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May 2000 - Like many Central Asian republics, Uzbekistan has adopted a gradual, cautious approach in its transition to a market economy. It has had some success attaining macroeconomic stability, but microeconomic reforms have lagged behind. It is time to accelerate structural reform. In Uzbekistan state enterprises are being changed into shareholding companies, and private enterprises account for 45 percent of all registered firms. But business decisions to set prices, output, and investment are often not market-based, nor wholly within the purview of businesses, especially those in commercial manufacturing and services. Lines of authority for corporate governance - from state enterprises to private enterprises - are ill-defined, so there is little discipline on corporate performance and little separation between government and business. Nascent frameworks have been created for competition policy (for firms in the commercial sector) and regulatory policy (governing utilities in the infrastructure monopoly sector). But implementation and enforcement have been hampered by old-style instruments (such as price controls) rooted in central planning, by lack of a strong independent regulatory rule-making authority, by the limited understanding of the basic concepts of competition and regulatory reform, and by weak institutional capabilities for analyzing market structure and business performance. Based on fieldwork in Uzbekistan, Broadman recommends: Deepening senior policy officials' understanding of, and appreciation of the benefits from, enterprise competition and how it affects economic growth; Reforming competition policy institutions and legal frameworks in line with the country's goal of strengthening structural reforms and improving macroeconomic policy; Improving the ability of government and associated institutions to assess Uzbekistan's industrial market structure and the determinants of enterprise conduct and performance; Making the authority responsible for competition and regulatory policymaking into an independent agency - a champion of competition - answerable directly to the prime minister; Strengthening incentives and institutions for corporate governance and bringing them in line with international practice; Subjecting infrastructure monopolies to systemic competitive restructuring and unbundling, where appropriate. For other utilities, depoliticize tariff setting and implementation of regulations; ensure that price, output, and investment decisions by service suppliers are procompetitive (creating a level playing field among users); and increase transparency and accountability to the public. This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Regional Office - is part of a larger effort in the region to assess structural reform in Central Asia. The author may be contacted at hbroadman@worldbank.org.

Business Performance --- Competition --- Competition Policy --- Corporate Governance --- Corporate Law --- Corporate Performance --- Debt Markets --- E-Business --- Economic Theory and Research --- Emerging Markets --- Enforcement --- Finance and Financial Sector Development --- Governance --- Investment --- Labor Policies --- Law and Development --- Legal Frameworks --- Macroeconomic Policy --- Macroeconomic Stability --- Macroeconomics and Economic Growth --- Market Economy --- Market Share --- Market Structure --- Markets and Market Access --- Microfinance --- Monopoly --- National Governance --- Output --- Price --- Prices --- Private Sector Development --- Public Sector Corruption and Anticorruption Measures --- Reform Program --- Social Protections and Labor --- Trade --- Trade Associations

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Prodded by economists in the 1970's, corporate directors began adding stock options and bonuses to the already-generous salaries of CEO's with hopes of boosting their companies' fortunes. Guided by largely unproven assumptions, this trend continues today. So what are companies getting in return for all the extra money? Not much, according to the empirical data. In Indispensable and Other Myths: Why the CEO Pay Experiment Failed and How to Fix It, Michael Dorff explores the consequences of this development. He shows how performance pay has not demonstrably improved corporate performance and offers studies showing that performance pay cannot improve performance on the kind of tasks companies ask of their CEO's. Moreover, CEO's of large established companies do not typically have much impact on their companies' results. In this eye-opening exposé, Dorff argues that companies should give up on the decades-long experiment to mold compensation into a corporate governance tool and maps out a rationale for returning to the era of guaranteed salaries.

Chief executive officers -- Salaries, etc. --- Compensation management -- United States. --- Executives -- Salaries, etc. -- United States. --- Chief executive officers --- Executives --- Compensation management --- Business & Economics --- Labor & Workers' Economics --- Salaries, etc --- Salaries, etc. --- CEOs (Executives) --- Executive officers, Chief --- E-books --- american business. --- american economy. --- behavioral theory. --- big business. --- board members. --- bosses. --- business. --- capitalism. --- ceos. --- chief executive officer. --- compensation. --- corporate culture. --- corporate directors. --- corporate governance tools. --- corporate performance. --- corporations. --- economists. --- economy. --- era of guaranteed salaries. --- executive pay. --- human resource professionals. --- large salaries. --- leadership. --- motivation. --- performance pay. --- project management. --- stock options.

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This book includes the 14 articles accepted and published in the Special Issue “Partial Least Squares Structural Equation Modeling (PLS-SEM): Applications in Economics and Finance” of the MDPI journal Mathematics, which encompasses a wide range of topics connected with the theory and applications of PLS-SEM methodology. These topics involve, among others, prediction of stock market investment intention, institutional quality and international competitiveness, governance paradigms and public innovation, information and communication technologies in the supply chain, influence of the ability to absorb information from the environment and proactivity on the company's results, quality management, effects of the corporate social responsibility on financial performance, resource management for the improvement of the healthcare system, and the application of maximum entropy bootstrapping to time series. It is expected that the book will prove worthwhile and helpful for those working in the area of PLS-SEM, regardless of the field of application (economics, finance, marketing, education or other). Applications of higher order constructs, mediating variables, multigroup analysis and the latest advances in applied methodology can all be found in this book.

Research & information: general --- Mathematics & science --- self-consciousness --- e-commerce --- consumer behavior --- Technology Acceptance Model --- risk tolerance --- financial well-being --- financial literacy --- overconfidence bias --- herding behavior --- social interaction --- investment intention --- stock market participation --- institutional quality --- international competitiveness --- emerging economies --- PLS-SEM --- lean manufacturing --- quality management --- commercial performance --- wastes --- DIRFT --- luxury fashion goods --- status consumption --- status quo --- clothing innovativeness --- clothing involvement --- PLS-PM --- public service logic --- new public management --- innovation --- co-creation --- co-production --- Spain --- cognitive destination image --- cruise --- satisfaction --- loyalty --- behavioral intention --- structural equation modeling --- National Health Services --- health–disease status --- health system performance --- health system sustainability --- health policy --- healthcare quality --- partial least squares structural equation modeling (PLS-SEM) --- structural equation model --- information and communication technology --- ICT integration --- PLS-SEM bootstrapping --- PLS-SEM with time series --- marketing mix modeling --- maximum entropy bootstrapping --- proactivity --- absorptive capacity --- potential absorptive capacity --- realised absorptive capacity --- structural equation modelling --- video tutorials --- blended learning --- online learning --- financial mathematics --- COVID-19 --- autonomy --- effectiveness --- CO2 emissions --- ESDA --- China --- corporate social responsibility --- corporate performance --- human resources management --- customer satisfaction --- partial least squares structural equation modelling (PLS-SEM)

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This book includes the 14 articles accepted and published in the Special Issue “Partial Least Squares Structural Equation Modeling (PLS-SEM): Applications in Economics and Finance” of the MDPI journal Mathematics, which encompasses a wide range of topics connected with the theory and applications of PLS-SEM methodology. These topics involve, among others, prediction of stock market investment intention, institutional quality and international competitiveness, governance paradigms and public innovation, information and communication technologies in the supply chain, influence of the ability to absorb information from the environment and proactivity on the company's results, quality management, effects of the corporate social responsibility on financial performance, resource management for the improvement of the healthcare system, and the application of maximum entropy bootstrapping to time series. It is expected that the book will prove worthwhile and helpful for those working in the area of PLS-SEM, regardless of the field of application (economics, finance, marketing, education or other). Applications of higher order constructs, mediating variables, multigroup analysis and the latest advances in applied methodology can all be found in this book.

self-consciousness --- e-commerce --- consumer behavior --- Technology Acceptance Model --- risk tolerance --- financial well-being --- financial literacy --- overconfidence bias --- herding behavior --- social interaction --- investment intention --- stock market participation --- institutional quality --- international competitiveness --- emerging economies --- PLS-SEM --- lean manufacturing --- quality management --- commercial performance --- wastes --- DIRFT --- luxury fashion goods --- status consumption --- status quo --- clothing innovativeness --- clothing involvement --- PLS-PM --- public service logic --- new public management --- innovation --- co-creation --- co-production --- Spain --- cognitive destination image --- cruise --- satisfaction --- loyalty --- behavioral intention --- structural equation modeling --- National Health Services --- health–disease status --- health system performance --- health system sustainability --- health policy --- healthcare quality --- partial least squares structural equation modeling (PLS-SEM) --- structural equation model --- information and communication technology --- ICT integration --- PLS-SEM bootstrapping --- PLS-SEM with time series --- marketing mix modeling --- maximum entropy bootstrapping --- proactivity --- absorptive capacity --- potential absorptive capacity --- realised absorptive capacity --- structural equation modelling --- video tutorials --- blended learning --- online learning --- financial mathematics --- COVID-19 --- autonomy --- effectiveness --- CO2 emissions --- ESDA --- China --- corporate social responsibility --- corporate performance --- human resources management --- customer satisfaction --- partial least squares structural equation modelling (PLS-SEM)

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This book comprises 19 papers published in the Special Issue entitled “Corporate Finance”, focused on capital structure (Kedzior et al., 2020; Ntoung et al., 2020; Vintilă et al., 2019), dividend policy (Dragotă and Delcea, 2019; Pinto and Rastogi, 2019) and open-market share repurchase announcements (Ding et al., 2020), risk management (Chen et al., 2020; Nguyen Thanh, 2019; Štefko et al., 2020), financial reporting (Fossung et al., 2020), corporate brand and innovation (Barros et al., 2020; Błach et al., 2020), and corporate governance (Aluchna and Kuszewski, 2020; Dragotă et al.,2020; Gruszczyński, 2020; Kjærland et al., 2020; Koji et al., 2020; Lukason and Camacho-Miñano, 2020; Rashid Khan et al., 2020). It covers a broad range of companies worldwide (Cameroon, China, Estonia, India, Japan, Norway, Poland, Romania, Slovakia, Spain, United States, Vietnam), as well as various industries (heat supply, high-tech, manufacturing).

Economics, finance, business & management --- cash holding ratio --- firm's efficiency --- threshold regression model --- non-financial companies --- Vietnam stock exchange market --- dividend policy --- emerging market --- industrial sectors --- NSE India --- panel data --- financial structure --- regression analysis --- agent-based models --- decision-making --- systematically making bad decisions --- investors' behavior --- simulation --- capital structure --- family firms --- leverage --- non-family firms --- risk --- pension incentive --- currency hedging --- multinational companies --- firm value --- CEO turnover --- foreign CEO --- female CEO --- ownership structure --- Romania --- brand interrelationships --- corporate identity --- brand reputation --- higher education --- students' perceptions --- corporate governance --- ownership concentration --- agency cost --- firm performance --- dynamic panel model --- perception --- OHADA accounting --- transition --- IFRS --- comparability --- open market share repurchase --- hubris --- cumulative announcement returns --- endowed --- SMEs financing --- financing gap --- innovative activity --- innovation --- capital structure decisions --- bankruptcy --- data envelopment analysis --- logit --- model --- family firm --- non-family firm --- corporate performance --- Japan --- board of directors --- women in corporations --- financial microeconometrics --- multiple regression --- quantile regression --- diff-in-diff --- New Technology-Based Firms (NTBFs) --- internal and external innovativeness --- intangibility --- information disclosure --- timeliness of financial reporting --- law violation --- private firms --- corporate governance best practice --- corporate governance compliance --- company value --- Warsaw Stock Exchange --- accrual earnings management --- Nordic model