This paper examines the relationship between executive compensation – in the form ofvariable pay – and earnings management. Since most research is done on Americancompanies, and Swedish companies are adopting a more Anglo-American compensationstructure, we would like to study this in Sweden. We hypothesize that CEOs with highervariable pay are more likely to engage in earnings management. This study is done onSwedish companies listed on Large- and Mid-Cap. Using data from the companies’ annualreports we find no significant relationship between variable pay and discretionary accrualsusing our regression. / Denna studie undersöker relationen mellan kompensation till ledande befattningshavare –den del av lönen som är rörlig - och manipulering av intäkter. Då större delen av tidigareforskning har fokuserat på amerikanska företag, och svenska företag anammar en mer angloamerikanskstruktur av kompensation, vill vi undersöka detta i Sverige. Vi kommer fram tillen hypotes där vi antar att en VD med högre rörlig lön är mer trolig att manipulera intäkter.Studien är gjord på svenska företag listade på Large och Mid Cap. Genom att använda datafrån företagens årsredovisningar och Datastream hittar vi genom våra regressioner ingasamband mellan rörlig lön och diskretionära periodiseringar.

Most research on place in retailing and marketing examines retail atmospherics, spectacular consumption, third spaces and logistics. This study lies at the confluence of retailing, marketing, and geography, and focuses on the city as the product consumed by its residents. The study seeks to examine the degree to which the retail landscape of a city affects the residents' perceived value of the city, their urban identity, and ultimately, their willingness-to-pay to live there. In order to answer this question, this study utilized mixed research methods consisting of a survey, based on several adapted existing perceived value scales; an urban identity scale; a willingness-to-pay scale; as well as archival geodata used to map the existing and perceived retail landscapes of Tucson and San Francisco–the two cities of interest in this study. These two cities were chosen because they are on opposite ends of a spectrum of US cities that includes cost of living and median income, among other variables. Results show that perceived value of the city and urban identity are very highly correlated and suggest the existence of a new construct. While the retail landscape in Tucson tends to have a positive effect on residents' affective responses to living there, there results are not statistically significant. The relatively low cost of living may play a role in these expectations. Residents accept the existing retail landscape and tend to make do with the options available. In San Francisco, because residents already pay a premium to live there, the retail landscape plays a more statistically significant role in residents' affective responses to living there. These results are important to retailers and marketers because retail expenditures form a large part of the tax revenue a city earns each year. If residents are unhappy with their retail patronage options, they may spend money elsewhere resulting in a decreased tax base from which to run the city.

<p> </p><p>The purpose of this thesis is to understand the opinions and potential effects of objective and subjective assessments of performance as a basis for performance pay for blue-collar workers.</p><p>The study takes a qualitative approach to find out how and why four companies - Trelleborg Forsheda, Finnveden Powertrain, Isaberg Rapid and Parker Hannifin- work with salaries, incentive system and performance assessment the way they do.</p><p>The concept of individual salary is central in this thesis, and individual salary is based on four criteria; capabilities, performance, work demand and formal competence. These can be divided in subjective or objective criteria. Individual salaries also contribute to salary divergence, which in many studies have indicated higher performance. Important to remember is that it has to exist a purpose to salary divergence and how salary is diverged in the company is related to the goals and strategy of the company. If the company chooses to have performance based salaries- which is salary divergence- another question arise; what is good performance?</p><p>In organizations that have performance salaries, a group or an individual (often the middle manager) have to decide if a certain group of personnel performs good or bad. This can mainly be done in two different ways; objective performance assessment or subjective performance assessment. Objective performance assessment is based on numerical calculation of measures, which will form the basis for rewarding employees using a salary system that reward performance. Subjective performance measurements are based on judgment. Instead of relying on numerical calculations, one evaluates if the results reflect good or bad performance.</p><p>For both methods it is essential that the personnel feels that the salaries are fair, and that the salary system is clear and easy to understand. Something else that is important to understand is that employer and employee have different views in what is a fair salary.</p><p>Objective assessments are based on numerical calculations of measures, and one important property such measures have is that they don’t leave any room for excuses. Research indicate that performance pay has important motivation enhancing effects, but the profitability doesn’t always benefit from it. When monitoring costs are high, or product quality or long term thinking is required, hourly wages may be preferable. Tasks which are measured, will naturally be prioritized by the organization. This means that the choice of measures is very important. The amount of measures mustn’t be too high, and they have to be carefully considered. Subjective assessments are the opposite to objective ones. The advantages with subjective performance assessments are, among other things, that additional information which have surfaced during the period of measurements can be taken into consideration, errors in the measurement process can be corrected and unlucky circumstances can be dealt with. However, problems exist in unfair assessments, which are based on prejudice.</p><p>Findings in this report shows that profitable companies have large differences in their salary systems. This is also supported by other research. The company Isaberg Rapid AB only uses objective criteria, focused on simplicity and group rewards. Finnveden Powertrain on the other hand, has a system focused on individuals and subjective assessments. Some conclusions could be drawn; one of the most important being that connections between the type of activities and the salary system is positive, and that salary systems have to be updated and revised continuously.</p><p> </p>

Thesis (MComm)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: Pay satisfaction is an essential aim in any company’s reward system, since various studies indicate that it affects employee job performance. With limited resources and restricted capacity to increase pay, firms require a better understanding of how employee pay satisfaction develops and how employee work-related behaviour is affected by pay satisfaction. The purpose of this study was threefold: First, to investigate the relationship between actual pay and pay satisfaction, and second, to explore the effect that pay motivation dimensions derived from expectancy theory (Vroom, 1964) — pay valence and pay instrumentality — have on this relationship. Lastly, the study aimed to explore the relative effects of these objective (pay) and subjective (pay perceptions) variables on employee job performance. Self-report survey data of managerial employees (N = 177) from a South African retail organisation were collected, along with supervisor ratings of job performance and objective actual pay data, for each participant. The Pay Satisfaction Questionnaire (PSQ) and a selfdeveloped Pay Valence and Instrumentality Questionnaire (PVIQ) were administered through an intranet-based survey. Data were analysed with a variety of statistical techniques. Descriptive statistics were used to assess underlying assumptions of the multivariate analysis techniques used to analyse the research data, and to describe the central tendency and dispersion of study variables. Pearson product moment correlations were calculated to assess bivariate relationships. Standard multiple regression analysis was utilised to assess the joint relationship between IVs and DVs, and relative weights analysis (RWA) to assess the relative importance of IVs within respective regression models. Moderated multiple regression (MMR) analysis was used to examine possible moderator effects. To determine whether mediating (indirect) influences were present, normal theory and bootstrap estimates of indirect effects were obtained. In this research, selected antecedents and consequences of pay satisfaction were investigated. Regarding antecedents of pay satisfaction, the results suggested that actual pay had a small but significant effect on pay satisfaction, but not pay valence, nor pay instrumentality. Pay motivation perceptions (pay valence and pay instrumentality) neither moderated, nor mediated, the relationship between pay and pay satisfaction. The consequences of pay perceptions, in conjunction with actual pay, were also assessed. Pay satisfaction had no statistically significant relationship with job performance (p > .05), although actual pay had a moderate association with job performance. Although pay perceptions slightly incremented the validity of predicting performance from actual pay itself, this increment was not statistically significant (p < .05). In summary, the present research highlights the central role of actual pay in influencing pay satisfaction and job performance, but questions still remain about the way in which performance results from pay, since pay satisfaction did not mediate this relationship. The implications for future research are discussed and recommendations for research are made. / AFRIKAANSE OPSOMMING: Vergoedingstevredenheid is noodsaaklike doelwit in maatskappy se vergoedingsisteem en verskeie studies toon hoe dit werksprestasie van werknemers positief beïnvloed. Aangesien maatskappye oor beperkte hulpbronne en kapasiteit beskik om vergoeding te verhoog, word ‘n beter begrip vereis oor hoe werknemers se gedrag deur vergoedingstevredenheid beïnvloed word. Die doel van hierdie studie was drieledig: eerstens, om die verband tussen werklike vergoeding en vergoedingstevredenheid te ondersoek, en tweedens, om die effek van vergoedingsmotiveringsdimensies — afgelei van die verwagtingsteorie (Vroom, 1964), naamlik betalingsvalensie en betalingsinstrumentaliteit — en die verband te ondersoek. Derdens, om die invloed van hierdie objektiewe (vergoeding) en subjektiewe (vergoedingspersepsies) veranderlikes op werknemerprestasie te ondersoek. Die data is in Suid-Afrikaanse kleinhandelsonderneming versamel. Die volgende inligting is bekom van deelnemers: selfrapporteringsdata vanaf werknemers in bestuursposte (N = 177), werksprestasiebeoordelings deur hul onderskeie toesighouers, asook objektiewe werklike vergoedingsvlakke vir elke respondent. Die Vergoedingstevredenheidsvraelys en die selfontwikkelde Betalingsvalensie- en Instrumentaliteitvraelys is deur intranetopname geadministreer. Die data is met behulp van verskeidenheid statistiese tegnieke ontleed. Beskrywende statistiek is gebruik om die onderliggende aannames van meerveranderlike analise in die navorsingsdata te evalueer, en die sentrale neiging en verspreiding van die studieveranderlikes te beskryf. Pearsonprodukkorrelasiestatistiek is gebruik om die beduidendheid van die hipoteses rakende tweeveranderlike korrelasies te evalueer. Standaard meervoudige regressie-analise is gebruik om die gesamentlike verwantskap tussen onafhanklike veranderlikes en afhanklike veranderlikes te evalueer. Relatiewegewigte-analise (RWA) was gebruik om die relatiewe belangrikheid van onafhanklike veranderlikes, binne die onderskeie modelle, te evalueer. Gemodereerde meervoudige regressie-(MMR)-analise is gebruik om die moontlike bemiddelende uitwerking van veranderlikes te ondersoek. Normale teorie en “bootstrap”-raming van die indirekte invloede van veranderlikes is verkry om die moontlike mediëring van verbandskappe te evalueer. In hierdie navorsing is die voorafgaande faktore, sowel as die gevolge van, vergoedingstevredenheid ondersoek. Wat die oorsake van vergoedingstevredenheid betref, het die resultate aangedui dat werklike vergoedingsvlakke klein, maar wel statisties beduidende uitwerking het op vergoedingstevredenheid, terwyl betalingsvalensie en betalingsinstrumentaliteit geen beduidende uitwerking getoon het nie. Verder toon die resultate dat die verband tussen betaling en vergoedingstevredenheid word nie deur vergoedingsmotiveringspersepsies (betalingsvalensie en betalingsinstrumentaliteit) bemiddel of medieër nie. Die nagevolge van vergoedingspersepsies is onderling met werklike betaling ondersoek. Vergoedingstevredenheid het geen statistiese beduidende verband met werksprestasie getoon nie, tog het werklike betaling matige verband met werksprestasie getoon. Alhoewel betalingspersepsies die geldigheid van die voorspelling van werksprestasie vanaf werklike betaling inkrementeer, toon dit nie beduidende effek (p < .05) nie. Die huidige navorsing beklemtoon die sentrale rol wat werklike betaling steeds in die beïnvloeding van vergoedingstevredenheid en werksprestasie speel, hoewel die rede vir die verband tussen werklike betaling en prestasie steeds nie ten volle begryp word nie, aangesien vergoedingstevredenheid nie hierdie verband medieër nie. Beperkinge van die navorsing, asook die implikasies vir vergoedingspraktyk en toekomstige navorsing word bespreek.

The aim of this study is to quantify the social cost of air pollution in Bophelong Township. Bophelong is a dominantly Black low-income settlement located on the South-western part of the Emfuleni Local Municipality in the Vaal Triangle. In 2006 the Vaal Triangle was the first region in the country to be declared an Airshed Priority Area in terms of the National Environmental Management Act (39/2004). Economic literature reveals that there is a strong positive correlation between poverty and pollution. It is on this basis that the study provides a theoretical background to poverty and pollution. The study makes use of a Contingent valuation method to elicit respondents‘ maximum willingness to pay for the reduction of air-pollution in the area. The survey questionnaire covers three broad socio-economic categories namely, the demographic profile, labour force profile and the residents‘ attitudes towards environmental issues. The valuation part of the questionnaire makes use of an open-ended questionnaire to elicit the respondents‘ maximum willingness to pay for the reduction of air pollution in Bophelong. The mean willingness to pay for the reduction of air-pollution in Bophelong is estimated at R132 per annum. The annual social cost of air-pollution in Bophelong is calculated by multiplying the mean willingness to pay with the estimated total population. Bophelong‘s total population was estimated at 49 408. The annual social cost of pollution is thus estimated at R6 521 856. The regression analysis shows that several factors positively influence respondents‘ willingness to pay. The analysis shows that education, employment and level of income are positively correlated with the respondents‘ willingness to pay. This study indicates that there is a positive correlation between poverty and pollution. Most of the air pollution that affects the population of Bophelong is generated from domestic sources such as the burning of coal and biomass fuels for VALUING THE SOCIAL COST OF AIR-POLLUTION IN BOPHELONG TOWNSHIP heating and cooking purposes. In order to eliminate the negative impacts of air pollution on the residents of Bophelong the study recommends that authorities must begin by ameliorating the poverty situation in the area. On the main authorities must introduce measures that target domestic sources of pollution. Some of the measures that could be undertaken to reduce the impact of pollution could include: (a) encouraging residents to adopt the more cleaner top-down coal ignition method known as Basa-njengo-Magogo, (b) providing free basic electricity to poor households in the area and (c) ensuring that houses are constructed with thermal comfort in mind, as this will minimise the need for space heating particularly during winter months. / PhD (Economics), North-West University, Vaal Triangle Campus, 2013

Intensive research activities in low-income countries during the International Drinking Water Supply and Sanitation Decade (1981-1990) led to the conclusion that cost recovery is a prerequisite for the sustainability of water services provision. The challenges for cost recovery are greater in urban areas of low-income countries where, it is projected, 88% of all the increase in global population will live by 2015. In spite of these challenges, available data show that the bill collection efficiency in selected urban water utilities in Africa in 1996/97 ranged from as low as 50%. This study used empirical data, obtained through a cross-sectional survey in eleven towns in Uganda, to establish the influence of customer perceptions on bill payment behaviour. Using qualitative methods, a questionnaire was developed, pretested, piloted and refined, before it was sent to a probability sample of 690 registered customers of an urban water utility. Regression analysis of the obtained results showed that customer perceptions of technical quality, functional quality, service value and corporate image are individually strongly related to customer satisfaction. Correspondingly, service value and customer satisfaction predict substantial variation in customer loyalty, which in turn is a predictor of bill payment behaviour. Furthermore, gender, level of education, and type of occupation of the head of household, together with tenure status and household income, moderate the satisfaction/loyalty relationship. Findings of this research also highlighted the relative importance to customers of urban water utilities of such software attributes as: (i) how interface staff relate to customers during service encounters; (ii) how easy it is to transact with the utility, and (iii) the image organisational personalities project to the public. These findings have one major implication for supply-driven managers of water utilities: Similar to other services, customer orientation will improve profitability ratios in the urban water sector of low-income countries.

Women are paid less than men in comparable occupations when human capital factors are controlled for. This gender pay gap is particularly prominent in upper management where on average female leaders are allocated 30 per cent less pay than male leaders. This thesis examines the underlying causes and the consequences of the gender pay gap in managerial positions by considering the organisational context (i.e., company performance) and social context (i.e., women’s experiences in the workplace) in which these differences emerge. First, three studies identify and examine gender disparities in the way in which performance-based pay is allocated as a function of company performance. Second, a survey study takes the perspective of leaders themselves by considering gender differences in pay-related attitudes and their relationship to distinct gendered experiences in the workplace. An archival study (Study 1, N = 192), an experiment (Study 2, N = 201), and a survey (Study 3, N = 180) investigated the role of gender in the relationship between managerial bonuses and company performance. In studies 1 and 3 the bonuses awarded to men were larger than those allocated to women. Moreover, while the compensation of male leaders was sensitive to performance, such that they received greater bonuses the better their company performed, the bonuses awarded to female directors were not sensitive to performance across all three studies. The psychological processes related to this phenomenon were explored in Study 2. It was found that, for a male leader, increasing company performance simply led to larger performance-related bonuses. However, for a female leader, the allocation of a bonus was based on perceptions of her charisma and leadership ability rather than resulting directly from company performance. v Study 4 examines gender similarities and differences in attitudes towards pay and pay negotiations. In a sample of 180 employees with managerial responsibilities, no gender differences in attitudes about the importance of pay were found. However, while female participants felt less confident than men about asking for pay rises, this was, at least in part, explained by their negative workplace experiences, such as feeling to have to invest more time and effort in order to achieve a pay rise and fearing negative responses when making pay demands. The importance of integrating the organisational and social context in the analysis of the gender pay gap is discussed in light of the limitations of a primarily individualistic approach. The role of the organisational context in moderating the attributional dynamics surrounding pay and evaluation patterns is explained within the framework of literature on the romance of leadership and gender stereotypes. The social context is considered in terms of the role of societal beliefs which may influence women’s decisions to opt out of top managerial jobs and their lack of confidence with pay negotiations. Finally, these findings are used to critique the tendency to blame women themselves for gender disparities in pay and their under-representation in managerial jobs, and instead I argue that it is organisational indifference towards women that perpetuates the gender pay gap.

Marketing literature has propagated “customer-participation” and “co-production” in the seller-buyer framework since the 1970s (Lovelock and Young 1979), yet marketing knowledge gaps exist in this area. Recent management research emphasise the need to re-evaluate how value is created for consumers and to consider the close nature of the interactions between buyers and sellers (Payne et al 2008). Vargo and Lusch’s (2004) proposed service-dominant logic reiterates this need, arguing that the “customer is always the co-creator of value”, as they are part of the system that delivers value. Understanding value co-creation is then important to management research, as it uncovers new opportunities to create “value” for customers. This also enables firms to formulate better pricing strategies. This thesis examines value co-creation attributes and how they may impact on the customer’s willingness to pay. Three studies utilising qualitative and quantitative methods have been conducted to address the research question. The first two studies employed qualitative methods to derive insights into value co-creation attributes from a comparative case study perspective under two different service contexts; the defence and healthcare industries. The third study, conducted under the higher education context, employed quantitative methods to gauge the impact of value co-creation attributes on the customers’ willingness to pay. The qualitative studies found six generic value co-creation attributes, while the quantitative study empirically verified the importance of value co-creation attributes and the fact that they may impact on the customer’s willingness to pay for a service. This thesis validates that value co-creation is important in service provision. As customers become increasingly informed and empowered, a deeper understanding of how customers co-create value with the firm is then central to marketing activities, specifically in how firms design and price their services. Therefore, this thesis contributes to marketing knowledge by proposing value co-creation attributes that have both theoretical and managerial implications.

Syfte: Vår studie tar avstamp i det som tidigare forskning beskrivit som ett gap mellan konsumenters attityd och beteende till etisk konsumtion. Utifrån en efterfråga om ytterligare kartläggning och en upplevd avsaknad av studier som undersöker betydelsen av kunskap för betalningsvilja och konsumtion till fairtrade-produkter har vi därför formulerat följande syfte: "Syftet med studien är att få djupare förståelse för förhållandet mellan konsumenters kunskap om etisk märkning och deras konsumtion samt betalningsvilja för etiskt märkta-produkter." Metod: En enkätundersökning utfördes på Ica Maxi i Gävle där 143 slumpvis valda respondenter deltog. Respondenterna fick besvara frågor angående deras subjektiva ochobjektiva kunskap i avseende till fairtrade och därefter värdesätta priset för märkningen på tre utvalda produkter; banan, kaffe och honung. Utifrån detta kunde ett förhållande utläsas mellan kunskap och betalningsvilja. Resultat och slutsats: Resultatet av vår undersökning visar ett positiv samband mellan konsumentkunskap och betalningsvilja samt konsumtion. Objektiv kunskap hade en större positiv påverkan på respondenternas betalningsvilja för fairtrade-produkter medan subjektiv kunskap hade större påverkan på uppskattad konsumtion och inställning. Fortsättningsvis kunde vi utläsa en generellt förhöjd betalningsvilja för fairtrade på samtliga utvalda produkter. Förslag till vidare forskning: Vi har i denna studie inte mätt respondenternas faktiska betalningsvilja eller faktiska konsumtion. Vidare forskning skulle således kunna undersöka betydelsen av kunskap om etisk märkning för betalningsviljan i verkliga marknadssituationer. Uppsatsens bidrag: Denna studie pekar på vikten av konsumentkunskap för etisk konsumtion. Bidraget är förståelsen för rollen objektiv och subjektiv kunskap spelar för att få konsumenter att inkludera etiskt märkta produkter i deras konsumentval samt  vara villiga att betala det pris premium som vanligtvis föreligger på fairtrade-märkta produkter. / Aim: Our study builds on what previous research has described as a gap between consumers' attitudes and behaviour to ethical consumption. Based on the request for additional mapping and a perceived lack of studies investigating the importance of knowledge to willingness to pay and consumption for fair trade products, we have formulated the following purpose: "The purpose of the study is to gain a deeper understanding of the relationship between consumers' knowledge on ethical labelling and their consumption together with willingness to pay for ethical labelled products." Method: In this study, we performed a quantitative survey at the food store Ica Maxi in Gävle with 143 randomly selected respondents' who completed the questionnaire.The respondents where asked to answer questions regarding their subjective and objective knowledge regarding fairtrade and then price three different food products labelled with fairtrade with the price of the equivalent product without label stated as a reference point. The products were; banana, coffee and honey. Through this we could examine the relationship between knowledge and willingness to pay. Result &amp; Conclusion: The result of our survey show that the level of knowledge affects purchase intent and willingness to pay for fairtrade products. We also found a distinction between subjective and objective knowledge. Subjective knowledge had a more distinct affect on consumption and attitude while objective knowledge affected the willingness to pay to a greater extent. Furthermore it was found that the average willingness to pay for a fairtrade label exceeded the equivalent products without label for all examined products.<img src="file:///page5image1176" /> Further research: In this thesis we did not research the respondents' actual willingness to pay nor actual consumption behaviour. Further research should hence examine the importance of knowledge on ethical labelling for willingness to pay in actual market situations Contribution of the thesis: This study points out the importance of consumer knowledge for ethical consumption. The contribution is additional understanding to therole subjective and objective knowledge plays for consumers to include ethical labelled products in their product choice and also being willing to pay the current market price premium for fairtrade labelled products.

Approved for public release, distribution is unlimited / The enlisted personnel assignment process is a major part in the United States Navy's Personnel Distribution system. It ensures warfighters and supporting activities receive the right sailor with the right training to the right billet at the right time (R4) and is a critical element in meeting the challenges of Seapower 21 and Global CONOPS. In order to attain these optimal goals the ways-to-do-it need to be customer-centered and should optimize both, the Navy's needs and the sailor's interests. Recent studies and a detailing pilot in 2002 used a web-based marketplace with two-sided matching mechanisms to accomplish this vision. This research examines the introduction of an Assignment Incentive Pay (AIP) as part of the U.S. Navy's enlisted personnel assignment process in a simulation environment. It uses a previously developed simulation tool, including the Deferred Acceptance (DA) and the Linear Programming (LP) matching algorithm to simulate the assignment process. The results of the sensitivity analysis suggested that the Navy should mainly emphasize sailor quality rather than saving AIP funds in order to maximize utility and the possible matches. When adopting such an introduction policy also the percentage of unstable matches under the LP as the matching algorithm was reduced. / Commander, German Navy