The impact of institutional complexity and top management characteristics on executive compensation and firm performance

While most studies take a dyadic view when examining the environmental difference between the home country of a multinational enterprise (MNE) and a particular foreign country, they ignore that an MNE is managing a network of subsidiaries embedded in diverse environments. Additionally, neither the impacts of global environments on top executives nor the effects of top executives’ capabilities to handle institutional complexity are fully explored. Thus, using a three-essay format, this dissertation tried to fill these gaps by addressing the effects of institutional complexity and top management characteristics on top executive compensation and firm performance. ^ Essay 1 investigated the impact of an MNE’s institutional complexity, or the diversity of national institutions facing an MNE’s network of subsidiaries, on the top management team (TMT) compensation. This essay proposed that greater political and cultural complexity leads to not only greater TMT total compensation but also to a greater portion of TMT compensation linked with long-term performance. The arguments are supported in this essay by using an unbalanced panel dataset including 296 U.S. firms with 1,340 observations. ^ Essay 2 explored TMT social capital and its moderating role on value creation and appropriation by the chief executive officer (CEO). Using a sample with 548 U.S. firms and 2,010 observations, it found that greater TMT social capital does facilitate the effects of CEO intellectual capital and social capital on firm growth. Finally, essay 3 examined the performance implications for the fit between managerial information-processing capabilities and institutional complexity. It proposed that institutional complexity is associated with the needs of information-processing. On the other hand, smaller TMT turnover and larger TMT size reflect larger managerial information-processing capabilities. Consequently, superior performance is achieved by the match among institutional complexity, TMT turnover, and TMT size. All hypotheses in essay 3 are supported in a sample of 301 U.S. firms and 1,404 observations. ^ To conclude, this dissertation advances and extends our knowledge on the roles of institutional environments and top executives on firm performance and top executive compensation.^

Reviewing the hedge funds literature II:hedge funds' returns and risk management characteristics

This paper summarizes the literature on hedge funds (HFs) developed over the last two decades, particularly that which relates to risk management characteristics (a companion piece investigates the managerial characteristics of HFs). It discusses the successes and the shortfalls to date in developing more sophisticated risk management frameworks and tools to measure and monitor HF risks, and the empirical evidence on the role of the HFs and their investment behaviour and risk management practices on the stability of the financial system. It also classifies the HF literature considering the most recent contributions and, particularly, the regulatory developments after the 2007 financial crisis.

Social rules for managing attempted interpersonal domination in the workplace: Influence of status and gender.

The present study utilized a social rules approach to investigate the relative influence of gender and status on managers' self-evaluations of their effectiveness in handling a dominating subordinate. In the first study 84 White middle-class participants identified the prescriptive and proscriptive rules for socially appropriate responding to a stimulus situation involving a pushy subordinate. Four rule sets were identified for female and male managers and subordinates, respectively. Rule-sets shared a number of common rules and showed some variation according to gender roles. In the second study, 91 White middle-class participants rated the individual rules for importance and also rated their personal and managerial effectiveness when responding to the stimulus situation using gender- and status-consistent and gender-and status-inconsistent response strategies. Both men and women rated the female gender and status- consistent strategy as most effective, and rated the status-inconsistent strategy as less effective than a gender-inconsistent response. Results were interpreted as providing more support for a situational gender-related theory of workplace behavior, rather than a traditional gender role perspective.

Reinforcing the glass ceiling: The consequences of hostile sexism for female managerial candidates

Previous research has established that benevolent sexism is related to the negative evaluation of women who violate specific norms for behavior. Research has yet to document the causal impact of hostile sexism on evaluations of individual targets. Correlational evidence and ambivalent sexism theory led us to predict that hostile sexism would be associated with negative evaluations of a female candidate for a masculine-typed occupational role. Participants completed the ASI (P. Glick & S. T. Fiske, 1996) and evaluated a curriculum vitae from either a male or female candidate. Higher hostile sexism was significantly associated with more negative evaluations of the female candidate and with lower recommendations that she be employed as a manager. Conversely, higher hostile sexism was significantly associated with higher recommendations that a male candidate should be employed as a manager. Benevolent sexism was unrelated to evaluations and recommendations in this context. The findings support the hypothesis that hostile, but not benevolent, sexism results in negativity toward individual women who pose a threat to men's status in the workplace.

Influence of socioeconomic factors on delays, management and boutcome amongst patients with acute myocardial infarction undergoing primary percutaneous coronary intervention

Background¦The outcome after primary percutaneous coronary intervention (pPCI) for STElevation¦Myocardial Infarction (STEMI) is strongly affected by time delays. In thepresent study, we sought to identify the impact of specific socioeconomic factors on time delays, subsequent STEMI management and outcomes in STEMI patients from a well-defined region of the French part of Switzerland.¦Method¦A total of 402 consecutive patients undergoing pPCI for STEMI in a large tertiary hospital were retrospectively studied. Symptom-to-first-medical-contact time was analyzed for the following socioeconomic factors: level of education, gender, origin and marital status. Main exclusion criteria were: time delay beyond 12 hours, previous treatment by fibrinolysis or patients immediately referred for CABG.¦Therefore, 352 patients were finally included.¦Results¦At one year, there was no difference in mortality amongst the different socioeconomic groups. Furthermore, there was no difference in management characteristics between them. Symptom-to-first-medical-contact time was significantly higher for patients with a low level of education, Swiss citizens and non-married patients with median differences of 40 minutes, 48 minutes, and 60 minutes, respectively (p<0.05).¦Nevertheless, no difference was found regarding in-hospital management and clinical outcome.¦Conclusion¦This study demonstrates that symptom-to-first-medical-contact time is higher amongst people with a lower educational level, Swiss-citizens, and non-married people. Because of the low mortality rate in general, these differences in time delays did not affect clinical outcomes. Still, primary prevention measures should particularly focus on these vulnerable populations.

Influence of socioeconomic factors on delays, management and outcome amongst patients with acute myocardial infarction undergoing primary percutaneous coronary intervention.

The outcome after primary percutaneous coronary intervention (pPCI) for ST-elevation myocardial infarction (STEMI) is strongly affected by time delays. In this study, we sought to identify the impact of specific socioeconomic factors on time delays, subsequent STEMI management and outcomes in STEMI patients undergoing pPCI, who came from a well-defined region of the French part of Switzerland. A total of 402 consecutive patients undergoing pPCI for STEMI in a large tertiary hospital were retrospectively studied. Symptom-to-first-medical-contact time was analysed for the following socioeconomic factors: level of education, origin and marital status. Main exclusion criteria were: time delay beyond 12 hours, previous treatment with fibrinolytic agents or patients immediately referred for coronary artery bypass graft surgery. Therefore, 222 patients were finally included. At 1 year, there was no difference in mortality between the different socioeconomic groups. Furthermore, there was no difference in management characteristics between them. Symptom-to-first-medical-contact time was significantly longer for patients with a low level of education, Swiss citizens and unmarried patients, with median differences of 23 minutes, 18 minutes and 13 minutes, respectively (p <0.05). Nevertheless, no difference was found regarding in-hospital management and clinical outcome. This study demonstrates that symptom-to-first-medical-contact time is longer amongst people with a lower educational level, Swiss citizens and unmarried people. Because of the low mortality rate in general, these differences in delays did not affect clinical outcomes. Still, tertiary prevention measures should particularly focus on these vulnerable populations.

Evaluation of corporate environmental management approaches: A framework and application

This article proposes a framework to evaluate corporate environmental strategies. In the proposed framework, a company's environmental risks are analyzed on two dimensions, One dimension, the endogenous environmental risks, arises from the internal operations of the company. The other dimension, the exogenous environmental risks, are determined by the company's external world: its location, its ecological setting, and the demographic characteristics of the physical environment in which it operates. Four environmental management approaches are defined as a function of endogenous and exogenous environmental risks: reactive, proactive, strategic, and crisis preventive. The framework was applied in a survey of 141 company representatives in Hungary. A relationship was sought between the a priori defined environmental management approaches based on technology and location and the companies' environmental management characteristics defined by senior managers. Variables that differentiated among the four environmental management approaches were identified and ranked. The study concludes that there is a relatively well-defined relationship between the environmental risks of companies and the nature of their environmental management approaches, Implementing a strategic environmental management approach may not be the best option for all companies - although there is a growing pressure to do so.

Characteristics of US Graduate Hospitality Programs

The future of hospitality management education and research lies with its graduate programs, especially those offering research-based M.S. and Ph.D. degrees. In response to a need for additional hospitality faculty because of a growing number of programs, the number of graduate programs in the United States has increased substantially in recent years as well. This article presents an overview of graduate hospitality programs in the United States based on the following aspects: (1) program enrollments, admissions and graduation rates, (2) student profiles, (3) program duration and residency requirements, (4) financial support to graduate students, and (5) students’ career opportunities after graduation. Suggestions for future research are provided.

Reviewing the hedge funds literature I:hedge funds and hedge funds' managerial characteristics

This paper summarizes the literature on hedge funds (HFs) developed over the last two decades, particularly that which relates to managerial characteristics (a companion piece covers the return and risk management characteristics of HFs). It classifies, the current HF literature, suggesting which critical problems have been “solved” and which problems have not been yet adequately addressed. It also discusses the effects of past financial regulation and the prospects for the effect of new financial regulation on the HF industry and its performance and risk management practices, and suggests new avenues for research. Furthermore, it highlights the importance of managerial characteristics for HF performance, and the successes and the shortfalls to date in developing more sophisticated HF-related risk management tools.

Gestão de bloco operatório : modelos de gestão e monitorização

RESUMO - A consciência de uma necessidade clara em rentabilizar a capacidade instalada e os meios tecnológicos e humanos disponíveis no Bloco Operatório e face ao imperativo de um cabal desempenho e de uma adequada efectividade nestes serviços levou-nos à realização deste estudo. Objectivos: O trabalho de projecto centrou-se em quatro objectivos concretos: Elaboração de uma grelha de observação de Modelos de Gestão de Bloco Operatório; Observação de seis Modelos de Gestão de Blocos Operatórios em experiências nacionais e in-loco, de acordo com a grelha de observação; Avaliação da qualidade gestionária na amostra seleccionada à luz dos modelos existentes; Criação de uma grelha de indicadores para a monitorização e avaliação do Bloco Operatório. Metodologia: Na elaboração da grelha de observação dos Blocos Operatórios recorremos a um grupo de peritos, à bibliografia disponível e à informação recolhida em entrevistas. Aplicámos a grelha de observação aos seis Blocos Operatórios e analisámos as informações referentes a cada modelo com a finalidade de encontrar os pontos-chave que mais se destacavam em cada um deles. Para a elaboração da grelha de indicadores de monitorização do Bloco Operatório realizámos uma reunião recorrendo à técnica de grupo nominal para encontrar o nível de consenso entre os peritos. Resultados: Criámos uma grelha de observação de Modelos de Gestão de Bloco Operatório que permite comparar as características de gestão. Esta grelha foi aplicada a seis Blocos Operatórios o que permitiu destacar como elementos principais e de diferenciação: o sistema de incentivos implementado; o sistema informático, de comunicação entre os serviços e de débito directo dos gastos; a existência de uma equipa de gestão de Bloco Operatório e de Gestão de Risco; a importância de um planeamento cirúrgico semanal e da existência de um regulamento do Bloco Operatório. Desenhámos um painel de indicadores para uma monitorização do Bloco Operatório, de onde destacamos: tempo médio de paragem por razões técnicas, tempo médio de paragem por razões operacionais, tempo médio por equipa e tempo médio por procedimento. Considerações finais: Os Blocos Operatórios devem ponderar a existência das componentes mais importantes dos Modelos, bem como recolher exaustivamente indicadores de monitorização. A investigação futura deverá debruçar-se sobre a relação entre os indicadores de monitorização e os Modelos de Gestão, recorrendo à técnicas de benchmarking. -------------------ABSTRACT - This study was driven by the need to optimise available capacity, technology and human resources in the Operating Room and to address the corresponding goals of adequate performance and effectiveness. Objectives: This project focuses on four specific objectives: development of an observation grid of operating room management models; in-loco observation and documentation of six national operating room, according to the grid; assess the quality of management in the selected sample relative to existing management models; create a set of indicators for monitoring and evaluating operating rooms. Methodology: The design of the observation grid was based on experts’ consultation, a literature survey and information gathered in various interviews. The observation grid was applied to six operating rooms and the information for each management model was analysed in order to find its key characteristics. We used the Nominal Group Technique in order to develop a set of indicators for monitoring and evaluating operating rooms. Results: An observation grid was created for operating rooms management models, which allowed comparing management characteristics. This grid was applied to six operating rooms allowing disentangle its main features and differentiating characteristics: implementation of incentive systems; IT systems including information flow between services; inventory and expense management; existence of a management team and effective risk management; importance of weekly planning and regulations. We designed a set control indicators, whose major characteristics are the following: the average down time due to technical reasons, the average down time due to operational reasons, the average time per team and the average time per procedure. Final Conclusions: Operating rooms should consider the most relevant characteristics of management models and collect exhaustive information on control indicators. Future research should be devoted to assessing the operating room performance according to management models, using control indicators and benchmarking techniques.

Plan de seguridad y salud para el suministro y montaje del Parque Eólico Rancho Viejo en el T.M. de Medina-Sidonia (Cádiz)

No hace más de 3 años se podía leer en las revistas especializadas que España había pasado a ocupar el tercer puesto en el ranking mundial por potencia eólica instalada. La industria eólica española a su vez ha pasado a ocupar el tercer puesto en la fabricación e instalación de aerogeneradores, con una cuota de mercado del 13%, siendo así un sector con gran capacidad de exportación. Por otra parte, tras diez años de promulgación de la Ley 31/95, de 8 de noviembre, de Prevención de Riesgos Laborales, y después su desarrollo reglamentario, es un hecho incontestable que, pese a todo, y a los ingentes esfuerzos realizados por los distintos actores implicados en la prevención de riesgos laborales (Estado, Comunidades Autónomas, Agentes Sociales, Entidades especializadas, etcetera), existe un sector como el de la construcción que, constituyendo uno de los ejes del crecimiento económico de nuestro país, está sometido a unos riesgos especiales y continúa registrando una siniestralidad laboral muy notoria por sus cifras y gravedad. La legislación de prevención, los manuales sobre las distintas disciplinas preventivas, los libros especializados, los expertos... han abordado ya, con mayor o menor acierto, muchas de las cuestiones generales y específicas que afectan a la seguridad y salud: la evaluación de riesgos, las medidas higiénicas, los equipos de trabajo y equipos de protección individual, la planificación, la formación, los servicios de prevención , los sistemas de gestión de la prevención, las auditorías ... forman parte de los contenidos que se han ido creando en torno a este tema. No obstante, resulta de gran interés la elaboración de un estudio de Seguridad y Salud, en el que partiendo de un desarrollo técnico concreto, pero sobre todo integral, es decir, que comprenda todas las fases para el suministrp e instalación de aerogeneradores para un parque eólico, vayamos desgranando cada uno de los puntos desarrollados en su construcción. Entre las conclusiones más destacadas de este trabajo, se encuentra la definición de las condiciones relativas a la prevención de accidentes y enfermedades laborales durante la ejecución de los trabajos de suministro e instalación de un parque eólico y la gestión de su prevención, las características de las instalaciones preceptivas para higiene y bienestar de los trabajadores, así como directrices básicas mínimas, que deben reflejarse y desarrollarse en el Plan de Seguridad y Salud que las empresas contratistas deberán presentar para su aprobación por el director de obra, antes del comienzo de los trabajos, de forma que sea posible la disminución de accidentes laborales así como evitar las posibles sanciones administrativas y/o penales.

Plan de seguridad y salud para el suministro y montaje del Parque Eólico Rancho Viejo en el T.M. de Medina-Sidonia (Cádiz)

No hace más de 3 años se podía leer en las revistas especializadas que España había pasado a ocupar el tercer puesto en el ranking mundial por potencia eólica instalada. La industria eólica española a su vez ha pasado a ocupar el tercer puesto en la fabricación e instalación de aerogeneradores, con una cuota de mercado del 13%, siendo así un sector con gran capacidad de exportación. Por otra parte, tras diez años de promulgación de la Ley 31/95, de 8 de noviembre, de Prevención de Riesgos Laborales, y después su desarrollo reglamentario, es un hecho incontestable que, pese a todo, y a los ingentes esfuerzos realizados por los distintos actores implicados en la prevención de riesgos laborales (Estado, Comunidades Autónomas, Agentes Sociales, Entidades especializadas, etcetera), existe un sector como el de la construcción que, constituyendo uno de los ejes del crecimiento económico de nuestro país, está sometido a unos riesgos especiales y continúa registrando una siniestralidad laboral muy notoria por sus cifras y gravedad. La legislación de prevención, los manuales sobre las distintas disciplinas preventivas, los libros especializados, los expertos... han abordado ya, con mayor o menor acierto, muchas de las cuestiones generales y específicas que afectan a la seguridad y salud: la evaluación de riesgos, las medidas higiénicas, los equipos de trabajo y equipos de protección individual, la planificación, la formación, los servicios de prevención , los sistemas de gestión de la prevención, las auditorías ... forman parte de los contenidos que se han ido creando en torno a este tema. No obstante, resulta de gran interés la elaboración de un estudio de Seguridad y Salud, en el que partiendo de un desarrollo técnico concreto, pero sobre todo integral, es decir, que comprenda todas las fases para el suministrp e instalación de aerogeneradores para un parque eólico, vayamos desgranando cada uno de los puntos desarrollados en su construcción. Entre las conclusiones más destacadas de este trabajo, se encuentra la definición de las condiciones relativas a la prevención de accidentes y enfermedades laborales durante la ejecución de los trabajos de suministro e instalación de un parque eólico y la gestión de su prevención, las características de las instalaciones preceptivas para higiene y bienestar de los trabajadores, así como directrices básicas mínimas, que deben reflejarse y desarrollarse en el Plan de Seguridad y Salud que las empresas contratistas deberán presentar para su aprobación por el director de obra, antes del comienzo de los trabajos, de forma que sea posible la disminución de accidentes laborales así como evitar las posibles sanciones administrativas y/o penales.

Improving continence services for older people from the service-providers’ perspective : a qualitative interview study

Objective: To examine in depth the views and experiences of continence service leads in England on key service and continence management characteristics in order to identify and to improve our understanding of barriers to a good-quality service and potential facilitators to develop and to improve services for older people with urinary incontinence (UI). Design: Qualitative semistructured interviews using a purposive sample recruited across 16 continence services. Setting: 3 acute and 13 primary care National Health Service Trusts in England. Participants: 16 continence service leads in England actively treating and managing older people with UI. Results: In terms of barriers to a good-quality service, participants highlighted a failure on the part of commissioners, managers and other health professionals in recognising the problem of UI and in acknowledging the importance of continence for older people and prevalent negative attitudes towards continence and older people. Patient assessment and continence promotion regardless of age, rather than pad provision, were identified as important steps for a good-quality service for older people with UI. More rapid and appropriate patient referral pathways, investment in service capacity, for example, more trained staff and strengthened interservice collaborations and a higher profile within medical and nurse training were specified as being important facilitators for delivering an equitable and highquality continence service. There is a need, however, to consider the accounts given by our participants as perhaps serving the interests of their professional group within the context of interprofessional work. Conclusions: Our data point to important barriers and facilitators of a good-quality service for older people with UI, from the perspective of continence service leads. Further research should address the views of other stakeholders, and explore options for the empirical evaluation of the effectiveness of identified service facilitators.

A reestruturação patrimonial da Caixa Econômica Federal. Uma análise sob a otica dos mecanismos de controle e da gestão do estado

Este trabalho busca, mediante o estudo dos processos de intervenção do Estado, no domínio econômico, correlacionar, com maior abrangência, razões históricas que contribuíram, contribuem ou influenciam para a ocorrência de não conformidades nos negócios públicos. A partir desse entendimento, utiliza-se a CAIXA como objeto de estudo, estando ela inserida em um cenário sob forte influência de diversos fatores históricos, buscando, enquanto empresa pública bancária pertencente ao Estado Brasileiro e dele assumindo características e sujeição a riscos (do próprio Estado e do seu "modus operandi"), continuar, de forma sustentável e progressiva, a implementar políticas públicas e a garantir a sua sobrevivência como instituição bancária tradicional. A CAIXA sempre operou com a dualidade de ser um banco comercial e prover políticas publicas, assumindo riscos, principalmente se for verificado o modelo utilizado na concessão de créditos, notadamente, dos financiamentos habitacionais, fator preponderante ao requerimento de reestruturação patrimonial por parte da empresa. Sua reestruturação foi conseqüência, dentre outros fatores, dessa dualidade. A CAIXA, como agente distribuidor o fazia em detrimento da sua condição de solvência. É a partir da re-capitalização que o trabalho foca-se na verificação de características gerenciais da CAIXA, visando a alternativas que contribuam para a melhoria dos instrumentos de controle e gestão, de forma a garantir sua permanência de forma competitiva no mercado.

Análise de características físicas de agregados de resíduos de construção e demolição, para fins de pavimentação

This work presents the results obtained in analyzes of aggregates from construction and demolition waste produced by the plant of the City of Guaratinguetá. Using this data and comparing with the specifications of NBR 15115, it was found that the materials do not possess the requisite minimum characteristics to be utilized as a basis for low-pavement traffic. In order to identify the main reasons of the material does not fit in the standard, we used the data obtained in a study conducted by Professor. Dr. Luiz Eduardo de Oliveira at the plant of the company AB Environmental Solutions Ltd., located in Pindamonhangaba. With different characteristics, the aggregates from construction and demolition waste produced by this plant showed the possibility of using pavements. The use of these residues in paving reduces the impact on the environment caused by construction.