Endogenous managerial compensation contracts in experimental quantity-setting duopolies

Given the ongoing debate on managerial compensation schemes, our paper offers empirical insights on the strategic choice of firms' owners over the terms of a managerial compensation contract, as a commitment device aiming at gaining competitive advantage in the product market. In a quantity setting duopoly we experimentally test whether firms' owners compensate their managers through contracts combining own profits either with revenues or with relative performance, and the resulting managerial behaviour in the product market. Prominent among our results is that firms' owners choose relative performance over profit revenue contracts more frequently. Further, firms' owners successfully induce a more aggressive behaviour by their managers in the market, by setting incentives which deviate from strict profit maximization.

Temperature (over) compensation in an oscillatory surface reaction

Biological rhythms are regulated by homeostatic mechanisms that assure that physiological clocks function reliably independent of temperature changes in the environment. Temperature compensation, the independence of the oscillatory period on temperature, is known to play a central role in many biological rhythms, but it is rather rare in chemical oscillators. We study the influence of temperature on the oscillatory dynamics during the catalytic oxidation of formic acid on a polycrystalline platinum electrode. The experiments are performed at five temperatures from 5 to 25 degrees C, and the oscillations are studied under galvanostatic control. Under oscillatory conditions, only non-Arrhenius behavior is observed. Overcompensation with temperature coefficient (q(10), defined as the ratio between the rate constants at temperature T + 10 degrees C and at T) < I is found in most cases, except that temperature compensation with q(10) approximate to I predominates at high applied currents. The behavior of the period and the amplitude result from a complex interplay between temperature and applied current or, equivalently, the distance from thermodynamic equilibrium. High, positive apparent activation energies were obtained under voltammetric, nonoscillatory conditions, which implies that the non-Arrhenius behavior observed under oscillatory conditions results from the interplay among reaction steps rather than, from a weak temperature dependence of the individual steps.

Addressing Compensation Rates Below Market Value

Strategies for Recruiting and Retaining Faculty and Staff (Business Affairs Forum, attached): Many institutions face limitations on the salary rates they can offer faculty and staff due to decreases in state funding, which can create challenges in recruitment and retention of qualified employees. This brief explores strategies institutions use to lessen the impact of budget limitations on faculty and staff salaries and to recruit and retain faculty in spite of limited salary offerings.

Evaluating Department Chair and Program Director Compensation

This brief examines compensation policies for department chairs and program directors at public institutions, with a particular focus on the factors that determine compensation. The report includes an analysis of department chairs and program director responsibilities, monetary compensation, and non-monetary compensation.

Performance-based compensation vs. guaranteed compensation: contractual incentives and performance

Top management from retail banks must delegate authority to lower-level managers to operate branches and service centers. Doing so, they must navigate through conflicts of interest, asymmetric information and limited monitoring in designing compensation plans for such agents. Pursuant to this delegation, the banks adopt a system of performance targets and incentives to align the interests of senior management and unit managers. This paper evaluates the causal relationship between performance-based salaries and managers’ effective performance. We use a fixed effects estimator to analyze an unbalanced panel of data from one of the largest Brazilian retail banks during the period from January 2007 to June 2009. The results indicate that agents with guaranteed variable salary contracts demonstrate inferior performance compared with agents who have performance-based compensation packages. We conclude that there is a moral hazard that can be observed in the behavior of agents who are subject to guaranteed variable salary contracts.

Dança Folclórica: um estudo das qualidades físicas básicas em universitários de diferentes níveis técnicos

Health and life quality can be preserved and improved by the regular practice of physical activity. Sedentarism is an undesirable condition and represents risk for the health. This study has as objective to analyze the caloric cost and the basic physical qualities in college students of different technical levels. The research was descriptive and applied to 35 students, volunteers, from 19 to 34 years old, from both sexes, participants of the Dance Body of State University of Piauí, in the city of Teresina, in the activities of folkloric dance and walking. The caloric cost was evaluated with the accelerometer Caltrac 100/100 Plan, the basic physical qualities through the sitting and reaching test (flexibility); the vertical impulsion test, crouch (inferior members strength); the abdominal test (located muscular resistance); and the Burpee test (motor coordination). The participants were separated in two groups according to their time of practice: group 1 (beginners), group 2 (advanced). The parametric tests t by Student and correlation by Pearson were used, observing a significance p<0,05 in the sense of comparing the observed results, which showed that there are no significant differences between the two groups of students, according to the time of practice, in which concerns the caloric cost. The results of Strength, Resistance and Co-ordination test did not differ so much between the two groups. On the other hand, in the variable flexibility significant differences were observed (sig.p = 0,0022 << 0,05) between the observed groups, being Group 1 (31,5 ± 6,3) meaningfully less than Group 2 (38,1 ± 4,9), which constitutes a difference of about 21%. Such results present relations of caloric cost compensation between the studied groups, the motivation to the beginners group and flexibility to tne advanced group, justifying the lack of significant distinctions. In this sense the folkloric dance, as a physical activity, appears to be efficient, for significant co-relations are still noticed between the caloric cost levels of the dance with the walking, besides not presenting expressive differences between them.

Load compensation in four-wire electrical power systems

This work describes a methodology for power factor control and correction of the unbalanced currents in four-wire electric circuits. The methodology is based on the insertion of two compensation networks, one wye-grounded neutral and another in delta, in parallel to the load. The mathematical development has been proposed in previous work [3]. In this paper, however, the methodology was adapted to accept different power factors for the system to be compensated. on the other hand, the determination of the compensation susceptances is based on the instantaneous values of the load currents. The results are obtained using the MatLab - Simulink environment.

Design of fuzzy regulators with optimal initial conditions compensation

In almost all cases, the goal of the design of automatic control systems is to obtain the parameters of the controllers, which are described by differential equations. In general, the controller is artificially built and it is possible to update its initial conditions. In the design of optimal quadratic regulators, the initial conditions of the controller can be changed in an optimal way and they can improve the performance of the controlled system. Following this idea, a LNU-based design procedure to update the initial conditions of PI controllers, considering the nonlinear plant described by Takagi-Sugeno fuzzy models, is presented. The importance of the proposed method is that it also allows other specifications, such as, the decay rate and constraints on control input and output. The application in the control of an inverted pendulum illustrates the effectively of proposed method.

Real-time multi-sensors measurement system with temperature effects compensation for impedance-based structural health monitoring

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Ventilatory compensation of the alkaline tide during digestion in the snake Boa constrictor

The increased metabolic rate during digestion is associated with changes in arterial acid-base parameters that are caused by gastric acid secretion (the 'alkaline tide'). Net transfer of HCl to the stomach lumen causes an increase in plasma HCO3- levels, but arterial pH does not change because of a ventilatory compensation that counters the metabolic alkalosis. It seems, therefore, that ventilation is controlled to preserve pH and not P-CO2, during the postprandial period. To investigate this possibility, we determined arterial acid-base parameters and the metabolic response to digestion in the snake Boa constrictor, where gastric acid secretion was inhibited pharmacologically by oral administration of omeprazole. The increase in oxygen consumption of omeprazole-treated snakes after ingestion of 30% of their own body mass was quantitatively similar to the response in untreated snakes, although the peak of the metabolic response occurred later (36 h versus 24 h). Untreated control animals exhibited a large increase in arterial plasma HCO3- concentration of approximately 12 mmol 1(-1), but arterial pH only increased by 0.12 pH units because of a simultaneous increase in arterial P-CO2 by about 10 mmHg. Omeprazole virtually abolished the changes in arterial pH and plasma HCO3- concentration during digestion and there was no increase in arterial P-CO2. The increased arterial P-CO2 during digestion is not caused, therefore, by the increased metabolism during digestion or a lower ventilatory responsiveness to ventilatory stimuli during a presumably relaxed state in digestion. Furthermore, the constant arterial P-CO2, in the absence of an alkaline tide, of omeprazole-treated snakes strongly suggests that pH rather than P-CO2 normally affects chemoreceptor activity and ventilatory drive.

The Influence of Solutes on the Enthalpy/Entropy Change of the Actinomycin D Binding to DNA: Hydration, Energy Compensation and Long-Range Deformation on DNA

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Enthalpy-entropy compensation based on isotherms of mango

Dados de equilíbrio da umidade da polpa de manga foram determinados utilizando-se o método estático gravimétrico. As isotermas de adsorção e dessorção foram obtidas na faixa de 30-70 ºC e as atividades de água (a w) de 0,02 a 0,97. A utilização do modelo de GAB nos resultados experimentais, através da análise de regressão não linear, proporcionou um bom ajuste entre os dados experimentais e os valores calculados. O calor isostérico de sorção foi estimado a partir dos dados de equilíbrio de sorção, utilizando-se a equação de Clausius-Clayperon. Notou-se que os calores isostéricos de sorção crescem com o aumento da temperatura e pode ser bem ajustado através de uma relação exponencial. A teoria da compensação entalpia-entropia foi aplicada às isotermas de sorção e gráficos deltaH versus deltaS forneceram as temperaturas isocinéticas, indicando um processo de sorção entalpicamente controlado.