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Homogenous Contracts for Heterogeneous Agents: Aligning Salesforce Composition and Compensation
2014
Social Science Research Network
Our application is to salesforce compensation, in which a firm maintains a salesforce to market its products. ...
compensation contracts at a US Fortune 500 company that explores these considerations and assesses the gains from a salesforce architecture that sorts agents into divisions to balance firm-wide incentives ...
hold even under extreme parameter uncertainty. ...
doi:10.2139/ssrn.2399268
fatcat:ckac4g7xpzg5plnbpm5rkcwqeu
On optimal salesforce compensation in the presence of production learning effects
1990
International Journal of Research in Marketing
The model is a two-period extension of the Basu, Lal, Srinivasan and Staelin (1985) one-period agency model of salesforce compensation. ...
We discuss managerial implications of our model. ...
A major innovation of the BLSS model is that it examines the design of an optimal compensation scheme, and not just the level of commission rates, under the realistic assun~ption of uncertainty in the ...
doi:10.1016/0167-8116(90)90020-n
fatcat:qn6xs452qfdyzbe7rhbpyupaaq
Homogeneous Contracts for Heterogeneous Agents: Aligning Sales Force Composition and Compensation
2016
Journal of Marketing Research
Our application is to salesforce compensation, in which a firm maintains a salesforce to market its products. ...
compensation contracts at a US Fortune 500 company that explores these considerations and assesses the gains from a salesforce architecture that sorts agents into divisions to balance firm-wide incentives ...
We now discuss our model set-up and present the rest of the analysis.
Model A firm wishes to optimize the composition and compensation of its salesforce. ...
doi:10.1509/jmr.14.0018
fatcat:32fvrpcak5gr7ojxydcld353om
An Empirical Investigation of the Antecedents of Sales Force Control Systems
1999
Journal of Marketing
Based on a more general model by Holmström (1979) , Basu et al. (1985) applied agency theory to derive optimal compensation contracts for homogeneous salesforces in the sense of Proportion of total ...
In both models, transaction specific assets do not play a significant role in the choice and design of salesforce control Systems. ...
AI Customers per salesperson (negatively related to uncertainty) One salesperson is on average responsable for about accounts adapted from Anderson (1985) adapted from Anderson (1985) adapted from ...
doi:10.2307/1251779
fatcat:2mhhhudsojh3hm5a67qtpkmq6e
Financing Capacity Investment Under Demand Uncertainty: An Optimal Contracting Approach
2018
Manufacturing & Service Operations Management
The firm optimizes both its capacity investment under demand uncertainty and its sourcing of funds from a competitive investor. ...
We characterize the optimal capacity level under optimal financing. First, we find conditions under which a feasible financial contract exists that leads to the first-best capacity. ...
A Model of Capacity Investment Financing
The Newsvendor Model with Financing Under Moral Hazard We study the problem of a firm with limited cash making a capacity investment choice under demand uncertainty ...
doi:10.1287/msom.2017.0671
fatcat:cs7fwn7cdfeafbkkn5bwnq6bfm
Salesforce Compensation: An Empirical Investigation of Factors Related to Use of Salary versus Incentive Compensation
1989
Journal of Marketing Research
the model. ...
Under conditions of high uncertainty, the transaction costs associated with noncompetitive markets are greater, increasing the need for a control mode emphasizing supervision. ...
doi:10.1177/002224378902600101
fatcat:ya25vc2p3fgsphcdgn3tgspiwm
Salesforce Compensation: An Empirical Investigation of Factors Related to Use of Salary versus Incentive Compensation
1989
Journal of Marketing Research
Under conditions of high uncertainty, the transaction costs associated with noncompetitive markets are greater, increasing the need for a control mode emphasizing supervision. ...
However, the sales managers' model for role of salary may reflect a normative model embodying the sales managers' experience tested by competitive forces in the marketplace. ...
doi:10.2307/3172665
fatcat:edqjnkgpjrc25f6yvbjcg3g4ja
Investigating Dynamics in Salesforce Compensation Plan
판매원의 경험에 따른 임금의 동태적 변화 고찰
2016
The Journal of the Korea Contents Association
판매원의 경험에 따른 임금의 동태적 변화 고찰
Our paper provides important implications about dynamics in the compensation plan, which has not been addressed in the past studies but has frequently been witnessed in practice. ■ keyword :|Salesforce ...
However, if one cannot expect any marginal returns of accumulated efforts, the sales manager must provide commissions on the high volume of sales at each period, to facilitate a high effort of a salesforce ...
Therefore, as Lal and Staelin[2] and Rao [3] show, a sales manager provides a set of two contracts in such a way that each type of salesperson maximizes his/her utility under each contract while minimizing ...
doi:10.5392/jkca.2016.16.02.045
fatcat:bihhfvhut5h4xk7a6hz6qkjit4
Salesforce Compensation: An Analytical and Empirical Examination of the Agency Theoretic Approach
2005
Quantitative Marketing and Economics
On the theory side we build a game theoretic model of salesforce compensation that accounts for risk aversion on the part of both the principal and the agent. ...
In this paper we revisit the issue of salesforce compensation on both theoretical and empirical fronts. ...
The forcing contract is in fact a special case of our model, obtained by setting ρ = 0. ...
doi:10.1007/s11129-005-0164-2
fatcat:wsxkswliefglrltqvttcnpdzsy
How to Deal with Unprofitable Customers? A Salesforce Compensation Perspective
2013
Social Science Research Network
salespeople have high productivity and low risk (i.e., risk aversion times uncertainty). ...
A salesforce compensation perspective We show that prices and incentives recommended by the salesforce literature when targeting a profitable segment can attract unprofitable customers, particularly when ...
Literature Review Marketing literature on salesforce compensation starting with Basu et al (1985) derives the optimal salesforce compensation plan using a principal agent model where the firm (the principal ...
doi:10.2139/ssrn.2277497
fatcat:lkklysdkgzgwrl73ngbblttxxq
Page 193 of The Journal of the Operational Research Society Vol. 44, Issue 2
[page]
1993
The Journal of the Operational Research Society
We also show that conventional wisdom about the relationship between compensation and uncertainty, and the optimal level of investment may only hold under restrictive assumptions when the principal is ...
(See Basu etal.’ and Berger and Jaffe* for applications of the principal agent theory to salesforce compensation.) ...
Optimal Investment by the Principal in Order to Increase the Probability of Favourable States of Nature in the Principal-Agent Model with Moral Hazard
1993
Journal of the Operational Research Society
We also show that conventional wisdom about the relationship between compensation and uncertainty, and the optimal level of investment may only hold under restrictive assumptions when the principal is ...
(See Basu etal.’ and Berger and Jaffe* for applications of the principal agent theory to salesforce compensation.) ...
doi:10.2307/2584368
fatcat:n6gpcftsqvdahpgfy2ziw5mpqy
Price delegation and salesforce contract design with asymmetric risk aversion coefficient of sales agents
2016
International Journal of Production Economics
For both centralized pricing and delegated pricing settings, the optimal compensation and pricing contracts are designed and the sensitivity analyses are conducted. ...
An important issue that has attracted the interest of academics and practitioners in both marketing and operations is, should pricing decisions be made by the firm or delegated to the salesforce? ...
rule on the revelation mechanism under demand uncertainty. ...
doi:10.1016/j.ijpe.2015.11.006
fatcat:hzqguohmpjcw5ohhou76fihsju
Salesforce incentive systems – an interdisciplinary review and research agenda
2014
Problems and Perspectives in Management
Company salesforce compensation plays an essential role in management control systems. ...
Although salesforce incentive systems (SIS) have been discussed in the literature for decades, many unanswered questions remain. ...
Mantrala et al. (1997) show, based on their theoretical model, that a renegotiation of quotas may generate positive learning effects for the salesforce regarding appropriate behavior in an uncertain environment ...
doaj:2b949c6d4a654f44832bbbb48013c0a2
fatcat:vcaybuofezadvfybfafbmmykxe
Experimental Evidence for Agency Models of Salesforce Compensation
2000
Marketing science (Providence, R.I.)
ABSTRACT EXPERIMENTAL EVIDENCE FOR AGENCY MODELS OF SALESFORCE COMPENSATION Academic work on sales compensation plans feature agency models prominently, and these models have also been used to build decision ...
First, compensation should be less incentive-loaded with greater effort-output uncertainty so as to provide additional insurance to a risk-averse agent. ...
We believe our study refines the scope of agency models of salesforce compensation and provides direction for future research in AT modeling. ...
doi:10.1287/mksc.19.4.348.11792
fatcat:o6pkcqqzqzhljlz72m6ccwen2y
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