A Genetic Based Heuristic Algorithm for Optimal Estimation of BOD Compensation
| Autor: | Chiu, Chu, 邱菊 |
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| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 Agency theory suggests that compensation is a major factor in attracting, retaining, motivating, and rewarding senior executives. Since the financial crisis of 2008, many companies suffer from financial distress while their top managers continue to receive high pay. Therefore, the compensation arrangements of top managers and directors have attracted a lot of attention from the public and policy makers. Prior research has shown that the compensation of directors may be correlated with firm performance, firm size, and other individual characteristics. However, little has been discussed about how to set the optimal compensation or incentive mechanisms. The problem of determining the optimal compensation has been proven to be NP-hard. This study utilizes a genetic based heuristic methodology to generate the optimal compensation of board of directors and considers the following factors, including director experience, tenure, company size and board size. The advantage of the heuristic approach is that it takes into account both internal consistency and external competiveness. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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