Act of providing a person with things of economic value
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Financial compensation" – news · newspapers · books · scholar · JSTOR(November 2023) (Learn how and when to remove this message)
Financial compensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide for the costs of injuries that they have incurred. The aim of financial compensation is the preservation of relationships between those engaged in economic exchange.[1]
Kinds of financial compensation include:
Damages, legal term for the financial compensation recoverable by reason of another's breach of duty
Nationalization compensation, compensation paid in the event of nationalization of property
Payment
Remuneration
Deferred compensation
Executive compensation
Royalties
Salary
Wage
Employee benefits
Workers' compensation, to protect employees who have incurred work-related injuries
Financial compensation is often provided after service delivery failure in order to regain customer trust.[2] An associated response is to offer an apology that communicates the transgressor feels remorse.[1]
Financial compensation may be offered as an incentive.[3] Some offers are too good to refuse. They may become an undue inducement in which they distort people's judgment, contravene their interests and thereby cause harm.[3]
Financial compensation may be imposed by a judge, before a court, to a victim.[4]
^ abHaesevoets, Tessa; Reinders Folmer, Chris; De Cremer, David; Van Hiel, Alain (April 2013). "Money isn't all that matters: The use of financial compensation and apologies to preserve relationships in the aftermath of distributive harm". Journal of Economic Psychology. 35: 95–107. doi:10.1016/j.joep.2013.02.003. hdl:1854/LU-3119438. Retrieved 9 November 2023.
^Santos Gasparotto, Lisiane; Araujo Pacheco, Natália; Basso, Kenny; Francisco Dalla Corte, Vitor; Costa Rabello, Gisele; Gallon, Shalimar (February 2018). "The role of regulation and financial compensation on trust recovery". Australasian Marketing Journal. 26 (1): 10–16. doi:10.1016/j.ausmj.2018.01.002. Retrieved 9 November 2023.
^ abGordon, E.J.; Patel, C.H.; Sohn, M.-W.; Hippen, B.; Sherman, L.A. (February 2015). "Does Financial Compensation for Living Kidney Donation Change Willingness to Donate?". American Journal of Transplantation. 15 (1): 265–273. doi:10.1111/ajt.13004. Retrieved 9 November 2023.
^T.M. Desmet, Pieter; De Cremer, David; van Dijk, Eric (August 2011). "Trust recovery following voluntary or forced financial compensations in the trust game: The role of trait forgiveness". Personality and Individual Differences. 51 (3): 267–273. doi:10.1016/j.paid.2010.05.027. Retrieved 10 November 2023.
and 20 Related for: Financial compensation information
Financialcompensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide...
The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme for customers of UK authorised financial services firms. This...
Remuneration is the pay or other financialcompensation provided in exchange for an employee's services performed (not to be confused with giving (away)...
disease and over 10,000 had received financialcompensation from Chisso. By 2004, Chisso had paid $86 million in compensation, and in the same year was ordered...
Executive compensation is composed of both the financialcompensation (executive pay) and other non-financial benefits received by an executive from their...
only minor monetary compensation to the originating team (unless the waivers requested were re-entry waivers); financialcompensations are listed below....
Diagnosis: Murder. Although she and Marvin never married, Triola sought financialcompensation similar to that available to spouses under California's alimony...
benevolent neutrality toward Russia in the pending war with the Turks. As compensation for this support, Russia agreed to Austria-Hungary's control of Bosnia-Herzegovina...
of private ownership. Nationalization may occur with or without financialcompensation to the former owners. Nationalization is distinguished from property...
Reparations in America (N'COBRA) is an organization that advocates for financialcompensation for the descendants of former slaves in the United States. The National...
government review of the compensation process.: 566 On November 23, 2005, the Canadian government announced a $1.9-billion compensation package to benefit...
studies (1924–1932) and other studies how stimuli, unrelated to financialcompensation and working conditions, could yield more productive workers. Work...
no-fault accidental injury compensation scheme, commonly referred to as the ACC scheme. The scheme provides financialcompensation and support to citizens...
involvement in the scandal, and disputes the claims of those seeking financialcompensation for harm done. It is believed to be the largest case of child abuse...
Italian government also agreed to give the Roman Catholic Church financialcompensation for the loss of the Papal States. In 1948, the Lateran Treaty was...
Court of Appeal on 14 March 1991. The six men were later awarded financialcompensation ranging from £840,000 to £1.2 million. The Birmingham pub bombings...
company. She becomes a surrogate for Ido and Elie, and sees the financialcompensation as a way to rent an apartment for herself and Uri. She stays with...
Compensation and benefits (C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation...
Italy's finance minister pushed for financialcompensation from the European Union for his country's financial losses because of mass migration. As of...
Global Information