Executive pay, tournaments and corporate performance in UK firms

Recent initiatives for modernising local government have ignored the potential contribution of parish and town councils. This article critically examines English parish and town councils in the context of the current debate about the need for government to be more responsive to community needs. It considers measures to enhance the capacity of these grassroots councils by recalibrating the responsibilities and resources between tiers of local government. It concludes by setting out possible reforms to facilitate the contribution of these local councils to the modernising agenda as both representatives of the community and potential providers of local services.

Corporate tournaments and executive compensation: evidence from the UK

This study tests the implications of tournament theory using data on 100 U.K. stock market companies, covering over 500 individual executives, in the late 1990s. Our results provide some evidence consistent with the operation of tournament mechanisms within the U.K. business context. Firstly, we find a convex relationship between executive pay and organizational level and secondly, that the gap between CEO pay and other board executives (i.e., tournament prize) is positively related to the number of participants in the tournament. However, we also show that the variation in executive team pay has little role in determining company performance.

The narrative construction va + infinitive in contemporary French:a linguistic phoenix risen from its medieval ashes?

In Old and Middle French (12th-16th centuries), va ["goes"] + inf was used in narrations in the past. A similar usage seems to have reappeared and be spreading today. However, the old construction combined with past Tenses whereas the new one is found only with forms anchored in present and future. We argue that the conTemporary construction derives not from the old one, but from a metanarrative construction. On the basis of its future in Terpretation, va + inf aids the organization of the narration, announcing subsequent events through a hypernymic process. The periphrasis thus approaches a narrative value by projecting the time of events onto that of narration. With the disappearance of all deictic markers, the go-periphrases are no longer hypernyms: they appear on the same temporal line of events as the neighboring situations and are understood as fully completed. © John Benjamins Publishing Company.

Aspects of English building works from medieval times to the mid-nineteenth century

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