English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 110180/141115 (78%)
Visitors : 46601362      Online Users : 180
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version
    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/30996


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/30996


    Title: 員工認股權憑證設計與公司治理
    Authors: 何典諭
    Contributors: 屠美亞
    何典諭
    Keywords: 員工認股權憑證
    公司治理
    績效
    管理者自利
    Date: 2006
    Issue Date: 2009-09-14 09:01:47 (UTC+8)
    Abstract: 本研究針對民國91到95之間，台灣發行員工認股權憑證之上市上櫃公司進行調查，利用羅吉特迴歸模型進行分析，希望能夠透過員工認股權憑證設計與公司治理變數之間的關聯性研究，找出能夠反映員工認股權憑證設計是否偏向管理當局的公司治理變數，並且提供政府與投資人未來在政策制訂與決策上的一些參考依據。
    本研究使用「外部股東持股>5%總和」、「政府持有」、「盈餘股份偏離比」、「董事會規模」、「外部董監事」作為公司治理變數；分析結果發現在「盈餘股份偏離比」的部分，於樣本觀察期間，都呈現正向關係，並且於93、94年達到顯著。盈餘股份偏離比越大的時候，一般象徵著盈餘權的不對等，同時也隱含公司治理風險，因此由上述結果本研究推論，當盈餘股份偏離比擴大時員工認股選擇權的設計方式將更朝向管理當局的偏好靠近。支持管理權力假說的看法；當進一步利用同樣的方法針對含公司特性控制變數的迴歸結果進行跨期的一致性分析時，發現盈餘股份偏離比以及董事會規模的顯著性雙雙提高，盈餘股份偏離比依舊為正相關董事會規模也呈現正相關。
    Reference: Aboody, D., & Kasznik, R. (2000). CEO stock option awards and the timing of corporate voluntary disclosures. Journal of Accounting and Economics 29 , pp. 73-100.
    Becht, M., Bolton, P., & Roell, A. (2003). Corporate governance and control. Handbook of the Economics of Finance , pp. 1-109.
    Bechuk, L. A., & Fried, J. M. (2003). Executive compensation as an agency problem. Journal of Economic Perspectives 17 , pp. 71-92.
    Brenner, M., Sundaram, R., & Yermack, D. (2000). Altering the terms of executive stock options. Journal of Financial Economics 53 , pp. 103-128.
    Callaghan, S. R., Saly, P. J., & Subramanian, C. (2004). The timing of option repricing. Journal of Finance 59 , pp. 1651-1676.
    Chance, D. M., Kumar, R., & Todd, R. B. (2000). The "repricing" of executive stock options. Journal of Financial Economics 61 , pp. 129-154.
    Core, J. E., Holthausen, R. W., & F., L. D. (1999). Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51 , pp. 371-406.
    Djankov, S., LaPorta, R., Silanes, F. L., & Shleifer, A. (2005). The law and economics of self-dealing. Working Paper .
    Eisenberg, T., Sundgren, S., & Wells, M. T. (1998). Larger board size and decreasing firm value in small firms. Journal of Financial Economics 48 , pp. 35-54.
    Fama, E. F., & French, K. R. (1998, 6). Taxes, Financing Decisions, and Firm Value. The Journal of Finance VOL LIII, NO.3 , pp. 819-843.
    Gompers, P. A., Ishii, J. L., & Metrik, A. (2003). Corporate governmence and equity prices. Quarterly Journal of Economics 118 , pp. 107-155.
    Guay, W., Kothari, S. P., & Sloan, R. (2003). Accounting for employee stock options. American Economic Review 93 , pp. 405-409.
    Hall, B. J., & J., M. K. (2003). The trouble with stock options. Journal of Economic Perspectives 17 , pp. 49-70.
    Hamid, M. (1995). Executive compensation, ownership, and firm performance. Journal of Financial Economics 38 , pp. 163-184.
    Hartzell, J. C., & Starks, L. T. (2003). Institutional investors and executive compensation. Journal of Finance 58 , pp. 2351-2374.
    Harvey, K. D., & Shrieves, R. E. (2001). Executive compensation structure and corporate governance choices. Journal of Financial Research 24 , pp. 495-512.
    Hermalin, B. E., & S., W. M. (2003, 4). Boards of directors as an endogenously determined institution: A survey of the economic literature. Economic Policy Review , pp. 7-26.
    Holmstrom, B. (1979). Moral hazard and observability. Bell Journal of Economics 10 , pp. 74-79.
    Holmstrom, B. (1982). Moral hazard in teams. Bell Journal of Economics 13 , pp. 324-340.
    Ikaheimo, Kjellman, Holmberg, & Jussila. (2004). Employee stock option plans and stock market reaction: evidence from Finland. The European Journal of Finance (10, pp105-122).
    Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 4 , pp. 305-360.
    Kato, H. K., Lemmon, M., Lua, M., & James, S. (2005). An empirical examination of the costs and benefits of executive stock options: Evidence from Japan. Journal of Financial Economics forthcoming .
    Lambert, R. A., Larcker, D. F., & Weigelt, K. (1993). The structure of organizational incentives. Administrative Science Quarterly 38 , pp. 438-461.
    LaPorta, R., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy 106 , pp. 1113-1155.
    Lipton, M., & Lorsch, J. W. (1992). A modest proposal for improved corporate governmence. Business Lawyer 48 , pp. 163-184.
    Murphy, K. J. (1999). Executive compensation, in O. Ashenfelter, and D. Cards. Handbook of Labor Economics V.3 .
    Newman, H. A., & Mozes, H. A. (1999). Does the composition of the compensation committee influence CEO compensation practice? Financial Management 28 , pp. 41-53.
    Oyer, P., & Schaefer, S. (2005). Why do some firms give stock options to all employees?: An empirical analysis of alternative theory. Journal of Financial Economics 76 , pp. 99-133.
    Pasternack, D., & Rosenberg, M. (2003). What determines stock option contract design? Swedish School of Economic Review 88 .
    Ryan, H. E., Roy, & Wiggins, R. A. (2004). Who is in whose pocket? Director compensation, board independence, and barriers to effective monitoring. Journal of Finance 73 , pp. 497-524.
    Yermack, D. (1996). Higher market valuation of company news announcements. Journal of Finance Economics 40 , pp. 185-211.
    白嘉眉, & 郭秀春. (2004年2月16日). 公開發行公司財務資訊揭露及會計處理新趨勢. 證券暨期貨月刊, 頁 77.
    宋致皓. (2006). 董監酬勞與公司治理關聯性研究. 國立政治大學會計學系碩士論文.
    林柏廷. (2005). 員工認股權、盈餘管理與公司治理. 國立彰化師範大學會計學系碩士論文.
    張倫綺. (2006). 公司治理與員工認股權獎酬. 朝陽科技大學會計學系碩士論文.
    許崇源. (2004). 員工認股權制度及其會計處理. 經濟部商業司, 頁 2-8.
    陳盈翔. (2006). 公司治理機制與高階管理者薪酬關係之研究. 私立東海大學企業管理學系碩士論文.
    陳寶玉. (2006). 公司治理機制、員工認股權證發行效果與公司經營譏笑之相關性--以台灣上市櫃電子業為例. 國立高雄應用科技大學商務經營研究所碩士論文.
    藍凱莉. (2005). 台灣銀行業經理人超額報償與經營管理績效之關聯性. 國立逢甲大學經營管理碩士在職專班碩士論文.
    證期局. (2003). 員工認股權憑證適用疑義問答.
    Description: 碩士
    國立政治大學
    財務管理研究所
    94357033
    95
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0094357033
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

    Files in This Item:

    File SizeFormat
    index.html0KbHTML2247View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback