This paper studies a unique phenomenon in China's corporate governance—that chief audit executives (CAEs) sit on supervisory boards (CAE duality)—and examines its effects on executive compensation contracts. Using a sample of listed firms between 2010 and 2018, we find a significant positive relation between CAE duality and pay-for-performance sensitivity, which suggests that the dual position helps integrate monitoring resources and reduces agency costs. This positive relation is more pronounced when companies face a stricter monitoring environment and in non-state-owned enterprises (non-SOEs) than in SOEs. In addition, we find that the recent reforms on compensation strengthen the role of CAE duality in SOEs. Further analysis identifies the reliability of performance information (i.e., earnings quality) and reduced executive self-interested behaviours (i.e., perquisite consumption) as the influencing mechanisms that increase the demand for performance-based compensation and thus improve pay-for-performance sensitivity. 相似文献
ABSTRACTMany management and leadership studies have traditionally been dominated by Western theories, perspectives and cases. Non-Western leadership requires additional caveats in arriving at generalizations. The theoretical trap of conceiving Asian corporations either as irrelevant concerning leadership effectiveness or as maintaining only culturally determined leadership derives from the lack of historical understanding of Asian cases. Our collection used both historical and contemporary cases of Japan, South Korea and China to show that these Asian economies have tried to some extent balance their traditional norms and values of leadership with those from the West. A key to understanding Asia is that all three countries have historically pursued leadership mandates in running both public and private corporations, although ‘corrupt’ leadership practices were also rampant during different historical periods. Further studies of leadership in non-Western cases are necessary to devise methodological and theoretical alternatives to Western-centric perspectives. In our collection, we analysed how a dynamic and evolutionary view of leadership fared in its attempt to clarify some of the conundrums surrounding East Asian leadership. From our results, it is indicated that historical and comparative methods must accompany any analysis of leadership. 相似文献
AbstractThe Single Supervisory Mechanism (SSM) is an administrative arrangement of national assistance to the ECB in exercising its exclusive supervisory competence. It sets two systems of assistance: ECB Direct Supervision (for large banks) and Indirect Supervision (for smaller and medium-sized banks) supervision. This paper analyzes dynamics between the ECB Banking Supervision as the principal and NCAs as its agents in the system of ECB Indirect Supervision. It identifies six formal (statutory) accountability and control mechanisms which are put at the ECB’s disposal to monitor the way how the NCAs carry SSM supervisory tasks when exercising the ECB’s exclusive supervisory competences under the SSM Regulation. 相似文献
Purpose: The purpose of this study is to develop a model of motives and career choice based on learning styles in order to apply the model in teaching business. Although the relationship between learning and McClelland’s (1961) three motives (achievement, affiliation, and power) as confirmed that motives are “learned,” little research has examined if learning styles are the key factor to classify motivation into three different implicit motives and whether those motives affect students’ career choice.
Design: The article first examines the Kolb’s (Kolb, 1984, 1999; Kolb & Kolb, 2005) learning styles including active experimentation (AE), reflective observation (RO), abstract conceptualization (AC), and concrete experience (CE). It then measures the learning styles and Holland’s (1985) six career types including realistic, investigative, artistic, conventional, enterprising, and social by the three McClelland (1985) motives including achievement, power, and affiliation using Linguistic Inquiry and Word Count (LIWC) 2015 software (Pennebaker, Booth, Boyd, & Francis, 2015). Finally, the article compared the factors of learning styles and career types against each other based on the three motives in order to discuss the teaching strategies for students in their career choice.
Methodology: The study has used LIWC 2015 (Pennebaker et al., 2015) software to find the scores of achievement, power, and affiliation motives in the four Kolb’s learning styles (Kolb, 1984, 1999; Kolb & Kolb, 2005), and the six career interests (Holland, 1985). Correlation analysis was conducted among the motive values to find the relations among the learning styles, motives, and career choice.
Findings: (a) The two learning styles of AC and AE stimulate the need for achievement; (b) the learning style of RO stimulates the need for power; (c) the learning style of CE stimulates the need for affiliation; (d) people with a high achievement motive would be fit in artistic, investigative, and realistic careers; (e) people with a high power motive would be fit in conventional and enterprising careers; (f) people with a high affiliation motive would be fit in a social career.
Originality of the research: Efficient teaching techniques applied based on the study findings indicate that (a) teaching high achievement students will use more challenge techniques such as assignments and projects for thinking and doing training, (b) teaching high power students will use more control techniques such as discussions and presentations for observation training, and (c) teaching high affiliation students will use more socially oriented techniques such as writing tasks for emotion training. 相似文献
Understanding consumer decision-making (CDM) styles is essential for market segmentation, positioning and crafting marketing strategies within a market. Few studies have examined the structural relationship among decision-making styles that consumers exhibit during mall shopping, level of satisfaction and purchase intention. The purpose of this study was to examine CDM styles as the antecedents and predictors of level of satisfaction and purchase intention. Based on the Consumer Styles Inventory, eight CDM styles that individual exhibit during shopping mall activities are proposed in terms of utilitarian and hedonic perspectives. We hypothesize these eight CDM styles as a set of predictors of customer satisfaction and purchase intention. A total of 327 valid paper-and-pencil questionnaires were collected from several shopping malls in Kuala Lumpur, Malaysia. Partial least squares (PLS) path modelling approach, a structural equation modelling (PLS-SEM) technique was performed to test the proposed structural relationships. The empirical assessment supports that hedonic shopping styles consumers that exhibit high level of habitual, brand consciousness, fashion consciosness, recreational conscious style have lower levels of satisfaction and purchase intention during mall shopping while novelty and fashion conscious style consumers have lower level of satisfaction but do not unveil lower purchase intention. Utilitarian shopping styles consumers that exhibit high level of price conscious, confused by overchoice and high-quality conscious style have higher levels of satisfaction while impulsive/careless shoppers do not; and while price conscious, impulsive/careless, confused by overchoice consumers have higher levels of purchase intention but the high-quality conscious consumers do not unveil higher purchase intention. Further, there is a positive relationship between satisfaction and purchase intention. The practical and managerial implications are discussed. 相似文献