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Download or read book Utility Management Compensation written by and published by . This book was released on 1982 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author: Paul L. Joskow
Publisher:
Published: 1994
Total Pages: 31
ISBN-13:
DOWNLOAD EBOOKThis study explores the effect of regulatory and political constraints on the level of CEO compensation for 87 state-regulated electric utilities during 1978-1990. The results suggest that political pressures may constrain top executive pay levels in this industry. First, CEOs of firms operating in regulatory environments characterized by investment banks as relatively pro-consumer' receive lower compensation than do CEOs of firms in environments ranked as more friendly to investors. Second, CEO pay is lower for utilities with relatively high or rising rates, or a higher proportion of industrial sales, consistent with earlier research that describes political pressures on electricity rates. Finally, attributes of the commission appointment and tenure rules affect CEO compensation in ways consistent with the political constraint hypothesis: for example, pay is lower in states with elected commissioners than in states where commissioners are appointed by the governor, all else equal. Despite apparently effective pressure to constrain pay levels in this sector, however, we find no evidence of related intra-industry variation in the sensitivity of pay to firm financial performance
Download or read book Political Constraints on Executive Compensation written by Paul L. Joskow and published by . This book was released on 1994 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the effect of regulatory and political constraints on the level of CEO compensation for 87 state-regulated electric utilities during 1978-1990. The results suggest that political pressures may constrain top executive pay levels in this industry. First, CEOs of firms operating in regulatory environments characterized by investment banks as relatively pro-consumer' receive lower compensation than do CEOs of firms in environments ranked as more friendly to investors. Second, CEO pay is lower for utilities with relatively high or rising rates, or a higher proportion of industrial sales, consistent with earlier research that describes political pressures on electricity rates. Finally, attributes of the commission appointment and tenure rules affect CEO compensation in ways consistent with the political constraint hypothesis: for example, pay is lower in states with elected commissioners than in states where commissioners are appointed by the governor, all else equal. Despite apparently effective pressure to constrain pay levels in this sector, however, we find no evidence of related intra-industry variation in the sensitivity of pay to firm financial performance
Author: Kurt A. Strasser
Publisher: Praeger
Published: 1989-12-11
Total Pages: 224
ISBN-13:
DOWNLOAD EBOOKThis book proposes a new approach to the government regulation of utilities. Arguing that traditional command-and-control regulation does not encourage efficient performance, Strasser and Kohler advocate the use of an incentive-based regulatory system and offer a practical, realistic strategy for the successful implementation of such plans within the context of utility regulation. The analysis is supported by a comprehensive survey of the relevant legal materials, an overview of the literature on organization theory and institutional economics, and a survey of the latest thinking on how incentives can most effectively be paid. Strasser and Kohler begin by identifying problems associated with current regulatory techniques, demonstrating that disincentives are often built into the regulatory system. When that system has tried incentives, the authors show they have been applied in an ad hoc manner, further exacerbating the problem. In presenting the case for incentive-based regulation, the authors review the history of comprehensive incentive plans, look at what organization theory can teach us about using incentives as a regulatory strategy, and explore the effective use of incentive compensation by nonregulated companies. Strasser and Kohler then develop a strategy for implementing incentive plans in regulated utilities, showing that, in order to work, the plans must include the installation of clearly defined bonuses and penalties, specific standards of performance, the payment of bonuses to managers rather than shareholders, and reliable and complete measures of company performance. Policymakers, economists, public utility regulators, and attorneys involved in the complex arena of utility regulation will find Regulating Utilities with Management Incentives indispensable reading.
Download or read book Regulating Utilities with Management Incentives written by Kurt A. Strasser and published by Praeger. This book was released on 1989-12-11 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a new approach to the government regulation of utilities. Arguing that traditional command-and-control regulation does not encourage efficient performance, Strasser and Kohler advocate the use of an incentive-based regulatory system and offer a practical, realistic strategy for the successful implementation of such plans within the context of utility regulation. The analysis is supported by a comprehensive survey of the relevant legal materials, an overview of the literature on organization theory and institutional economics, and a survey of the latest thinking on how incentives can most effectively be paid. Strasser and Kohler begin by identifying problems associated with current regulatory techniques, demonstrating that disincentives are often built into the regulatory system. When that system has tried incentives, the authors show they have been applied in an ad hoc manner, further exacerbating the problem. In presenting the case for incentive-based regulation, the authors review the history of comprehensive incentive plans, look at what organization theory can teach us about using incentives as a regulatory strategy, and explore the effective use of incentive compensation by nonregulated companies. Strasser and Kohler then develop a strategy for implementing incentive plans in regulated utilities, showing that, in order to work, the plans must include the installation of clearly defined bonuses and penalties, specific standards of performance, the payment of bonuses to managers rather than shareholders, and reliable and complete measures of company performance. Policymakers, economists, public utility regulators, and attorneys involved in the complex arena of utility regulation will find Regulating Utilities with Management Incentives indispensable reading.
Author: AWWA Staff
Publisher: American Water Works Association
Published: 2011-01-12
Total Pages: 146
ISBN-13: 1613000189
DOWNLOAD EBOOKAnnotation Water utility managers are in a challenging profession, and managerial leadership is key to successful utility operations. AWWA Manual M5, Water Utility Management, was developed through the collaborative effort of leaders in the utility profession who have successfully met the challenges of managing a water utility. This practical manual covers management issues such as internal organizational structure of typical water utilities, government relations, safety programs, engineering, public relations, and more. Book jacket.
Download or read book Water Utility Management, 2nd Ed. (M5) written by AWWA Staff and published by American Water Works Association. This book was released on 2011-01-12 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Water utility managers are in a challenging profession, and managerial leadership is key to successful utility operations. AWWA Manual M5, Water Utility Management, was developed through the collaborative effort of leaders in the utility profession who have successfully met the challenges of managing a water utility. This practical manual covers management issues such as internal organizational structure of typical water utilities, government relations, safety programs, engineering, public relations, and more. Book jacket.
Author: American Water Works Association
Publisher: American Water Works Association
Published: 2004-12-01
Total Pages: 147
ISBN-13: 1583213619
DOWNLOAD EBOOKThis manual of practice covers public water utility management, designed for new managers, accountants, and supervisors. Second edition.
Download or read book Water Utility Management written by American Water Works Association and published by American Water Works Association. This book was released on 2004-12-01 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual of practice covers public water utility management, designed for new managers, accountants, and supervisors. Second edition.
Author: Andreas Bausch
Publisher: Springer Science & Business Media
Published: 2009-07-07
Total Pages: 817
ISBN-13: 3540793496
DOWNLOAD EBOOKAlong with the increasing deregulation of European utility markets the dynamics of and the competitive pressure in the utility industries have steadily increased over the last years. These changes in the regulatory framework towards an integrated market environment have resulted in new challenges for the management of power and gas companies and in a substantial need for strategic reorientation. In the context of these developments the Handbook Utility Management reflects current challenges in the utility industries and provides solutions from a managerial perspective. The inclusion of latest insights from top managers, renowned researchers, professionals in utility-related investment banking and consulting, and professionals in public and supranational organizations on all value chain activities within the industry makes the Handbook an indispensable asset for both professionals and researchers.
Download or read book Handbook Utility Management written by Andreas Bausch and published by Springer Science & Business Media. This book was released on 2009-07-07 with total page 817 pages. Available in PDF, EPUB and Kindle. Book excerpt: Along with the increasing deregulation of European utility markets the dynamics of and the competitive pressure in the utility industries have steadily increased over the last years. These changes in the regulatory framework towards an integrated market environment have resulted in new challenges for the management of power and gas companies and in a substantial need for strategic reorientation. In the context of these developments the Handbook Utility Management reflects current challenges in the utility industries and provides solutions from a managerial perspective. The inclusion of latest insights from top managers, renowned researchers, professionals in utility-related investment banking and consulting, and professionals in public and supranational organizations on all value chain activities within the industry makes the Handbook an indispensable asset for both professionals and researchers.
Download or read book Incentive Regulation in the Electric Utility Industry written by and published by . This book was released on 1983 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Problems in Public Utility Management written by Philip Cabot and published by . This book was released on 1927 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author: Lucian A. Bebchuk
Publisher: Harvard University Press
Published: 2004
Total Pages: 308
ISBN-13: 9780674020634
DOWNLOAD EBOOKThe company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: United States. Congress. Joint Committee on Internal Revenue Taxation
Publisher:
Published: 1969
Total Pages: 1388
ISBN-13:
DOWNLOAD EBOOKDownload or read book Summary of Testimony on Deferred Executive Compensation written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1969 with total page 1388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
