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Homogenous Contracts for Heterogeneous Agents: Aligning Salesforce Composition and Compensation

Oystein Daljord, Sanjog Misra, Harikesh Nair
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

James A. Dearden, Gary L. Lilien
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

Øystein Daljord, Sanjog Misra, Harikesh S. Nair
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

Manfred Krafft
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

Francis de Véricourt, Denis Gromb
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

George John, Barton Weitz
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

George John, Barton Weitz
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

Hojin Jung, Kyoung-Min Kwon
2016 The Journal of the Korea Contents Association  
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

Sanjog Misra, Anne T. Coughlan, Chakravarthi Narasimhan
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

Sumitro Banerjee, Alex Thevaranjan
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

Matthew A. Waller
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

Yue Dai, Xiuli Chao
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

Michael Georgi, Maik Lachmann
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

Mrinal Ghosh, George John
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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