Alternative classifications of conventionally-and Sample Clauses

Alternative classifications of conventionally-and socially independent boards (1) using two different measures of compensation: Salary + Bonus (Panel A) and Total Compensation (Panel B), and all t-statistics are calculated using White standard errors adjusted for clustering (by firm). In Columns 1 through 3, we present the results from using a board- independence dummy, whereby, in Column 1, we require that a 50% majority of directors be independent; in Column 2, we require that a 60% majority of directors be independent; and in Column 3, we require that all members of the compensation committee be independent. In regressions using the 60% cutoff, we also include a mixed-board dummy that equals one if the percentage of independent directors is between 40% and 60%, and zero otherwise. Moreover, for regressions involving compensation committee information, our analyses begin in 1998 in accordance with data availability. In Column 4, we present the results from using the fraction of independent directors (as opposed to an independence dummy). Finally, in Column 5, we present the results from using the board’s average number of ties per director, which we calculate by dividing the total number of director-CEO ties (with a maximum of seven per director) by the number of directors for that firm-year. In contrast to the other measures (including the independence fraction), which categorize directors in dichotomous terms, this last measure allows us a finer metric to define the extent of a director’s dependence to the CEO. For each of these measures of board independence, we present the results from using two different specifications of director independence. In the first row, we consider only the conventional ties, and in the second row, we augment the conventional criteria with our social criteria. We find that our earlier results are robust to different board-independence cutoffs, to the use of an independence fraction instead of a dummy, and to the use of an average- ties measure. Across our various specifications of board independence, the coefficient estimates on the conventional-and-social independence measures (Row 2) are both economically meaningful and statistically significant. Moreover, we observe similarly significant results when we redefine regional ties by a finer state-wise classification (untabulated). In comparison, the coefficient estimates on the conventional-independence measures (Row 1) are substantially smaller in economic and statistical significance. Using these alternative specification...
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Related to Alternative classifications of conventionally-and

  • New Job Classifications When a new classification (which is covered by the terms of this collective agreement) is established by the Hospital, the Hospital shall determine the rate of pay for such new classification and notify the local Union of the same. If the local Union challenges the rate, it shall have the right to request a meeting with the Hospital to endeavour to negotiate a mutually satisfactory rate. Such request will be made within ten (10) days after the receipt of notice from the Hospital of such new occupational classification and rate. Any change mutually agreed to resulting from such meeting shall be retroactive to the date that notice of the new rate was given by the Hospital. If the parties are unable to agree, the dispute concerning the new rate may be submitted to arbitration as provided in the agreement within fifteen (15) days of such meeting. The decision of the arbitrator (or board of arbitration as the case may be) shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classification. When the Hospital makes a substantial change in the job content of an existing classification which in reality causes such classification to become a new classification, the Hospital agrees to meet with the Union if requested to permit the Union to make representation with respect to the appropriate rate of pay. If the matter is not resolved following the meeting with the Union, the matter may be referred to arbitration as provided in the agreement within fifteen (15) days of such meeting. The decision of the arbitrator (or board of arbitration as the case may be) shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classifications. The parties further agree that any change mutually agreed to or awarded as a result of arbitration shall be retroactive only to the date that the Union raised the issue with the Hospital. The parties further agree that the above process as provided herein shall constitute the process for Pay Equity Maintenance as required by the Pay Equity Act.

  • New Classifications If a new classification is created within the bargaining unit, the Employer agrees to meet with the Union and negotiate a rate of pay for this new classification. If the parties cannot reach agreement, at the request of either party, the matter shall be submitted to the arbitration procedure in Article 26 of this Agreement.

  • DOMESTIC PREFERENCES FOR PROCUREMENTS To the extent applicable, Supplier certifies that during the term of this Contract will comply with applicable requirements of 2 C.F.R. § 200.322.

  • SPECIALIZED JOB CLASSES Where there is a particular specialized job class in which the pay rate is below the local market value assessment of that job class, the parties may use existing means under the collective agreement to adjust compensation for that job class.

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