- ISBN: 9780415775021 | 0415775027
- Cover: Hardcover
- Copyright: 9/24/2008
Providing an overview of the issues MNEs face when determining pay and benefits for a global workforce, this book analyses an essential component of any course on human resource management..
| List of illustrations | p. xiii |
| Notes on contributors | p. xiv |
| Foreword | p. xvii |
| Preface | p. xix |
| Acknowledgments | p. xxi |
| Foundational concepts | p. 1 |
| The influence of institutional and cultural factors on compensation practices around the world | p. 3 |
| Compensation in a global context | p. 4 |
| Institutional factors and compensation design | p. 7 |
| Cultural factors and compensation design | p. 11 |
| Conclusions | p. 15 |
| National differences in compensation: the influence of the institutional and cultural context | p. 18 |
| Compensation in Europe: Spain and Germany | p. 18 |
| Compensation in the USA and Mexico | p. 21 |
| Compensation in Asia: Japan and China | p. 24 |
| Conclusions | p. 26 |
| Universal and national norms for Organizational Compensation Ethics: using severance pay as an illustration | p. 29 |
| Levels of analysis in Business Ethics | p. 30 |
| A hierarchy of norms for Organizational Compensation Ethics | p. 31 |
| The investment nature of employment relationships | p. 33 |
| Corporate Governance and universal norms for Organizational Compensation Ethics | p. 34 |
| Universal and national norms regarding severance pay | p. 35 |
| Conclusions | p. 38 |
| Performance measurement issues, incentive application and globalization | p. 41 |
| Performance measurement bedrock issues | p. 41 |
| Theoretical background: agency theory | p. 44 |
| Key characteristics of performance measures: lessons from agency theory | p. 45 |
| The impact of using performance measures for incentive purposes | p. 48 |
| Globalization and the use of incentives | p. 51 |
| Conclusions | p. 52 |
| Contracting for success in the era of globalization: aligning the supply chain manager's compensation contract with the company's supply chain strategy | p. 57 |
| Background | p. 58 |
| Theoretical framework | p. 59 |
| Discussion | p. 67 |
| Concluding remarks | p. 69 |
| Incentives to stimulate innovation in a global context | p. 72 |
| Home base exploration vs exploitation strategies | p. 73 |
| Managing global R&D | p. 74 |
| Incentives for global R&D | p. 76 |
| Institutional environment | p. 77 |
| National culture | p. 79 |
| The challenge of emerging markets | p. 81 |
| Concluding remarks | p. 82 |
| Executive compensation in an international context: the role of informal and formal institutions | p. 86 |
| Dimensions of the institutional environment influencing CEO pay | p. 87 |
| Discussion and implications | p. 95 |
| Shareholders' value maximization and stakeholders' interest: is CEO long-term compensation the answer? | p. 100 |
| The instrumental stakeholder model | p. 101 |
| SM and the (mis)alignment effects of long-term compensation | p. 104 |
| On the cross-national differences of governance and other institutional systems | p. 107 |
| Conclusion | p. 110 |
| A global perspective on executive compensation | p. 113 |
| The problems of the classical approach to executive compensation | p. 114 |
| Managerial discretion and executive pay setting practices: the individual level | p. 115 |
| Corporate purpose and board of directors: the organizational level | p. 117 |
| Executive pay practices and national contexts: the institutional level | p. 120 |
| Discussion and conclusion | p. 122 |
| Global applications | p. 129 |
| The global convergence of compensation practices | p. 131 |
| The convergence argument | p. 131 |
| The non-convergence argument | p. 133 |
| Compensation and convergence | p. 134 |
| Summary | p. 139 |
| Compensation and national culture | p. 142 |
| Definition and measurement of national culture | p. 143 |
| National culture and compensation: hypotheses and evidence | p. 144 |
| National culture effects: caveats and cautions | p. 152 |
| Conclusion | p. 155 |
| Pay for performance for global employees | p. 158 |
| Pay for performance practices | p. 158 |
| Global perspective on compensation practices | p. 161 |
| Expatriate considerations | p. 163 |
| Institutional context | p. 164 |
| Local cultural sensitivities | p. 165 |
| Conclusions | p. 166 |
| Global wages in industries with low entry barrier occupations: the case of quick service restaurants, call centers and hotels/motels | p. 169 |
| Factors affecting global compensation decisions | p. 169 |
| The quick service restaurant (QSR) industry: the case of McDonald's | p. 171 |
| The call center industry | p. 173 |
| Wage determination comparisons of call centers and QSRs | p. 175 |
| The hospitality industry | p. 177 |
| Conclusions | p. 177 |
| Employee benefits around the world | p. 179 |
| North America | p. 179 |
| Europe | p. 183 |
| Asia | p. 187 |
| Conclusion | p. 191 |
| Explaining high US CEO pay in a global context: an institutional perspective | p. 192 |
| CEO pay in a global context | p. 193 |
| Institutional theory and CEO pay | p. 194 |
| Conclusion | p. 202 |
| Beyond financial performance: is there something missing in executive compensation schemes? | p. 206 |
| The traditional approach to the corporate objective and executive compensation | p. 207 |
| An alternative approach to the corporate objective and executive compensation | p. 208 |
| Conclusion | p. 215 |
| Index | p. 219 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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