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研究生:陳柏蓉
研究生(外文):Chen Po-Jung
論文名稱:董事薪酬與公司績效關聯性之研究:論潛在肥貓之效果
論文名稱(外文):The Relationship between Board Compensation and Firm Performance: The effect of Potential Fat Cat
指導教授:蔡柳卿蔡柳卿引用關係李鴻文李鴻文引用關係
指導教授(外文):Tsai Liu-ChingLee Hung-Wen
學位類別:碩士
校院名稱:國立嘉義大學
系所名稱:企業管理學系
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2018
畢業學年度:106
語文別:中文
論文頁數:61
中文關鍵詞:董事薪酬肥貓公司績效
外文關鍵詞:board compensationfat catfinance performance
相關次數:
  • 被引用被引用:1
  • 點閱點閱:339
  • 評分評分:
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:1
本研究以董事酬金與公司績效之連結程度來認定董事酬金之合理性,以2008至2016年為研究期間,篩選出10,911個研究樣本進行檢測。本研究實證發現:公司績效與董事酬金存在正向關係。之後更進一步將樣本資料分群,分為潛在肥貓之群體與不存在潛在肥貓之群體,實證結果發現存在潛在肥貓的公司,其公司績效與董事酬金關聯性較低。此外,本研究並將董事酬金分為非誘因性薪酬與誘因性薪酬,進一步檢測公司績效與各類董事酬金的關聯性。依據實證的結果,可以發現公司績效會顯著影響非誘因性薪酬與誘因性薪酬的多寡;尤其有潛在肥貓之公司,公司績效與非誘因性薪酬與誘因性薪酬之連結度皆不高。
This research explores the rationality of director compensation from the linkage between director compensation and firm performance. Based on the 10,911 samples composed from listed companies in Taiwan from 2008 to 2016, the empirical result indicates the compensation of directors is positively related to firm performance. Furthermore, the researcher divides samples into “Potential fat cat” and “Non-fat cat” groups and obtains the result that the performance of firms with potential fat cat has lower relevance to the director compensation.
In addition, to further examine the relevance between firm performance and director compensation, the researcher divides director compensation into “Non-incentive compensation” and “Incentive compensation.” The result excludes firm performance has significant impacts on both non-incentive and incentive compensation. Especially, the performance of firms with potential fat cat has lower relevance to both non-incentive and incentive compensation.
摘要...................................................I
Abstract..............................................II謝.辭................................................III
目錄..................................................IV
表目錄................................................VI
第壹章 緒論............................................1
第一節 研究背景與動機...................................1
第二節 研究目的........................................3
第三節 研究架構........................................4
第貳章 文獻探討........................................5
第一節 公司治理........................................5
第二節 董事酬金........................................7
第三節 董事會特性和薪酬之關聯性........................17
第四節 肥貓的定義.....................................21
第參章 研究設計.......................................24
第一節 研究假說.......................................24
第二節 資料來源與樣本選取..............................26
第三節 研究模型.......................................28
第四節 變數定義......................................30
第肆章 實證結果與分析.................................33
第一節 敘述性統計分析.................................33
第二節 公司績效對董事酬金之影響........................38
第伍章 結論與建議.....................................50
第一節 結論..........................................50
第二節 研究貢獻與建議.................................51
參考文獻..............................................52
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證券暨期貨月刊,第30卷第3期,5-25。
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