to protect its competitive position against rivals who also pay highly. For an arms race to emerge, highly-paid CEOs must generate idiosyncratic, privately-known internal effects on profit, and CEO pay disparities must also generate asymmetric profit differences from external effects beyond the simple differences in pay. If the distribution of internal effects satisfies a key uniformity condition, an arms race emerges as the only equilibrium of the game. Chapter 2 examines the impact of supply chain uncertainty and ordering costs on trade. Importers hold safety stock to hedge against delays in delivery. An increase in supply chain uncertainty raises safety stocks, increases inventory costs, and reduces imports from locations with high delivery time uncertainty. An increase in order costs reduces a firm's shipping frequency and increases average inventory holding cost for the firm's base inventory stock. As a result, firms import less from locations with high ordering costs to reduce average inventory holding costs. Detailed data on actual and expected arrival times of vessels at U.S. ports serve to measure supply chain uncertainty consistent with the theory. Combined with detailed data on U.S. imports, freight charges and unit values, a 10 percent increase in supply-chain uncertainty lowers imports by as much as 3.7 percent. This is evidence that delivery uncertainty imposes a cost on imports according to the management of safety stocks. A one percent increase in ordering costs lowers imports by as much as 1.2 percent. Ordering costs impact the intensive margin of trade due to the management of base inventory stocks.
Author: Valentina Kozlova Publisher: ISBN: Category : Business logistics Languages : en Pages : 86
Book Description
This dissertation consists of two chapters that examine high managerial pay and supply chain uncertainty. Chapter 1 constructs a game-theoretic model in which high CEO pay emerges as the outcome of an arms race, with each firm paying its CEO highly to protect its competitive position against rivals who also pay highly. For an arms race to emerge, highly-paid CEOs must generate idiosyncratic, privately-known internal effects on profit, and CEO pay disparities must also generate asymmetric profit differences from external effects beyond the simple differences in pay. If the distribution of internal effects satisfies a key uniformity condition, an arms race emerges as the only equilibrium of the game. Chapter 2 examines the impact of supply chain uncertainty and ordering costs on trade. Importers hold safety stock to hedge against delays in delivery. An increase in supply chain uncertainty raises safety stocks, increases inventory costs, and reduces imports from locations with high delivery time uncertainty. An increase in order costs reduces a firm's shipping frequency and increases average inventory holding cost for the firm's base inventory stock. As a result, firms import less from locations with high ordering costs to reduce average inventory holding costs. Detailed data on actual and expected arrival times of vessels at U.S. ports serve to measure supply chain uncertainty consistent with the theory. Combined with detailed data on U.S. imports, freight charges and unit values, a 10 percent increase in supply-chain uncertainty lowers imports by as much as 3.7 percent. This is evidence that delivery uncertainty imposes a cost on imports according to the management of safety stocks. A one percent increase in ordering costs lowers imports by as much as 1.2 percent. Ordering costs impact the intensive margin of trade due to the management of base inventory stocks.
Author: Steffen Florian Burkert Publisher: BoD – Books on Demand ISBN: 3947095104 Category : Business & Economics Languages : en Pages : 233
Book Description
Top managers have a significant impact on organizations because they are responsible for the formulation and implementation of corporate strategies, have the visibility and influence to shape the opinions of internal and external stakeholders, and coin the culture of their organizations, affecting employees at every level of the organization. Research has focused on the drivers and consequences of top managers' actions, with a particular focus on executive compensation, but important questions remain unanswered. This dissertation contributes to the literature on top executives by examining the antecedents of executive compensation, the influence of executive compensation on executive behavior, and the interplay of executive compensation and top executive personality. The first study introduces the role of compensation benchmarking for determining executive compensation to the management literature. It finds that benchmarking leads to compensation convergence. The second study examines the impact of executive compensation complexity on firm performance. The results show that compensation complexity is negatively related to accounting-based, market-based, and ESG-based metric of firm performance. The third study explores the implications of relative performance evaluation (RPE) on the imitation behavior of firms. It finds that the introduction of RPE is positively related to the imitation of the strategic actions of peer firms. The fourth study contributes to the growing literature on the impact of corporate social performance (CSP) goals in CEO contracts. Specifically, it examines how and when CSP incentives influence the CEO's attention to corporate social responsibility topics. The final essay examines the role of CEO personality; it finds that differences in CEO personality explain differences in the level of strategic conformity. Taken together, the essays in this dissertation make a significant contribution to the scholarly discourse on the influence of top managers on their companies. The empirical evidence presented expands the current understanding of how top executives affect strategic firm behaviors, and it provides insights for policymakers, managers, and investors.
Author: Jiuping Xu Publisher: Springer ISBN: 3662472414 Category : Business & Economics Languages : en Pages : 1559
Book Description
This is the Proceedings of the Ninth International Conference on Management Science and Engineering Management (ICMSEM) held from July 21-23, 2015 at Karlsruhe, Germany. The goals of the conference are to foster international research collaborations in Management Science and Engineering Management as well as to provide a forum to present current findings. These proceedings cover various areas in management science and engineering management. It focuses on the identification of management science problems in engineering and innovatively using management theory and methods to solve engineering problems effectively. It also establishes a new management theory and methods based on experience of new management issues in engineering. Readers interested in the fields of management science and engineering management will benefit from the latest cutting-edge innovations and research advances presented in these proceedings and will find new ideas and research directions. A total number of 132 papers from 15 countries are selected for the proceedings by the conference scientific committee through rigorous referee review. The selected papers in the first volume are focused on Intelligent System and Management Science covering areas of Intelligent Systems, Logistics Engineering, Information Technology and Risk Management. The selected papers in the second volume are focused on Computing and Engineering Management covering areas of Computing Methodology, Project Management, Industrial Engineering and Decision Making Systems.
Author: Frank H. Knight Publisher: Cosimo, Inc. ISBN: 1602060053 Category : Business & Economics Languages : en Pages : 401
Book Description
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author: Richard E. Baldwin Publisher: ISBN: 9781907142239 Category : Business & Economics Languages : en Pages : 112
Book Description
The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.
Author: Albert Park Publisher: ISBN: Category : Business & Economics Languages : en Pages : 234
Book Description
The many manifestations of international production sharing have become the organizing theme for practically any discussion on production, trade, investment, development and international economic cooperation more generally. GVCs are at the economic heart of globalization. Policies of governments are central to outcomes, influencing the establishment, configuration and operation of GVCs in numerous ways. Technological possibilities and firm behaviour are also crucial determinants of what happens in the supply chain world. Global value chains (GVCs) have become ubiquitous. The literature that attempts to understand and explain GVCs is vast, multi-disciplinary and no less complex than the phenomenon itself. This volume is an ambitious attempt at a fairly comprehensive review of literature on the subject. --Publisher description.
Author: Deborah Kay Elms Publisher: ISBN: 9789287038821 Category : Business & Economics Languages : en Pages : 409
Book Description
A collection of papers by some of the world's leading specialists on global value chains (GVCs). It examines how GVCs have evolved and the challenges they face in a rapidly changing world. The approach is multi-disciplinary, with contributions from economists, political scientists, supply chain management specialists, practitioners and policy-makers. Co-published with the Fung Global Institute and the Temasek
Author: Valentina Kozlova
Author: Valentina Kozlova
Author: Steffen Florian Burkert
Author: Jiuping Xu
Author: 
Author: Frank H. Knight
Author: Richard E. Baldwin
Author: Albert Park
Author: 
Author: 
Author: Deborah Kay Elms