scholarly journals (Re)-Structuring the CEO's Compensation-the Case of Israel

2020 ◽  
Vol 6 (20) (3) ◽  
pp. 105-117
Author(s):  
Katarzyna Mroczek-Dąbrowska ◽  
Yaron Shemesh
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Market Power ◽  
Government Policies ◽  
Short Term ◽  
Executive Performance ◽  
Power Game ◽  
High Level ◽  
Israeli Experience

The executive compensation issue continues to cause protest due to the increasing number of cases of an unjustifiably high level of pay. The main conflict arises from the misalignment of interests between the short-term expectations of the manager and long-term needs of the shareholders. Since there are no universal rules on how to price the executive performance companies reach for different means of establishing the CEO's compensation and ascertaining manager's commitment towards maintaining a company's value. The issue becomes more complex once the compensation rules are not a direct effect of the market power game but are additionally restricted by government. The aim of the paper is to discuss corporate government policies introduced in Israel and their impact on executive compensation level and structure. Israel is amongst those countries that partially regulate CEO compensation and thus the Israeli experience can add to the understanding of the effectiveness of modern corporate governance.

From Users’ Intentions to IF-THEN Rules in the Internet of Things

2021 ◽  
Vol 39 (4) ◽  
pp. 1-33
Author(s):  
Fulvio Corno ◽  
Luigi De Russis ◽  
Alberto Monge Roffarello
Keyword(s):  
Internet Of Things ◽  
Smart Devices ◽  
The Internet ◽  
Short Term ◽  
Real World Data ◽  
Original Intention ◽  
Recommendation Accuracy ◽  
High Level ◽  
The Internet Of Things

In the Internet of Things era, users are willing to personalize the joint behavior of their connected entities, i.e., smart devices and online service, by means of trigger-action rules such as “IF the entrance Nest security camera detects a movement, THEN blink the Philips Hue lamp in the kitchen.” Unfortunately, the spread of new supported technologies makes the number of possible combinations between triggers and actions continuously growing, thus motivating the need of assisting users in discovering new rules and functionality, e.g., through recommendation techniques. To this end, we present , a semantic Conversational Search and Recommendation (CSR) system able to suggest pertinent IF-THEN rules that can be easily deployed in different contexts starting from an abstract user’s need. By exploiting a conversational agent, the user can communicate her current personalization intention by specifying a set of functionality at a high level, e.g., to decrease the temperature of a room when she left it. Stemming from this input, implements a semantic recommendation process that takes into account ( a ) the current user’s intention , ( b ) the connected entities owned by the user, and ( c ) the user’s long-term preferences revealed by her profile. If not satisfied with the suggestions, then the user can converse with the system to provide further feedback, i.e., a short-term preference , thus allowing to provide refined recommendations that better align with the original intention. We evaluate by running different offline experiments with simulated users and real-world data. First, we test the recommendation process in different configurations, and we show that recommendation accuracy and similarity with target items increase as the interaction between the algorithm and the user proceeds. Then, we compare with other similar baseline recommender systems. Results are promising and demonstrate the effectiveness of in recommending IF-THEN rules that satisfy the current personalization intention of the user.

scholarly journals A Framework for Property Developers to Survive in a Recession

10.29007/cfr2 ◽  
2018 ◽  
Author(s):  
Zunoon Parambath ◽  
Nilupa Udawatta
Keyword(s):  
Survival Strategies ◽  
Economic Activities ◽  
Short Term ◽  
Property Development ◽  
Market Shares ◽  
Negative Impacts ◽  
Set Up ◽  
High Level ◽  
Property Developers

Recession is considered as a major threat to the economy as it slows down economic activities. The property development sector is extremely responsive to these economic conditions. Thus, it is crucial to understand causes, effects and strategies for property developers to survive in a recession without any ill effects. Thus, this research aimed to develop a framework for property developers to identify appropriate survival strategies in recession. A comprehensive literature review was conducted in this research to achieve the above mentioned aim. The results of this study indicated that recession prompts negative impacts on property development sector resulting in unemployment, lower demand, production and revenue, decline in resources and high level of competition. According to the results, the survival strategies were classified into short-term and long-term strategies. The short term strategies include: implementing management tactics, cut down of operating costs, keeping financing lines set up, timely repayment of debts, setting vital new objectives for the future, undertaking shorter time span developments, specialisation in favoured market, renegotiating deals and contracts. The long-term strategies include retrenchment, restructuring, investment and ambidextrous strategies. Similarly, attention should be paid to predict any changes in the economic environment that can influence property development activities and it is necessary to carefully evaluate investment activities to increase sales, profits and market shares of property developers. Preparing for a crisis is doubtlessly the ideal approach as it can facilitate both survival and growth. Thus, the property developers can implement these suggested strategies in their businesses to enhance their practices.

scholarly journals Learning Long- and Short-Term User Literal-Preference with Multimodal Hierarchical Transformer Network for Personalized Image Caption

2020 ◽  
Vol 34 (05) ◽  
pp. 9571-9578 ◽  
Author(s):  
Wei Zhang ◽  
Yue Ying ◽  
Pan Lu ◽  
Hongyuan Zha
Keyword(s):  
State Of The Art ◽  
Natural Extension ◽  
Target Image ◽  
Short Term ◽  
Image Representations ◽  
High Level ◽  
Image Descriptions ◽  
Shed Light ◽  
Image Caption

Personalized image caption, a natural extension of the standard image caption task, requires to generate brief image descriptions tailored for users' writing style and traits, and is more practical to meet users' real demands. Only a few recent studies shed light on this crucial task and learn static user representations to capture their long-term literal-preference. However, it is insufficient to achieve satisfactory performance due to the intrinsic existence of not only long-term user literal-preference, but also short-term literal-preference which is associated with users' recent states. To bridge this gap, we develop a novel multimodal hierarchical transformer network (MHTN) for personalized image caption in this paper. It learns short-term user literal-preference based on users' recent captions through a short-term user encoder at the low level. And at the high level, the multimodal encoder integrates target image representations with short-term literal-preference, as well as long-term literal-preference learned from user IDs. These two encoders enjoy the advantages of the powerful transformer networks. Extensive experiments on two real datasets show the effectiveness of considering two types of user literal-preference simultaneously and better performance over the state-of-the-art models.

Proactive Law as Competitive Advantage in Crowdfunding

2020 ◽  
pp. 861-881
Author(s):  
Jack Wroldsen
Keyword(s):  
Corporate Governance ◽  
Intellectual Property ◽  
Competitive Advantage ◽  
Competitive Advantages ◽  
Business Law ◽  
Short Term ◽  
Proactive Approach ◽  
Governance Challenges ◽  
Tax Efficiency

This chapter explains how the paradigm of proactive law as competitive advantage can help entrepreneurs succeed in crowdfunding campaigns. Business law scholars have developed theories of “proactive law” and “law as competitive advantage” to show how law can be transformed from an obstacle into a strategic business advantage. This chapter analyzes the evolving crowdfunding landscape through the lens of proactive law as competitive advantage. The chapter proposes several types of innovative securities designed to create competitive advantages in crowdfunding offerings. For example, one type would give crowdfunding investors long-term equity interests while simultaneously eliminating short-term corporate governance challenges for small crowdfunded companies. Apart from securities, the chapter also describes how a proactive approach to law can enhance crowdfunding campaigns in multiple areas, from intellectual property to tax efficiency. To conclude, the chapter suggests expanding the theory of proactive law as competitive advantage to additional areas of entrepreneurship, beyond crowdfunding.

Proactive Law as Competitive Advantage in Crowdfunding

2020 ◽  
pp. 1107-1127
Author(s):  
Jack Wroldsen
Keyword(s):  
Corporate Governance ◽  
Intellectual Property ◽  
Competitive Advantage ◽  
Competitive Advantages ◽  
Business Law ◽  
Short Term ◽  
Proactive Approach ◽  
Governance Challenges ◽  
Tax Efficiency

This chapter explains how the paradigm of proactive law as competitive advantage can help entrepreneurs succeed in crowdfunding campaigns. Business law scholars have developed theories of “proactive law” and “law as competitive advantage” to show how law can be transformed from an obstacle into a strategic business advantage. This chapter analyzes the evolving crowdfunding landscape through the lens of proactive law as competitive advantage. The chapter proposes several types of innovative securities designed to create competitive advantages in crowdfunding offerings. For example, one type would give crowdfunding investors long-term equity interests while simultaneously eliminating short-term corporate governance challenges for small crowdfunded companies. Apart from securities, the chapter also describes how a proactive approach to law can enhance crowdfunding campaigns in multiple areas, from intellectual property to tax efficiency. To conclude, the chapter suggests expanding the theory of proactive law as competitive advantage to additional areas of entrepreneurship, beyond crowdfunding.

scholarly journals Assessing the Opportunities and Challenges of Green Finance in Italy: An Analysis of the Biomass Production Sector

2019 ◽  
Vol 11 (2) ◽  
pp. 517 ◽  
Author(s):  
Pasquale Falcone ◽  
Edgardo Sica
Keyword(s):  
Government Policies ◽  
Short Term ◽  
Production Sector ◽  
Environmentally Sustainable ◽  
Investment Projects ◽  
Policy Interventions ◽  
Green Finance ◽  
Effective Policy ◽  
Financial Issues

The present paper provides empirical evidence of the opportunities and challenges surrounding green finance (GF), looking at the financial issues that might prevent the investment decisions of green companies. To this end, we explore the case of Italian biomass producers by means of a discourse analysis supported by a survey administered to a pool of experts. Although our findings suggest that GF provides an opportunity for achieving environmentally sustainable innovation pathways, experts recognize that it does not actually prevent biomass producers from facing institutional and financial criticalities in funding their investment projects. Such criticalities include: uncertainty about government policies, the minimal involvement of financial suppliers in the biomass sector, the short-term orientation of financial instruments and the limited knowledge of financing options and technical expertise within companies. The results indicate that effective policy interventions should ensure that objectives are orientated towards the long term with the aim of reducing the risks perceived by financial institutions in funding biomass producers.

Game and Information Theory in Modern Managerial Economics

2013 ◽  
pp. 128-154
Author(s):  
Esther Gal-Or
Keyword(s):  
Information Theory ◽  
Incomplete Information ◽  
Market Power ◽  
Entry Barriers ◽  
Market Failures ◽  
Short Term ◽  
Vertical Control ◽  
Managerial Economics

This chapter describes how methodologies developed in the field of game and information theory can assist in understanding the interaction of competitors in markets, and the study of managerial economics, in general. The chapter highlights, in particular, the role of incomplete information in generating market failures, and provides examples of mechanisms that can alleviate such failures. Some examples of topics addressed are: first- and second-mover advantages, long term strategic commitments versus short term tactical choices made by competitors, erection of entry barriers to secure market power, choices of product-mix, special pricing mechanisms to enhance profitability, and issues related to vertical control and the internal organization of the firm.

EU telecoms reform will trigger legislative battle

2015 ◽  
Keyword(s):  
Market Power ◽  
Next Generation ◽  
Short Term ◽  
Sector Reform ◽  
Content Type ◽  
Eu Policy ◽  
Price Increases ◽  
Regulatory Frameworks ◽  
National Governments

Subject Telecoms sector reform. Significance Ministers responsible for the telecoms sector have watered down the European Commission's proposals to reform the industry. Their moves coincide with a wave of consolidation among mobile operators at the national and regional levels, raising questions of whether the balance of EU policy towards the sector has swung against consumers or if these changes are necessary for the sector's long-term competitiveness. Impacts Consolidation will facilitate future investment, leaving the mobile telecoms sector better placed to develop next generation infrastructure. However, if recent mergers are any guide, most consumers can expect price increases in the short term. This may raise fears of a strengthening of incumbents' market power. National consolidation should be followed by European consolidation. However, this will only make sense if national governments agree to greater convergence of regulatory frameworks -- which looks unlikely.

Causes and Consequences of the Korean Financial Crisis

2000 ◽  
Vol 03 (01) ◽  
pp. 1-26 ◽  
Author(s):  
Dosoung Choi ◽  
Frank C. Jen ◽  
H. Han Shin
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Capital Markets ◽  
Business Sector ◽  
External Shocks ◽  
Business Risk ◽  
Short Term ◽  
The Past ◽  
Debt Capital

During the past decade, the profitability of Korean firms has declined significantly while their business risk has risen substantially. The deteriorating condition was largely due to excessive investments in manufacturing capacity that were financed mainly with short-term debt capital. The measures to restructure the system are summarized in two major thrusts: one, to reform corporate governance so that the business sector becomes more transparent and more value-enhancing; and two, to help develop long-term capital markets so that the domestic financial system becomes less vulnerable to external shocks.

Investor Horizons and Corporate Policies

2013 ◽  
Vol 48 (6) ◽  
pp. 1755-1780 ◽  
Author(s):  
François Derrien ◽  
Ambrus Kecskés ◽  
David Thesmar
Keyword(s):  
Corporate Governance ◽  
Market Timing ◽  
Short Term ◽  
Equity Financing ◽  
Corporate Policies ◽  
Corporate Behavior ◽  
Self Selection ◽  
Stock Mispricing

AbstractWe study the effect of investor horizons on corporate behavior. We argue that longer investor horizons attenuate the effect of stock mispricing on corporate policies. Consistent with our argument, we find that when a firm is undervalued, greater long-term investor ownership is associated with more investment, more equity financing, and less payouts to shareholders. Our results do not appear to be explained by long-term investor self-selection, monitoring (corporate governance), or concentration (blockholdings). Our results are consistent with a version of market timing in which mispriced firms cater to the tastes of their short-term investors rather than their long-term investors.

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