Impact of Executive Compensation , Industrial Difference and Compensation Committee on Firm Performance.
| Autor: | Chi-MienSu, 蘇琪棉 |
|---|---|
| Rok vydání: | 2016 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 104 This study uses Taiwan’s TSE listed and OTC companies from 2010 to 2014 as research samples to verify the effect of executive compensation on a company’s operating performance. The correlations of total executive compensation, fixed compensation and incentive compensation with accounting performance (ROE) and market performance (Tobin’s Q) are respectively discussed, and then the different effects of top executive compensation on company performance in different industries are verified. Finally, the effect of the setup of a compensation committee on company performance from the perspective of corporate governance is studied. The empirical results show that only accounting performance (ROE) will be significantly affected by executive compensation, but in the opposite direction. In addition, there is a partial industrial difference in the top executive compensation’s effect on firm performance, but the correlation is not entirely positive. Finally, because the setup of a compensation committee increases a company’s fixed operating costs and reduces shareholders’ rights and interests, it has a significantly negative effect on accounting performance (ROE). However, from the perspective of information disclosure and information transparency, a compensation committee can increase the transparency of company management’s compensation, and has a positive effect on market performance (Tobin’s Q). |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|