ntRelative Performance Evaluation and Target Setting MARTIN HOLZHACKER Erasmus University Rotterdam MATTHIAS D. MAHLENDORF WHU – Otto Beisheim School of Management MICHAL MATĚJKA W.P. Carey School of Business, Arizona State University Draft – Please do not cite or circulate without permission of the authors March 2013 2 Relative Performance Evaluation and Target Setting ABSTRACT It is well known that compensation contracts can improve risk sharing by incorporating information
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2 Case Study 1) Firm Fixed-Price Contract: A contract in which the price is not subject to any adjustment by reason of the cost experience of the contractor or his performance under the contract (FASB 2012). References to Firm Fixed-Price Contract are under the Revenue Codification. Revenue/Topic 605 Revenue Recognition/35 Construction-Type and Production-Type Contracts I did not locate any SEC documents relating directly to Firm Fixed-Price Contract but Topic 605 Revenue Recognition does
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Debacle Jason Bourne Park University November 17, 2009 Abstract This paper explores the highly controversial bid process and subsequently protest for the Air Force’s KC-X refueling tanker. The main participants for the new refueling tanker contract were Boeing and Northrop Grumman (NGC) as prime contractor through a joint venture with the European Aeronautic Defense and Space Company (EADS). The Boeing Corporation has been the standard in the aerial defense industry. Their challengers, NGC
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system for evaluating teacher performance at the elementary school level based on state test scores. Teachers will be placed into one of four categories based on their students’ educational growth: top performing tier, high performing tier, medium performing tier, or lowest performing tier. Teachers performing in the top tiers will be rewarded with public praise and annual bonuses, while teachers in the bottom tiers will be placed on probation which includes performance improvement courses. Teachers
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Relies on traditional economics literature assumptions of self-interest and wealth maximization without having contractual agreements between the agents and the principal the agent will receive a reduced income agents then motivated to enter contracts which appear to limit actions detrimental to agents agency costs: Monitoring costs, bonding costs and residual loss Hypothesis used in PAT literature to explain, and predict support or opposition to, an accounting method: * Bonus plan hypothesis:
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the value of sound contract management (contract administration) and the legal/moral implications of not doing so. The Institute of Supply Management (ISM) sets some detailed principles that supply management personnel can abide by ethically. They include guidelines to follow which help aid in the process of handling several areas of the job, including conflicts of interest, personal purchases, and bribes. Contract administration spreads the responsibility of sound contract management over several
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HUNTINGDON COUNTY COMMISSIONERS REQUEST FOR PROPOSAL INFORMATION TECHNOLOGY SUPPORT SERVICES Proposals will be received by the County of Huntingdon for Information Technology Support Services. Interested vendors should submit one original and 6 copies of their proposal response documentation in an envelope marked as follows: IT SUPPORT SERVICES Please submit bids to: Michelle Cerett, Chief Clerk Huntingdon County 223 Penn Street Huntingdon, PA 16652 Formal proposals
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under the Law of Contract? Remedy is where the inured party enforce their rights or get a reward for a loss. It also means to achieve justice where legal rights are involved. There are many types of remedies and some of them may be ordered by court, granted by judgement, by agreement between two parties and operation of law. The remedies depend on the nature of the breach. The remedies available under the Law Of Contract are Rescission, Restitution, Damages, Specific Performance, Injunction,Mareva
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The role of exogenous risk in structuring contracts Objectives: • To illustrate a kind of transaction cost driven by information asymmetry and differential preferences with respect to risk allocation • Logical sequence Information asymmetry impossible to contract on effort contract on results or performance Inefficient risk allocation emerges when: • Performance not fully under the control of agent • Agent more risk averse than principal need to • Importance of risk in economic life • Scarce
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is independently run. It is granted greater flexibility by the state government for its operations, but it needs to give greater accountability for the student’s performance than regular public schools give. The charter is basically a performance contract that gives the details of the school’s program including its mission, performance goals, methods of assessment and students served. People who are interested in quality education such as Peter Briger Fortress Investment Group principal and co-chairman
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