This study examined the effects of a productivity-indexed pay for performance plan in a professional services firm. The new plan was implemented after productivity decreased under an existing plan. Performance of staff and senior level accountants was analyzed across three departments under a three-year baseline and a two-year intervention period. Several measures of productivity indicated that the intervention was effective in improving production, especially for employees with full annual workloads. Percentage of salaries earned in incentives was comparable for both the baseline and intervention periods. Possible explanations for trends in the data, weaknesses in the plan, and implications for future research are also discussed.

Eutrophication caused by nutrient loads from human activities is considered as one of the most serious environmental threats to the Baltic Sea. Due to climate change, cyanobacterial blooms are expected to increase in the future. This could affect people’s utility of beach recreation negatively in countries surrounding the Baltic. Based on a web survey carried out in south-eastern Sweden, public’s reactions and attitudes to cyanobacterial blooms are analysed. Possible economic impact on Gotland of more widespread blooms are estimated, and public demand for better information is evaluated. The result shows that 30% of the respondents from south-eastern Sweden would consider cancelling their plans of travelling to Gotland with knowledge about forthcoming algal blooms around the island. Determinants of tourists’ tendency to cancel their travel arrangements are earlier negative experiences of algal blooms and concerns regarding their pets’ bathing. The annual local economic loss for Gotland’s tourism industry is estimated to between 15 and 221 million SEK. The median willingness to pay for a mobile application which provides one-day forecasts of algal blooms is 25 SEK on Gotland and 20 SEK in southeastern Sweden. Boat owners, people who visit beaches often and those who travel to Gotland frequently, are more likely to pay for the mobile application. People who think algal blooms are natural show less demand for information.

Mass customization (MC) constitutes a promising strategy for companies which aim to provide products which are better adapted to individual customers' aesthetic and functional preferences. Drawing on commodity theory, we argue that the perceived uniqueness of a self-designed product is a second driver of utility in MC. We find that in addition to the significant effect of aesthetic and functional fit, the perceived uniqueness of a self-designed product (1) contributes independently to the utility a customer experiences, and (2) that this effect is moderated by the consumer's need for uniqueness. In product categories which can serve this counterconformity motive for consumers, this suggests that MC toolkits should be constructed with the objective of facilitating the creation of unique products as well as providing affirmative feedback that this uniqueness has been achieved. (authors' abstract)

After the Great Recession of 2007 there was a spotlight on executive compensation. The magnitude and structure of executive pay became an area of concern to the public. As a result, company management across all sectors had to find a way to offer competitive compensation plans that aligned the interest of shareholders with that of executives. The outcome was an increased focus on tying executive pay to company performance. The level of fixed-pay incorporated into target compensation began to decreases rapidly and was replaced by “at-risk” compensation. For some, this was a major achievement in the world of executive compensation, however, others view this change as potentially dangerous. I chose to analyze the pay-mix structure and annual incentive plans of a group of bellwether companies to see if this transition is increasing company’s exposure to fraud. In this essay I attempt to tie increases in at-risk pay to increases in fraud risk, while identifying incentive goals affected by common fraud practices.

Master of Agribusiness / Department of Agricultural Economics / Vincent R. Amanor-Boadu / While understanding consumer decisions about food choices is complex, the nature of wines makes it even more difficult to decipher how consumers arrive at their choices. Given the perceived importance of "local", how willing are consumers to pay for locally-produced wine? And, what characteristics of the wine influence the premium that consumers pay for it? These are the two related questions that this research seeks to address. The research uses a case study approach to explore how five wine characteristics of local Kansas wine influence the premium consumers are willing to pay. The five characteristics are appearance, aroma, body, taste and finish. The study uses four pairs of wine in the following groups: sweet white, dry white, semi-sweet red and dry red. Each pair is made up of a Kansas wine and a non-Kansas wine. A very well-defined set of focus group participants were invited to taste these wine without knowing the identity of the wines and score them according to their characteristics and then provide an indication of how much they are willing to pay. The case results indicate that the focus group participants were willing to discount Kansas wines in all cases of the four pairs. The factors affecting the discount were finish for sweet white wines, appearance for sweet red wines, taste and aroma for dry white and dry red wines. The implication of this exploratory case study is that while most local residents proclaim their willingness to pay a premium for local wines, when tested against national or international competitors, consumers are unwilling to pay a premium for these local wines because the local wines lack the desired quality the international wines have. The information is important because it provides direction for an entrepreneur seeking to develop local wines to focus on understanding and addressing the characteristics which influence consumers' willingness to pay a premium even as she determines which particular wines current players in the local Kansas industry has the potential to be competitive if they address the characteristics upon which they are penalized by consumers. This, despite this being an exploratory case study, it provides important direction for entrepreneurial action.

I analyze the effect of various risks faced by commercial banks on the executive compensation in banking industry. Commercial bank executives are risk averse due to the regulatory pressure in addition to board governance mechanism. Commercial banks face various risks because of the regulatory mechanism and unique asset structure of the firm. So, it is expected that they should associate their own pay and pay-performance sensitivities (PPS) with the risks their banks face. I find that bank executives associate their performance based pay with both idiosyncratic risk and systematic risk. But they associate their fixed pay only with systematic risk. The risk based PPS is also affected by the idiosyncratic risk but not by the systematic risk. Both asset return risk and insolvency risk have significant positive effect on PPS. Bank executives put significantly higher emphasis on the fixed compensation in terms of salary and bonus, and significantly lower emphasis on the performance based compensation. They also put minimum emphasis on the risk based PPS although they put significant emphasis on return based PPS. These indicate the risk-averse nature of the bank executives due to the regulatory pressure in addition to board governance mechanism.

M.Comm. (Economics) / Gender wage inequality in South Africa from 2001 to 2010 is investigated in this dissertation. This is done through the decomposition of the gender wage gap and quantile regression. It is shown that the gender wage gap in South Africa is highest both at lower and higher parts of the wage distribution. Moreover, the gender wage gaps at the 50th and 75th quantiles are either not statistically significant or they are in favour of women. It is shown that the gender wage gap is largely driven by the size of the coefficients component, even in the face of a positive characteristics component indicating that there is a level of discrimination along the wage distribution. In the assessment of the gender wage gap between black females and white males, it is shown that the gender wage gap is always in favour of white males. However, since it is lowest at higher points of the wage distribution, the conclusion is that black women at lower points of the wage distribution face the most adverse effects of the intersection of race and gender in terms of the gender wage gap. Moreover, black women at higher points of the wage distribution have been the most likely beneficiaries of the employment equity policies.

The dissertation deals with the provisions of law applicable to equal opportunities of women and men in labour-law relationships. In this context, it mainly focuses on employment laws; Act No. 198/2009 Coll. on equal treatment and on legal remedies against discrimination and on amendment of some other acts (the Discrimination Act); and other related laws and regulations applicable in this area. The dissertation is divided into nine main chapters. Its core is comprised of chapters 4 through 8, which contain a detailed analysis of the statutory provisions governing the equal opportunities of women and men in employment in Czech laws, EU laws, and international treaties. Chapters 1 through 3 offer a general introduction to the domain of equal opportunities, while chapter 9 summarises the conclusions and findings of the dissertation. The first chapter explains why the dissertation deals with equal opportunities of women and men in labour-law relationships, and highlights the importance of this issue in international law and in the EU's social policies. This chapter also underlines the extraordinary community-wide significance of this issue. The second chapter contains an analysis of the basic terms used with regard to equal opportunities of women and men in labour-law relationships, and explains the...

The banking sector is central to the economy, but has recurrent dysfunctions. Following the Global Financial Crisis of 2007-2009, regulators have attempted to reform governance in banks. However, previous empirical studies on the effects of governance structures have important gaps. Using an econometric framework with novel simultaneous equations models and new dependent variables, I investigate whether corporate governance and ownership have significant effects on bank risk and performance. I employ a novel data set combining financial data from the Bankscope database with governance and ownership data collected painstakingly by hand from annual reports and Basel Pillar 3 disclosures of UK banks over the period 2003-2012. My findings are supported by interpretation of relevant literature and are summarised as follows (stated along with policy implications in parentheses for which features of banking should be encouraged, based on normative assumptions stated in section 9.3). My work shows that the effects of a particular ownership or governance structure can be attributed to the ways in which categories of decision-maker within the bank are empowered by that structure, and that factors relating to information processing capability have important effects. Mutual and foreign ownership each have negative effects on risk and return because of managerial incentives and information asymmetries, respectively, without either affecting provision of investment to the wider economy. A foreign parent also increases the probability of bank failure (implying mutuality is socially beneficial while foreign ownership is not). A higher NED ratio reduces the probability of bank failure, as does having a remuneration committee, because of greater accounting for risk in decisions (implying they are desirable). The presence of an independent Chairman increases risk because it weakens CEO accountability and confuses decision-making (implying it is undesirable). An independent CRO (as a full Board member) may have similar effects. A higher proportion of Directors with no previous financial services experience increases both returns and the probability of failure because of weaker use of information (implying it is undesirable). Permission to use IRB models lowers risk and return because it provides information to empower risk-averse agents, again without affecting credit provision to the wider economy (implying it is desirable). I report other novel findings on effects of ownership, governance, remuneration and size. These results can guide bank reform.

The aim of this study is to explore what the relevant factors of nurses' attitudes to and at work are. These include the separate but related hypotheses - the nature of the profession and changes in terms of management and training; the nature of the work situation including contracts and pay determination; and the nature of work relations as they impinge on nurse status including relations with co-workers and patients. All of which can be understood and compared with other workers in terms of both labour process and industrial relations as Goldthorpe (1968) did in the study of car workers. In the context of the contemporary Chinese social and political economy, the research also evaluates the roles of the government and how it affects nurses' attitudes to the profession. It is grounded in a case study of 330 nurses in a Chinese public sector hospital, using questionnaires, interviews, and documentary evidence on government policies and hospital practices. The findings suggest that nurses at the case study hospital are frequently put under pressure due to the high number of patients they are expected to care for. This was caused by insufficient government funding for public sector hospitals, and the pressure to improve overall efficiency within the health service. The use of different types of employment contracts for nurses has caused strong resentment among nurses because it fails to award 'equal pay for equal work'. In addition, the current system used in many Chinese hospitals for nurse education, recruitment, training and development, and pay have not helped establish realistic expectations of nursing or rewarded nurses for the work they do effectively.