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This paper investigates whether and how social-psychological mechanisms, namely reciprocity, demographic similarity, and similar experiences, affect CEO compensation packages with respect to the levels of total, fixed, and short- and mid-term compensation and the variable proportion of the compensation package. We use evidence from Germany as it is considered a prototype of a two-tier board system. Given the primary roles of both the CEO and the chair of the supervisory board, we especially highlight social-psychological mechanisms in the process leading to the final compensation package. Using a hand-collected sample of non-financial constituents of the German HDAX, we find that reciprocity can lead to a compensation package that is more favorable for the CEO. Results on similarity are ambivalent such that the effects of similarity on CEO compensation—both positive and negative—may depend on the dimension of similarity. Finally, the chair’s CEO experience, both inside and outside the focal company, also plays an essential role in shaping CEO compensation. More specifically, CEO experience in general is associated with more favorable compensation. However, having a chair that has been CEO at the focal company correlates with less favorable compensation packages except for when the CEO has also been recruited internally.
A passively Q-switched laser with a nonlinear mirror on the basis of stimulated Brillouin scattering (SBS), generates bursts of pulses with a few 10 ns pulse duration and a separation between 20-90 mu s. Percussion drilling and trepanning are performed in different materials with 1 mm thickness. The optimum parameter set of these pulse trains with regard to the burr height and ablation rate is investigated. Differences in the processing results between single pulse and multi pulse structures are discussed. In addition the laser allowed for transiently mode locked operation. Results for mode locked and merely Q-switched operation were compared
Modern routing algorithms reduce query time by depending heavily on preprocessed data. The recently developed Navigation Data Standard (NDS) enforces a separation between algorithms and map data, rendering preprocessing inapplicable. Furthermore, map data is partitioned into tiles with respect to their geographic coordinates. With the limited memory found in portable devices, the number of tiles loaded becomes the major factor for run time. We study routing under these restrictions and present new algorithms as well as empirical evaluations. Our results show that, on average, the most efficient algorithm presented uses more than 20 times fewer tile loads than a normal A*.