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研究生:賴顗安
研究生(外文):LAI, YI-AN
論文名稱:獨立董事與非控制董事對 CEO 薪酬績效敏感度之影響-以中國為例
論文名稱(外文):The Influence of Independent Directors and Non-controlling Directors on CEO Pay Performance Sensitivity–Evidence From China
指導教授:林鳳儀林鳳儀引用關係
指導教授(外文):LIN, FENG-YI
口試委員:盧文民黃劭彥
口試委員(外文):LU, WUN-MINHUANG, SHAO-YAN
口試日期:2019-05-14
學位類別:碩士
校院名稱:國立臺北科技大學
系所名稱:經營管理系
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:2019
畢業學年度:107
語文別:中文
論文頁數:74
中文關鍵詞:獨立董事非控制董事薪酬績效敏感度
外文關鍵詞:Independent directorNon-controlling directorCEO pay performance sensitivity
相關次數:
  • 被引用被引用:0
  • 點閱點閱:178
  • 評分評分:
  • 下載下載:21
  • 收藏至我的研究室書目清單書目收藏:1
本研究選用2008~2017年中國上市櫃公司資料,探討獨立董事與非控制董事對CEO薪酬績效敏感度之影響。實證結果證明獨立董事無法提升CEO薪酬績效敏感度,而非控制董事則可提高CEO薪酬績效敏感度,顯示其較能有效監督管理高層。本研究進一步將企業有無CEO雙元性,以及是否為國有企業進行區分,並指出企業在不具有CEO雙元性或企業為非國有企業時,非控制董事較能有效監督管理高層。
In this research use the data of China companies from 2008 to 2017 to investigate independent directors and non-controlling directors’ effect on CEO pay performance sensitivity. The empirical results prove that independent directors cannot improve CEO pay performance sensitivity, while non-controlling directors can improve CEO pay performance sensitivity, indicating that non-controlling directors is more effective in supervising senior management. This study further compares whether the enterprise do not have a CEO duality, and whether it is a state-owned enterprise, proving out that when a company has a CEO duality or it is a non-state-owned enterprise, non-controlling directors can effectively supervise senior management.
第一章 緒論 1
1.1 研究背景與動機 1
1.2 研究目的 4
1.3 研究流程 5
1.4 論文架構 7
第二章 文獻探討與研究假說 8
2.1 公司治理 8
2.2 董事會功能及結構 11
2.3 CEO薪酬績效敏感度 17
2.4 研究假說 20
第三章 研究設計 23
3.1 研究架構 23
3.2 樣本選取與資料來源 24
3.3 變數定義 26
3.3.1 應變數 26
3.3.2 自變數 26
3.3.3 控制變數 28
3.4 實證模型 32
第四章 資料分析與結果 36
4.1 敘述性統計分析 36
4.2 相關性分析 37
4.2.1 VIF變異數膨脹因子 37
4.2.2 Pearson相關係數分析 38
4.3 多元迴歸分析 40
4.3.1 衡量CEO薪酬績效敏感度與不同董事間之關係 40
4.3.2 CEO雙元性對CEO薪酬績效敏感度之影響 43
4.3.3 國有企業與非國有企業之CEO薪酬績效敏感度 47
4.4 穩健性測試 51
第五章 結論 63
5.1 研究結論 63
5.2 研究意涵 66
5.3未來研究建議 67
參考文獻 68


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