CEO tenure and the performance-turnover relation

In a broad cross-section of US firms, we document that the likelihood of a CEO’s performance-related dismissal declines in his tenure. This finding is consistent with both firm performance revealing information about a CEO’s uncertain executive ability and CEO tenure reflecting weak firm governance choices that reduce the likelihood of performance-related dismissal. In a sample of CEOs who begin their appointment during our sample period, we find evidence more broadly in favor of the former explanation. Specifically, we find that (1) CEO survival is associated with superior firm performance, (2) this relation is unaffected by firm governance choices, (3) the intensity with which a firm monitors its CEO declines over his tenure, and (4) firms’ monitoring intensity increases following CEO turnover. Collectively, our results suggest that periodic performance reports increasingly resolve uncertainty regarding executive ability, thereby lowering firm owners’ demand for monitoring their CEO over his tenure.     

The impact of just-in-time manufacturing on firm performance in the US

Just-In-Time manufacturing has been subjected to numerous studies both empirical and methodological. This work attempts to measure the impact of JIT on accounting measures of performance. Most technologies and investments are justified on the basis of their impact on financial and accounting measures which are not easily quantified. Our empirical methodology, simultaneous equation estimation, allows us to isolate the partial effects of JIT on various accounting measures thus gauging the true impact of this method on firm performance. Our results show that after JIT adoption firms reduced the labor content in facilities, increased inventory turnover and enhanced earnings. There was no significant impact on prices charged by the firm. These results support the anecdotal evidence on JIT and the theoretical work done by various authors. Even though the firms studied experienced a downturn in their performance our empirical methodology could identify positive benefits resulting from JIT adoption.     

Evaluating sustainable intensification and diversification options for agriculture-based livelihoods within an aquatic biodiversity conservation context in Buxa,West Bengal,India

Potential impacts of sustainable intensification and diversification options for agriculture-based livelihoods in Buxa, West Bengal, India, were evaluated using bioeconomic modelling. The baseline scenario involved multiple cropping seasons and a combination of crops on 0.9 ha land-holdings, livestock husbandry, and exploitation of common property resources. With capital costs of Rs.128,180 (US$2293) and annual operating costs of Rs.37,290 (US$667), the net benefit generated (excluding depreciation) was Rs.70,250 (US$1257) annually. The pay-back period was 1.8 years, and the internal rate of return (IRR) was 53.7% over 10 years. Allocation of 20 days annually to fishing increased the net benefit to Rs.75,030 (US$1342) and IRR to 56.5% with minimal added costs and risks. Adopting the system of rice intensification (SRI) for paddy cultivation on 0.35?ha increased the IRR to 61.1%, while reducing agrochemical and inorganic fertilizer use. Including small-scale fish culture in a 0.1 ha pond integrated in the irrigation scheme for SRI cultivation resulted in an IRR of 77.3% and reduced the pay-back period to 1.3 years. Some risks to biodiversity are apparent with each scenario; however, with appropriate safeguards, sustainable agricultural intensification and livelihoods diversification could bolster agrobiodiversity and social-ecological resilience of highland communities, while alleviating pressure on biodiversity.     

Nonprofit boards: Size,performance and managerial incentives

We examine relations between board size, managerial incentives and enterprise performance in nonprofit organizations. We posit that a nonprofit's demand for directors increases in the number of programs it pursues, resulting in a positive association between program diversity and board size. Consequently, we predict that board size is inversely related to managerial pay-performance incentives and positively with overall organization performance. We find empirical evidence consistent with our hypotheses. The number of programs is positively related to board size. Board size is associated negatively with managerial incentives, positively with program spending and fundraising performance, and negatively with commercial revenue, in levels and changes.     

Exploring advertising as an antecedent to brand experience dimensions: an experimental study

The objective of the study is to investigate the impact of advertising on brand experience dimensions for an existing bank and a financial technology (Fintech) brand. A 2?×?2 between-subject experimental study was conducted that analyzed the antecedents of brand experience dimensions and compared them between an existing bank and a fintech brand. The study confirmed the main effect of advertising on all brand experience dimensions. The brand experience scores for the fintech brand were higher than that of the existing bank brand, and significant differences were observed for sensory, emotional, and behavioral brand experience dimensions. The study confirms the influence of advertising on both existing bank and fimtech brand. While most of the previous studies are based on survey research, the present study provides deep probing using experimental study. It seeks to understand the antecedent to brand experience in the context of an emerging country.     

Constraint-based ACO for a shared resource constrained scheduling problem

We consider a scheduling problem arising in the mining industry. Ore from several mining sites must be transferred to ports to be loaded on ships in a timely manner. In doing so, several constraints must be met which involve transporting the ore and deadlines. These deadlines are two-fold: there is a preferred deadline by which the ships should be loaded and there is a final deadline by which time the ships must be loaded. Corresponding to the two types of deadlines, each task is associated with a soft and hard due time. The objective is to minimize the cumulative tardiness, measured using the soft due times, across all tasks. This problem can be formulated as a resource constrained job scheduling problem where several tasks must be scheduled on multiple machines satisfying precedence and resource constraints and an objective to minimize total weighted tardiness. For this problem we present hybrids of ant colony optimization, Beam search and constraint programming. These algorithms have previously shown to be effective on similar tightly-constrained combinatorial optimization problems. We show that the hybrid involving all three algorithms provides the best solutions, particularly with respect to feasibility. We also investigate alternative estimates for guiding the Beam search component of our algorithms and show that stochastic sampling is the most effective.     

Experiments in farmers' collectives in Eastern India and Nepal: Process,benefits, and challenges

Do farmers' collectives, which pool land, labour, capital, and skills to create medium‐sized production units, offer a more viable model of farming for resource‐constrained smallholders than individual family farms? A participatory action research project in Eastern India and Nepal provides notable answers. Groups of marginal and tenant farmers, catalysed by the project, evolved into four different collective models with varying levels of cooperation, gender composition, and land ownership/tenancy status. Based on 3 years of action research, this paper examines how the models evolved and their differential outcomes. All groups have gained from cultivating contiguous plots in their efficiency of labour and machine use for land preparation and irrigation, and from economies in input purchase. Several collectives of tenant farmers have also enhanced their bargaining power vis‐a‐vis an entrenched landlord class and thus been able to negotiate lower rents and refuse long‐standing feudal obligations. However, the models differ in their extent of economic gain and their ability to handle gender inequalities and conflicts over labour sharing. The paper explores the historical, regional, and cultural factors that could explain such differences across the models. It thus offers unique insights into the processes, benefits, and challenges of farmers' collectives and provides pointers for replication and further research.