Suchergebnisse

We investigate whether defined benefit (DB) pension contributions convey information about earnings quality proxied by different measurements of discretionary accruals (DA). We find that greater DA are negatively is associated with discretionary pension contributions. Since greater DA is associated with lower earnings quality, the result implies a positive relationship between earnings quality and voluntary pension contributions. In contrast, our evidence does not suggest a similar relationship holds for earnings quality and mandatory pension contributions. In addition, while our analysis identifies a negative relation between DA and total pension contributions, the relation is statistically weaker than that between DA and voluntary pension contribution. Robustness tests are conducted and results are found to continue to hold. Our results are consistent with the theoretical argument that voluntary pension contributions are indicative of firms' earnings quality since both the voluntary pension contributions and earnings quality result from the same set of incentives behind managerial discretions. Our study sheds light on the management's motivation for making voluntary pension contributions and improves our understanding of firms' consideration in funding strategies for DB pension plans.

We investigate whether boards of directors reward and punish chief executive officers (CEOs) based on employee satisfaction ratings. Using data from Glassdoor, we find that CEOs tend to receive larger bonuses when employee satisfaction ratings increase. Similarly, we find a higher rate of CEO dismissal when employees become less satisfied. Further, we investigate three factors that may amplify the role of employee satisfaction ratings in CEO evaluations: the importance of employees to financial performance, the board's commitment to stakeholders, and the need to preserve firm reputation. We find some evidence that each of these three factors strengthens the relationship between employee satisfaction ratings and CEO evaluations. Finally, we exploit the staggered timing of first-time reviews on Glassdoor and use a difference-in-differences design to strengthen our inferences. Collectively, these findings suggest that boards' evaluations of CEO compensation and retention incorporate employee satisfaction ratings.

Objective: Impairment in physical function and physical performance leads to decreased independence and health-related quality of life in people living with chronic kidney disease and end-stage kidney disease. Physical activity and exercise in kidney care are not priorities in policy development. We aimed to identify global policy-related enablers, barriers, and strategies to increase exercise participation and physical activity behavior for people living with kidney disease. Design and Methods: Guided by the Behavior Change Wheel theoretical framework, 50 global renal exercise experts developed policy barriers and enablers to exercise program implementation and physical activity promotion in kidney care. The consensus process consisted of developing themes from renal experts from North America, South America, Continental Europe, United Kingdom, Asia, and Oceania. Strategies to address enablers and barriers were identified by the group, and consensus was achieved. Results: We found that policies addressing funding, service provision, legislation, regulations, guidelines, the environment, communication, and marketing are required to support people with kidney disease to be physically active, participate in exercise, and improve health-related quality of life. We provide a global perspective and highlight Japanese, Canadian, and other regional examples where policies have been developed to increase renal physical activity and rehabilitation. We present recommendations targeting multiple stakeholders including nephrologists, nurses, allied health clinicians, organizations providing renal care and education, and renal program funders. Conclusions: We strongly recommend the nephrology community and people living with kidney disease take action to change policy now, rather than idly waiting for indisputable clinical trial evidence that increasing physical activity, strength, fitness, and function improves the lives of people living with kidney disease.