Kevin J. Murphy

This book proposes a whole new system for incenting managers to act in the best interests of company owners. Reversing his earlier position - that companies probably weren't paying enough to attract the best executive talent - Jensen and his coauthors are now positing that, in fact, pay packages can be too high and too risk-free, causing otherwise highly talented managers to act in ways that destroy corporate value. The authors have identified the critical missing link in current incentive plans, namely that link between a manager's effectiveness in executing strategy and the capital market's valuation of the results, which they call strategic value accountability. They explain how it works and how to devise a plan that holds top managers accountable for creating long-term strategic value.

Aquatic weeds cause serious problems in water bodies throughout the world. They can, for example, block irrigation and drainage channels, interfere with fisheries, hinder navigation, and have environmentally undesirable effects on fresh-water ecosystems. The problems are most severe in tropical and subtropical countries, but they occur almost everywhere. The management of aquatic weeds poses special problems of its own. The main difficulty is to balance effective treatment against the undesirable side-effects that control operations may have on the ecosystem. This book, which is published for the European Weed Research Society, provides a detailed overview of the ecology and management of aquatic weeds, as well as the present status of aquatic weed problems in various continents. The environmental consequences of aquatic weed control measures are discussed in detail. The book will be of special interest to weed scientists, ecologists, agriculturalists, extension personnel, policy makers, and students.