New perspectives on the governance of executive compensation:an examination of the role and effect of compensation consultants

We develop a multi-theoretic approach, drawing on economic, institutional, managerial power and social comparison literatures to explain the role of the external compensation consultant in the top management pay setting institutional field. Taking advantage of recent disclosure requirements in the UK, we collect data on compensation consultant use in 232 large companies. We show that consultants are a prevalent part of the CEO pay setting scene, and document evidence of all advisor use. Our econometric results show that consultant use is associated with firm size and the equity pay mix. We also show that CEO pay is positively associated with peer firms that share consultants, with higher board and consultant interlocks, and some evidence that where firms supply other business services to the firm, CEO pay is greater. © 2009 Springer Science+Business Media, LLC.

An information foraging theory based user study of an adaptive user interaction framework for content-based image retrieval

This paper presents the design and results of a task-based user study, based on Information Foraging Theory, on a novel user interaction framework - uInteract - for content-based image retrieval (CBIR). The framework includes a four-factor user interaction model and an interactive interface. The user study involves three focused evaluations, 12 simulated real life search tasks with different complexity levels, 12 comparative systems and 50 subjects. Information Foraging Theory is applied to the user study design and the quantitative data analysis. The systematic findings have not only shown how effective and easy to use the uInteract framework is, but also illustrate the value of Information Foraging Theory for interpreting user interaction with CBIR. © 2011 Springer-Verlag Berlin Heidelberg.

Seeing blur:'Motion sharpening' without motion

It is widely supposed that things tend to look blurred when they are moving fast. Previous work has shown that this is true for sharp edges but, paradoxically, blurred edges look sharper when they are moving than when stationary. This is 'motion sharpening'. We show that blurred edges also look up to 50% sharper when they are presented briefly (8-24 ms) than at longer durations (100-500 ms) without motion. This argues strongly against high-level models of sharpening based specifically on compensation for motion blur. It also argues against a recent, low-level, linear filter model that requires motion to produce sharpening. No linear filter model can explain our finding that sharpening was similar for sinusoidal and non-sinusoidal gratings, since linear filters can never distort sine waves. We also conclude that the idea of a 'default' assumption of sharpness is not supported by experimental evidence. A possible source of sharpening is a nonlinearity in the contrast response of early visual mechanisms to fast or transient temporal changes, perhaps based on the magnocellular (M-cell) pathway. Our finding that sharpening is not diminished at low contrast sets strong constraints on the nature of the nonlinearity.

Stationary scattering from a nonlinear network

Transmission through a complex network of nonlinear one-dimensional leads is discussed by extending the stationary scattering theory on quantum graphs to the nonlinear regime. We show that the existence of cycles inside the graph leads to a large number of sharp resonances that dominate scattering. The latter resonances are then shown to be extremely sensitive to the nonlinearity and display multistability and hysteresis. This work provides a framework for the study of light propagation in complex optical networks.

The evaluation of marketing strategies for the sale of sports goods in Europe

The objectives of this thesis are to examine and evaluate the process of marketing as practiced by an established and successful company in the sports trade, Dunlop Sports Company Ltd. (D.S.C.). In particular the field of strategy formulation for exporting is considered in an operational context, and compared with existing literature and theory on the subject. Market intelligence has been gathered by visiting European territories and pursuing available sources in the United Kingdom. The data now available is intended to act as a base for developing a more effective market research function within D.S.C. At various stages reports have been submitted on specific topics to the Company and this thesis represents the culmination of these reports and an outline for future policies which are open to D.S.C. The thesis chooses certain aspects of marketing and examines the way in which the marketing strategy of the Company appears to act upon these. In particular the topics of Pricing, Distribution and Market Research are considered. Initially a series of alternative market postures are postulated and assessed within the European strategy of D.S.C. Where no explicit strategy is available an implied strategy is identified and evaluated. In chapters on Pricing and Distribution some of the problems being encountered are given detailed consideration and preferred policies arc suggested. In the final chapter the major strengths and weaknesses of of the Company are brought together and the various recommendations summarised in the context of a marketing strategy which would meet some o:f the current difficulties. The emphasis tliroughout is on the effect of strategy formulation, whether or not this appears adequate, and how each of the various operational elements of the marketing mix depend upon this.

Real options and demographic decisions:empirical evidence from East and West Germany

Iyer and Velu (2006) have convincingly argued that contemporary analyses of fertility behaviour fail to explain why a woman (or a couple) will choose to postpone childbirth, and in particular to consider the role of uncertainty in this regard. They have addressed this lacuna in the literature by using a real options approach to model fertility decisions by relating uncertainty experienced by individuals to the likelihood of childbirth. However, they did not present empirical evidence. Since the theory implies the existence of two offsetting effects of uncertainty on fertility decisions, a positive insurance effect and a negative option value effect, it is not easy to reject the theory on the basis of empirical analysis, when one of these effects offsets the other. We construct such a test for East (and also West) Germany during that country's reunification, which takes advantage of the fact that because of the country's strong welfare system, the insurance effect should be dominated by the option value effect, thereby suggesting that the net relationship should be negative. The results provide rather strong support for the real options link, especially for Eastern Germany.

24-Karat or fool’s gold? Consequences of real team and co-acting group membership in healthcare organizations

Although theory on team membership is emerging, limited empirical attention has been paid to the effects of different types of team membership on outcomes. We propose that an important but overlooked distinction is that between membership of real teams and membership of co-acting groups, with the former being characterized by members who report that their teams have shared objectives, and structural interdependence and engage in team reflexivity. We hypothesize that real team membership will be associated with more positive individual- and organizational-level outcomes. These predictions were tested in the English National Health Service, using data from 62,733 respondents from 147 acute hospitals. The results revealed that individuals reporting the characteristics of real team membership, in comparison with those reporting the characteristics of co-acting group membership, witnessed fewer errors and incidents, experienced fewer work related injuries and illness, were less likely to be victims of violence and harassment, and were less likely to intend to leave their current employment. At the organizational level, hospitals with higher proportions of staff reporting the characteristics of real team membership had lower levels of patient mortality and sickness absence. The results suggest the need to clearly delineate real team membership in order to advance scientific understanding of the processes and outcomes of organizational teamwork.

Financial innovation and engineering in Islamic financial institutions

Drawing from work found in the financial innovation literature, the main objective of this research is to explore the effect of religious orientation towards financial innovation and engineering in Islamic Financial Institutions (IFIs). The research also examines what constitutes this religious orientation and how it is enacted in the innovation process. Religious orientation towards financial innovation is conceptualised and defined, as a system, in this research study. In order to achieve this objective, the study employs multiple theoretical perspectives to develop its theoretical framework. It combines innovation orientation theory with the theory on boundary objects to explore the role of religion in the financial innovation processes in IFIs. Religious orientation