ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Debashish BhattacherjeeSubscribe to Debashish Bhattacherjee

Executive Compensation, Firm Performance and Governance

This paper investigates the determinants of executive compensation using the most recent data on firm performance, corporate governance and managerial compensation from a large sample of Indian firms. A linear regression model is used to develop explanations for total chief executive officer compensation and the proportion of incentive pay that forms a part of the CEO's compensation. It is found that firm size is a significant determinant of both these aspects of CEO compensation. The results also show that CEOs who are promoters of their firms earn significantly more than their ordinary counterparts. Such individuals also earn a much larger component of their compensation as incentive pay. In addition, this study also quantifies the significant divergences in compensation policies between private and public sector firms.

Signalling, Work Experience and MBA Starting Salaries

This paper investigates the determinants of MBA starting salaries using a unique placement database from one of the 'premier' business schools in India. We invoke some simple arguments regarding schooling, human capital theory and signalling from the economics of human resources to theoretically inform our analysis. The results indicate that there are large salary returns to academic performance and mild returns to prior work experience when the entire sample is studied. However, when the functions are run separately for the domestic and international sector, we find that only academic performance is significant in the domestic sector whereas only prior work experience is significant in the international sector. We interpret the latter result as approximating a 'perfectly separating signalling equilibrium' process.

Globalising Economy, Localising Labour

The evolution of Indian industrial relations is discussed here in a historical and structural context. In the first phase nationalist economic doctrines led to a state-dominated pluralism in the IR arena that finally gave way to its crisis of legitimacy. The state slowly began to withdraw from the economic domain. The second phase represents the post-liberalisation period with the 'structural adjustment programme'. The essential thesis of this paper is that the gradual spread of market principles has led to wide inter-regional and inter-sectoral differences in the levels of economic activity resulting in turn in considerable variation in the nature of labour-management relations. Consequently, an erstwhile 'national' IR system has given way to many 'local' IR systems.

Developing Competitiveness and Social Justice-A Letter from Bologna

The 11th world congress of the International Industrial Relations Association in Bologna, despite its wide-ranging coverage of themes, was essentially eurocentric in its design and structure.

Top Management Remuneration and Firm Performance-An Exploratory Analysis

Firm Performance An Exploratory Analysis Debashish Bhattacherjee S Jairam G Ravi Shanker The advent of liberalisation has clearly changed pay conditions in the firms by making pay more sensitive to the performance of the firm, irrespective of its size. Changes in the level of sales and in the stock of all past flows of profits significantly influence the incentive pay rises. With every Rs 100 increase in either sales or shareholders' wealth, the pay of the CEO increases by 15 paise to 22 paise.

Determinants of Bargaining Structure in India-An Exploratory Exercise

An Exploratory Exercise Debashish Bhattacherjee Though the literature on urban labour markets in developing countries consists of several studies that have examined the effects of unionism and other structural factors on negotiated wage and non-wage outcomes, in none of these studies does bargaining structure explicitly enter into the arguments. This paper estimates the deter* minants of bargaining structure in India using information obtained from 140 individual collective bargaining agreements from both manufacturing and non-manufacturing sectors.
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