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| Title: | 高階經理人績效目標之期中衡量對棘輪現象的影響
The impact of interim bonus targets on ratcheting |
| Authors: | 劉玉筑
Liu, Yu-Zhu |
| Contributors: | 梁嘉紋
劉玉筑
Liu, Yu-Zhu |
| Keywords: | 棘輪現象
績效目標設定
季度績效目標
半年度績效目標
CEO獎酬
Ratcheting
Target revision
Quarterly bonus
Semi-annual bonus
CEO compensation |
| Date: | 2019 |
| Issue Date: | 2019-08-07 15:52:41 (UTC+8) |
| Abstract: | 過去許多研究皆探討高階經理人年度績效目標中的棘輪現象，但是少有文獻有針對高階經理人季度績效目標或半年度的績效目標做出相關討論。本研究以S&P 1500公司中CEO的季度或半年度績效目標做為樣本進行分析。實證結果發現，CEO季度或半年度的績效目標呈現兩種模式的棘輪現象。薪酬委員會於修訂CEO目標時，會同時將上季(半年)與去年同季(半年)的績效表現納入考量之中。除此之外，CEO季度或半年度績效目標棘輪的程度，會受到公司的季節性與其CEO是否接近退休年齡所影響。總括而言，本研究首次提供了關於高階經理人季度或半年度績效目標棘輪的實證證據。
Research in ratcheting has focused on executives’ annual performance targets. However, little research examine ratcheting in targets that measured quarterly or semi-annually. Using performance target data from CEOs with quarterly or semi-annual bonus plans in S&P 1500 firms, I find that CEOs’ performance information from the last quarter (or half-a-year) and from the same quarter (or half-a-year) last year are both incorporated in their target revision. Furthermore, the extent of target ratcheting varies with the degree of firms’ seasonality and CEO horizon. Overall, this study provides the first empirical evidence of ratcheting in quarterly and semi-annual targets. |
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| Description: | 碩士
國立政治大學
會計學系
106353004 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0106353004 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU201900364 |
| Appears in Collections: | [會計學系] 學位論文
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