scholarly journals Stock Repurchases and Executive Compensation Contract Design: The Role of Earnings per Share Performance Conditions

2011 ◽  
Vol 86 (2) ◽  
pp. 703-733 ◽  
Author(s):  
Steven Young ◽  
Jing Yang
Keyword(s):  
Executive Compensation ◽  
Positive Association ◽  
Stock Repurchases ◽  
Stock Repurchase ◽  
Compensation Contracts ◽  
Earnings Per Share ◽  
Contingent Compensation ◽  
Strong Positive Association ◽  
Performance Conditions

ABSTRACT: We examine the link between firms’ stock repurchase activity and the presence of earnings per share (EPS) performance conditions in executive compensation contracts. Findings reveal a strong positive association between repurchases and EPS-contingent compensation arrangements. Further analysis suggests net benefits to shareholders from this association. Specifically, repurchasers experience larger increases in total payouts; the positive association between repurchases and cash performance is more pronounced for firms with EPS targets in the presence of surplus cash; undervalued firms with EPS targets are more likely to signal mispricing through a repurchase; and repurchasers with EPS conditions are associated with lower abnormal accruals. We find no evidence that EPS-driven repurchases impose costs on shareholders in the form of investment myopia.

The role of accounting conservatism in executive compensation contracts

2018 ◽  
Vol 45 (9-10) ◽  
pp. 1139-1163 ◽  
Author(s):  
Takuya Iwasaki ◽  
Shota Otomasa ◽  
Atsushi Shiiba ◽  
Akinobu Shuto
Keyword(s):  
Executive Compensation ◽  
Accounting Conservatism ◽  
Compensation Contracts

scholarly journals CSR-Contingent Executive Compensation Incentive and Earnings Management

2019 ◽  
Vol 11 (12) ◽  
pp. 3421 ◽  
Author(s):  
Zhichuan (Frank) Li ◽  
Caleb Thibodeau
Keyword(s):  
Earnings Management ◽  
Executive Compensation ◽  
Corporate Social Performance ◽  
Social Performance ◽  
Compensation Contracts ◽  
Corporate Executives ◽  
Incentive Effects ◽  
Public Pressure ◽  
Contingent Compensation ◽  
Corporate Social

This paper empirically studies the connection between earnings management and corporate social performance, conditional on the existence of CSR-contingent executive compensation contracts, an emerging practice to link executive compensation to corporate social performance. We find that executives are more likely to manipulate earnings to achieve their personal compensation goals when CSR rating is low, as well as their CSR-contingent compensation. Because of public pressure on their excessive total compensation, corporate executives see no need to manipulate earnings to increase compensation when their CSR-contingent compensation is already high. Our results suggest that earnings management and CSR-contingent compensation are substitute tools to serve the interests of executives, which is an agency problem that was never previously studied. Additionally, we explore how managerial characteristics affect earnings management, driven by the incentive effects of CSR-linked compensation.

scholarly journals Increased Expression of Meteorin-Like Hormone in Type 2 Diabetes and Obesity and Its Association with Irisin

Cells ◽  
2019 ◽  
Vol 8 (10) ◽  
pp. 1283 ◽  
Author(s):  
AlKhairi ◽  
Cherian ◽  
Abu-Farha ◽  
Madhoun ◽  
Nizam ◽  
...  
Keyword(s):  
Type 2 Diabetes ◽  
Plasma Levels ◽  
Positive Association ◽  
Diabetic Patients ◽  
Metabolic Dysregulation ◽  
Strong Positive Association ◽  
Metabolic Biomarkers ◽  
Diabetes And Obesity

Type 2 diabetes (T2D) is a growing pandemic associated with metabolic dysregulation and chronic inflammation. Meteorin-like hormone (METRNL) is an adipomyokine that is linked to T2D. Our objective was to evaluate the changes in METRNL levels in T2D and obesity and assess the association of METRNL levels with irisin. Overall, 228 Arab individuals were enrolled. Plasma levels of METRNL and irisin were assessed using immunoassay. Plasma levels of METRNL and irisin were significantly higher in T2D patients than in non-diabetic patients (p < 0.05). When the population was stratified based on obesity, METRNL and irisin levels were significantly higher in obese than in non-obese individuals (p < 0.05). We found a significant positive correlation between METRNL and irisin (r = 0.233 and p = 0.001). Additionally, METRNL and irisin showed significant correlation with various metabolic biomarkers associated with T2D and Obesity. Our data shows elevated METRNL plasma levels in individuals with T2D, further exacerbated with obesity. Additionally, a strong positive association was observed between METRNL and irisin. Further studies are necessary to examine the role of these proteins in T2D and obesity, against their ethnic background and to understand the mechanistic significance of their possible interplay.

scholarly journals The Dynamics of Neighborhood Structural Conditions: The Effects of Concentrated Disadvantage on Homicide over Time and Space

2016 ◽  
Vol 15 (1) ◽  
pp. 64-82 ◽  
Author(s):  
Jacob H. Becker
Keyword(s):  
Spatial Variation ◽  
Positive Association ◽  
Ordinary Least Squares ◽  
Neighborhood Change ◽  
Concentrated Disadvantage ◽  
Cross Sectional ◽  
Continuity And Change ◽  
Ecological Theories ◽  
Strong Positive Association

Several recent spatial analyses conclude the strong positive association typically found between neighborhood concentrated disadvantage and crime in cross–sectional studies significantly differs across neighborhoods. It is possible this spatial variation is due to within–neighborhood dynamics of continuity and change, as suggested by ecological theories of neighborhood crime. Using ordinary least–squares and geographically weighted regression models, I explore the role of within–neighborhood change on the disadvantage–homicide relationship across Chicago neighborhoods and find that controlling for historical changes in disadvantage within neighborhoods reduces—but does not eliminate—spatial variation in the cross–sectional relationship. Within–neighborhood changes in concentrated disadvantage from 1970 to 2000 are positively related to homicide rates, net of the level of disadvantage in 2000. This suggests the relationship is influenced to some degree by temporal continuity or change in the neighborhood ecological structure, consistent with the dynamic conceptualization of neighborhoods inherent to ecological theories of crime like social disorganization.

scholarly journals Alcohol Activates a Sucrose-Responsive Gustatory Neural Pathway

2004 ◽  
Vol 92 (1) ◽  
pp. 536-544 ◽  
Author(s):  
Christian H. Lemon ◽  
Susan M. Brasser ◽  
David V. Smith
Keyword(s):  
Ethanol Concentration ◽  
Positive Association ◽  
Sweet Taste ◽  
Neural Mechanisms ◽  
Neural Representation ◽  
Taste Receptors ◽  
Sweet Taste Receptors ◽  
Strong Positive Association ◽  
Evoked Activity

A strong positive association exists between the ingestion of alcohol and sweet-tasting solutions. The neural mechanisms underlying this relationship are unknown, although recent data suggest that gustatory substrates are involved. Here, we examined the role of sweet taste receptors and central neural circuits for sugar taste in the gustatory processing of ethanol. Taste responses to ethanol (3, 5, 10, 15, 25, and 40% vol/vol) and stimuli of different taste qualities (e.g., sucrose, NaCl, HCl, and quinine-HCl) were recorded from neurons of the nucleus of the solitary tract in anesthetized rats prior to and after oral application of the sweet receptor blocker gurmarin. The magnitude of ethanol-evoked activity was compared between sucrose-responsive ( n = 21) and sucrose-unresponsive ( n = 20) neurons and the central neural representation of ethanol taste was explored using multivariate analysis. Ethanol produced robust concentration-dependent responses in sucrose-responsive neurons that were dramatically larger than those in sucrose-unresponsive cells. Gurmarin selectively and similarly inhibited ethanol and sucrose responses, leaving NaCl, HCl, and quinine responses unaltered. Across-neuron patterns of response to ethanol were most similar to those evoked by sucrose, becoming increasingly more so as the ethanol concentration was raised. Results implicate taste receptors for sucrose as candidate receptors for ethanol and reveal that alcohol and sugar taste are represented similarly by gustatory activity in the CNS. These findings have important implications for the sensory and reward properties of alcohol.

Compensation Consultant Fees and CEO Pay

2020 ◽  
Vol 32 (1) ◽  
pp. 51-78
Author(s):  
Jeh-Hyun Cho ◽  
Iny Hwang ◽  
Jeong-Hoon Hyun ◽  
Jae Yong Shin
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Positive Association ◽  
Data Availability ◽  
Compensation Contracts ◽  
Strong Incentive ◽  
Ceo Pay ◽  
Jel Classifications

ABSTRACT While compensation consultants are known to play an important role in the design of executive compensation contracts, evidence on the effect of consultant incentives on CEO pay is mixed. Using compensation consultant observations with mandatory fee disclosures, which a prior study identifies as an optimal pay setter, we examine whether CEO pay is associated with consultants' incentives to retain clients, measured by fees for executive compensation services. In contrast to previous studies that find no support for repeat business incentives, we find evidence that CEO pay is higher when consultants receive abnormally high fees, demonstrating a strong incentive to retain the client, and that this positive association occurs only in weakly governed firms. This finding highlights the importance of consultant incentives and corporate governance in executive compensation settings. JEL Classifications: M12; G34; G38. Data Availability: Data used in this study are publicly available.

scholarly journals HLA association in MOG-IgG– and AQP4-IgG–related disorders of the CNS in the Dutch population

2020 ◽  
Vol 7 (3) ◽  
pp. e702 ◽  
Author(s):  
Arlette L. Bruijstens ◽  
Yu Yi M. Wong ◽  
Daniëlle E. van Pelt ◽  
Pieter J.E. van der Linden ◽  
Geert W. Haasnoot ◽  
...  
Keyword(s):  
Human Leukocyte ◽  
Positive Association ◽  
Hla Class I ◽  
European Ancestry ◽  
Dutch Population ◽  
Hla Association ◽  
Leukocyte Antigen ◽  
A Cell ◽  
Strong Positive Association

ObjectiveTo investigate the possible human leukocyte antigen (HLA) association of both myelin oligodendrocyte glycoprotein (MOG-IgG)-associated diseases (MOGAD) and aquaporin-4 antibody (AQP4-IgG)-positive neuromyelitis optica spectrum disorders (NMOSDs) in the Dutch population with European ancestry to clarify similarities or differences in the immunogenetic background of both diseases.MethodsBlood samples from patients in the Dutch national MS/NMOSD expert clinic were tested for MOG-IgG and AQP4-IgG using a cell-based assay. HLA Class I and II genotyping was performed in 43 MOG-IgG–seropositive and 42 AQP4-IgG–seropositive Dutch patients with European ancestry and compared with those of 5,604 Dutch healthy blood donors.ResultsNo significant HLA association was found in MOG-IgG–seropositive patients. The AQP4-IgG–seropositive patients had a significant higher frequency of HLA-A*01 (61.9% vs 33.7%, OR 3.16, 95% CI, 1.707–5.863, p after correction [pc] = 0.0045), HLA-B*08 (61.9% vs 25.6%, OR 4.66, 95% CI, 2.513–8.643, pc < 0.0001), and HLA-DRB1*03 (51.2% vs 27.6%, OR 2.75, 95% CI, 1.495–5.042, pc = 0.0199) compared with controls.ConclusionsThe present study demonstrates differences in the immunogenetic background of MOGAD and AQP4-IgG–positive NMOSD. The strong positive association with HLA-A*01, -B*08, and -DRB1*03 is suggestive of a role of this haplotype in the etiology of AQP4-IgG–positive NMOSD in patients with European ancestry, whereas in MOGAD no evidence was found for any HLA association in these disorders.

scholarly journals Pharmacogenetics: Knowledge assessment amongst Syrian pharmacists and physicians

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Lina Albitar ◽  
Ghalia Abou Alchamat
Keyword(s):  
Drug Response ◽  
Positive Association ◽  
Knowledge Assessment ◽  
Depth Of Knowledge ◽  
New Science ◽  
Significant Difference ◽  
Syrian Population ◽  
Strong Positive Association ◽  
The Subject

Abstract Background Pharmacogenetics targets genetic variations that influence drug response. It is relatively a new science that has not been vastly employed in most developing countries including Syria. Therefore we aimed at evaluating the depth of knowledge in pharmacogenetics and the attitude towards it amongst Syrian pharmacists and physicians. Methods We carried out an internet-based questionnaire consisted of 26 questions, sent through specialized websites and private groups with a large number of pharmacists and physicians members. The survey was available online for a period of 1 month. Results The total number of respondents was 154, mostly female pharmacists. Our statistical analysis showed a strong positive association between profession (in favour of pharmacists) and pharmacogenetics knowledge p = 0.049; however, no correlation with experience p = 0.811 was found. A significant difference was reported between the knowledge of pharmacists and physicians p = 0.001 concerning drugs that need pharmacogenetics testing before being prescribed. The majority of respondents had no information about applying genetic tests in Syria before prescribing medications nor did they possess the knowledge regarding drugs that show differential responses in patients according to their unique genotypes. In our study, the percentage knowledge assessment score was low in general (mean ± Standard deviation, SD) (46% ± 13.9%). The majority of the respondents agreed that pharmacists should provide counselling to patients on the subject of pharmacogenetics. Respondents’ opinions varied concerning making pharmacogenetics learning a priority. Conclusion Lack of pharmacogenetics knowledge was found amongst respondents in general. Our findings raise concerns about the lack of awareness amongst physicians, which may hinder the implementation of this crucial field in Syria. We suggest an emphasis on the role of education, training, and conducting genotyping research on the Syrian population.

scholarly journals First-Wave COVID-19 Pandemic in Greece: The Role of Demographic, Social, and Geographical Factors in Life Satisfaction during Lockdown

2021 ◽  
Vol 10 (6) ◽  
pp. 186
Author(s):  
Evgenia Anastasiou ◽  
Marie-Noelle Duquenne
Keyword(s):  
Life Satisfaction ◽  
Strong Association ◽  
Positive Association ◽  
Web Based ◽  
Physical Isolation ◽  
The Media ◽  
Strong Positive Association ◽  
The Government ◽  
Limited Health

The onset of the coronavirus pandemic led to profound changes in populations’ everyday lives. The main purpose of this research is to investigate the factors that affected life satisfaction during the first-wave lockdown in Greece. A web-based survey was developed, and 4305 questionnaires were completed corresponding to all Greek regional units. Statistical modeling (multivariate logistic regression) was performed to evaluate to which extent significant geographical attributes and socioeconomic characteristics are likely to influence life satisfaction during lockdown due to the pandemic. In the course of the present work, some key findings emerged: social distancing and confinement measures affected mostly women in relation to men; there was a strong positive association between life satisfaction and age, especially as regards the older population; changes to employment status, increase in psychosomatic disorders, and increased usage of social media were also likely to negatively impact people’s life satisfaction. By contrast, trust in the government and the media and limited health concerns seem to have a strong association with subjective wellbeing. Finally, life satisfaction does not depend much on geographical characteristics such as urbanity or insularity, highlighting that the lockdown had an impact on the Greek population regardless of the physical isolation.

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