중국 상장기업의 경영자 보상체계와 기업지배구조
The Study on the Executive Compensation and Governance Structure in Chinese Listed Companies
0
조회
0
다운로드
0
인용
0
참고문헌
초록
Abstract
Top management incentive which is the research background of this is one of the key problems among modern firm theories. With the development of financial innovations, managerial ownership and options are also innovated greatly. Therefore, the performance incentive of top management has been greatly promoted. Top Management incentive has been acting as the most important issue throughout the entire process of economic reforms in China. This paper aims to analyze how performance and governance structures of chinese listed companies affect executives compensation. It becomes necessary to provide policy adjustment direction and target through describing Chinese enterprise' incentive situation precisely and discovering potential problems of performance incentives, and it also provides a theoretical basis both for institutional adjustment and micro-economy incentive scheme design.
참고문헌 (22)
- 나카가네 카츠지, "중국경제발전론" (2001), 나남출판
- 高明华, "论国有企业经营者内部激励制度的改革", 学习与探索, (6) (2001)
- 刘芳, "中国上市公司高管人员薪酬存在的问题及对策", 商场现代化 (2007)
- 孙永祥, "公司治理结构:理论与实证研究" (2002), 上海三联书店
- 王珺, "论转轨时期国有企业经理行为与治理途径", 经济研究 (1998)
- 王森, "中国的股票市场与上市公司风险研究" (2004), 经济科学出版社
- 文德, "浅析我国独立董事制度存在的问题", 商业文化 (2007)
- 吴敬琏, "股票期权与公司治理", 经济管理文摘 (2002)
- 徐经长, "国独立董事制度的现存问题及其完善对策", 山东社会科学 (2008)
- Aboody,D., "CEO stock option awards and the timing of corporate voluntary disclosures", Journal of Accounting and Economics, 29 (2000)
- Amihud,Yakov, "Risk Reduction As a Managerial Motive for Conglomerate Mergers", Bell Journal of Economics, 12(3) (1981)
- Aoki, "Controling Insider Control: Issue of Corporate Governance in Transition Economies" (1995), Corporate Governance in transitional Economies
- Berle, A., "The Modern Corporation and Private Property" (1932), Macmillan
- Beck,P., "Managerial Incentives in a Stock Market Economy", Journal of Finance, 37 (1982)
- Boschen,John F., "You Can Pay Me Now and You Can Pay Me Later : The Dynamic Response of Executive Compensation to Firm Performance", Journal of Business, 68 (1995)
- Core,J., "The Use of Equity Grants to Manage Optimal Equity Incentive Levels", Journal of Accounting and Economics, 28 (1999)
- Core,J., "Corporate governance, chief executive officer compensation, and firm performance", Journal of Financial Economics, 51 (1999)
- Jensen, M., "Theory of the firm: Managerial behavior, agency costs and ownership structure", Journal of Financial Economics, (3) (1976)
- Jensen,M., "Performance Pay and Top Management Incentives", Journal of Political Economy, 98 (1990)
- Mehran,H., "Executive Compensation Structure, Ownership, and Firm Performance", Journal of Financial Economics, 38 (1995)
- Yermack,D., "Do corporations award CEO stock option effectively?", Journal of Financial Economics, 39 (1995)
- Yermack,D., "Good Timing:CEO Stock Option Awards and Company News Announcements", Journal of Finance, 52 (1997)