董事激励与公司业绩--实验的证据

我们在实验框架下检验了董事会成员的激励对股东财富和CEO报酬的影响,以及该报酬与公司业绩之间的敏感度.文中提出了两种任命董事的方法,一种由CEO任命,另一种由最大的股东自动担任董事.由董事会决定CEO的报酬,而CEO负责企业的生产、投资和分红决策.投资者根据接收到的每个公司的分红、资本收益这些信息,通过买卖这些企业的股票来调整他们的资产组合. 我们发现,薪酬与业绩之间的敏感度随董事持股比例的增加而上升.此外,当大股东作为董事会成员时,经济体所产生的财富(股东财富是其中的一部分)更大;而当CEO选择董事时,结果是缺乏效率的.本文讨论了关于董事职能和相关代理成本这一研究结果,以及标准会计框架下,限制执行人员报酬和报表标准化要求.     

Collective intelligence: Scale development and validation

In today’s growing competition, organizations face shrinking innovation cycles, swelling customer expectations, and distributed talent which impels organizations to apply knowledge, skills, and experience of employees most effectively. Applying collective intelligence, i.e., the combined knowledge and expertise of a diverse group, has become the order of the day. Therefore, collective intelligence level of an individual is of immense importance for high performance and achievement of the goals. In the present research, an attempt is made to operationalize the components of organizational collective intelligence from working professionals. Specifically, an attempt is made to develop a scale to measure collective intelligence among 600 working professionals. The results were subjected to the robust measurement tools such as Exploratory Factor Analysis and Structures Equation Modeling to confirm the factor structure. The instrument resulted in four factors and a 17-item scale. The instrument can be used by the policymakers and human resource managers for selecting, harnessing, and retaining appropriate talent in the organization.     

An autopsy-based evaluation of deaths of homeless unknown persons (HUPs)

Background: India is a significant host to homeless unknown persons (HUPs) and subsequently to their untimely deaths due to various reasons. The autopsy-based evaluation has been always important in knowing the exact reasons behind it. Objective: To know about the epidemiological mortality profile such as magnitude, cause and manner of death, seasonality, and year-wise distribution of their untimely and unattended deaths. Materials and Methods: A retrospective autopsy-based evaluation of unnatural deaths among HUPs was done at LHMC, New Delhi for a total duration of 5 years (January 2006 to December 2010). Results: Out of 749 cases in the study group in this duration, 536 deaths have been caused due to some natural events and 213 due to some unnatural events. Among the natural deaths, the pulmonary pathology did contribute for 509 cases. Conclusion: The study population is a vulnerable segment of the society which often suffers the extreme adversity of natural and unnatural events in the form of their deaths. It is a significant host to the pulmonary infections that often spread to the other segments of the society at the point of contact. Thereby it deserves an urgent public health intervention and a policy response for the same for the well-being of HUPs and the general public at large.     

Measuring the economic impacts of recent oil price shocks on oil-dependent economy: evidence from Malaysia

This paper examines the economy-wide impacts of recent oil price shocks on the Malaysian economy. To achieve this objective, an integrated methodological framework that combines econometric and input–output models is utilized to assess the impacts of an oil price shock on tax revenues, employment, labor income and gross domestic product (GDP). Our results reveal that the recent oil price shocks significantly affects these macroeconomic variables. The decline in oil prices from 2015 to 2016 reduces tax revenues by 10.5%, lower GDP by 1.9% and increases the unemployment rate by 0.3%. As such, the sharp crunch in oil prices serves as a reminder to policymakers on the vulnerability inherent in overreliance on oil exports and the urgent need to diversify the economy.     

Generalized geometric distribution of order k: A flexible choice to randomize the response

This article focuses on the improvement of a well-celebrated randomized response technique of Kuk. A generalized randomized response technique is suggested. In particular, the generalized geometric distribution of order k is introduced as a randomization device for estimating the population proportion of a rare sensitive attribute. The proposed randomized response technique includes Singh and Grewal and Hussain et al. techniques as its special cases. Through numerical illustrations, it is established that the suggested technique is superior to the Kuk, Singh and Grewal, and Hussain et al. techniques. Flexibility of the proposed technique is also discussed.     

The negotiation of minority ethnic identities in virtually all-white communities: research with children and their families in the South Wales valleys

This paper draws on qualitative interviews with 19 children and nine of their parents or carers in the South Wales valleys to discuss the effect on the social identities of minority ethnic children of living in virtually all-white communities. There is discussion of minority ethnic identities, local identities and Welshness, and the paper concludes with consideration of the theoretical and policy implications of the research. Interviews with the children showed them to be using a variety of creative strategies to negotiate their identities in a challenging and highly racialised context. Diverse individual histories and family relationships interact with available minority cultural identities and local and national cultural influences. The children have to construct their own identities in the context of dominant discourses of ‘Wales’ and ‘Welshness’ and also class-based notions of what it means to come from this particular region. Some maintain minority ethnic identities with pride and for others the maintenance of a minority ethnic identity is put under extreme pressure.     

A rational approach to pricing of catastrophe insurance

A methodology for rational pricing of catastrophe insurance is described. The methodology has two components: a solvency- and stability-based pricing framework, and an engine to quantify the loss variability that drives solvency and stability. Generalization to account for contagious effects of catastrophes and multiple occurrence of peril is presented in detail.     

Measures of discrimination for latent group-based trajectory models

In clinical research, patient care decisions are often easier to make if patients are classified into a manageable number of groups based on homogeneous risk patterns. Investigators can use latent group-based trajectory modeling to estimate the posterior probabilities that an individual will be classified into a particular group of risk patterns. Although this method is increasingly used in clinical research, there is currently no measure that can be used to determine whether an individual's group assignment has a high level of discrimination. In this study, we propose a discrimination index and provide confidence intervals of the probability of the assigned group for each individual. We also propose a modified form of entropy to measure discrimination. The two proposed measures were applied to assess the group assignments of the longitudinal patterns of conduct disorders among young adolescent girls.     

Nature’s Experiment? Handedness and Early Childhood Development

In recent years, a large body of research has investigated the various factors affecting child development and the consequent impact of child development on future educational and labor market outcomes. In this article, we contribute to this literature by investigating the effect of handedness on child development. This is an important issue given that around 10% of the world’s population is left-handed and given recent research demonstrating that child development strongly affects adult outcomes. Using a large, nationally representative sample of young children, we find that the probability of a child being left-handed is not significantly related to child health at birth, family composition, parental employment, or household income. We also find robust evidence that left-handed (and mixed-handed) children perform significantly worse in nearly all measures of development than right-handed children, with the relative disadvantage being larger for boys than girls. Importantly, these differentials cannot be explained by different socioeconomic characteristics of the household, parental attitudes, or investments in learning resources.