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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/30078


    Title: 員工認股權證在薪資結構中的應用之實證分析
    Authors: 廖政豪
    Liao, Cheng-Hao
    Contributors: 胡聯國
    Hu, Lien-kuo
    廖政豪
    Liao, Cheng-Hao
    Keywords: 員工認股權
    薪資結構
    Date: 2004
    Issue Date: 2009-09-11 17:11:11 (UTC+8)
    Abstract: 本研究對於台灣公司之薪酬結構在現金、股票分紅、員工認股權三大激勵工具之間的配置比重感到興趣,因此藉由一個由代理理論所發展出來的理論模型,來檢視目前台灣公司所採取的薪酬制度結構是否可為股東創造最大利益,並且藉由探討理論及實務作法上的差異,希望可以做為未來台灣廠商設計薪酬結構時,對於激勵員工與最大化股東利益之間取得平衡的參考。
    本研究將對台灣廠商在九十二年度所採用的薪資架構進行(1)理論模型模擬(2)認股權評價(3)薪資結構迴歸分析等三方面進行探討。首先模擬由理論模型所導出的薪資結構工具之比例對股票波動度的敏感程度,以及理論配置與實際配置的比較;而實證迴歸的分析,則比較模擬結果與實證結果,以及實際上不同股票波動程度的公司對於薪資結構設計的差別。
    Reference: 中文部分
    1.吳坤明,『分紅與認股權哪一種激勵效果佳』,管理雜誌第339期,頁32-34
    2.林穎芬、劉維琪,2003,『從高階主管薪酬的研究探討代理理論在台灣的適用程度』,管理學報第20卷第2期,頁365-395
    3.林穎芬,1989,『民營企業最高主管報酬與公司譏笑之研究』,國立中山大學企業管理研究所未出版碩士論文
    4.洪玉婷,2001,『高階經理人員工認股權之設計與評價』,台灣大學財務金融研究所未出版碩士論文
    5.陳明園、石雅慧,『高階經理人薪酬-代理理論與競賽理論之實證研究』,台大管理論叢第15卷第1期,頁131-166
    6.陳金鈴,1997,『台灣上市公司股權結構之研究分析』,國立成功大學會計研究所未出版碩士論文
    7.傅鍾仁、歐進士、張寶光,2002,『我國企業經營者薪酬與績效指標之關聯性』,管理學報第十九卷第六期,頁1073-1096
    8.鄭為庠,1992,『高階主管薪酬計畫與薪酬決定因素之研究』,國立政治大學企業管理研究所未出版碩士論文
    英文部分
    1.Brookield, David and Ormrod, Phillip, 2000. Managerial decision and agency costs. Journal of Mutlinational Management, 10(3-4): 275-295
    2.Core, John E and Guay Wayne R., 2001. Stock option Plans for Non-Executive Employees. Journal of Financial Economics, 61(2): 253-287
    3.Davis, J., Schoorman, F., & Donaldson, L. (1997). Toward a stewardship theory of
    management. Academy of Management Review, 22: 20-47.
    4.DeFusco,RA, TS Zorn. and RR Johnson, 1990. The effect of executive stock option plans shareholders and bondholders. Journal of Finance, 45,No.2: 617-627.
    5.Freedman, SR, RT Keller and JR Montanari, 1982. The compensation program: Balancing organizational and employee needs. Compensation Review, 14(2): 47-53.
    6.Hall, Brian J and Murphy, Kevin J., 2000. Optimal exercise prices for executive stock options. National Bureau of Economic Research Working Paper, 7548: 11
    7.Hall, R.M. and D.D. Goodale, 1986. Personnel Management Journal, 12: 1-16.
    8.Holmstrom, B,1979.Moral Hazard and Observability. Bell Journal of Economics, 10: 74-91.
    9.Jensen, M.C. and W.H.Meckling, 1976.Theory of the firm: Managerial behavior-agency cost and owership structure. Journal of Financial and Economics, 3: 305-360.
    10.Johnson, Shane A and Tian, Yisong S., 2000. The value and incentive effects of nontraditional executive stock option plans. Journal of Financial Economics, 57(1):3-34
    11.Lazear, E., and S. Rosen, 1981. Rank-Order Tournament as
    Optimum Labor. Contracts. Journal of Political Economy, 89: 841-864.
    12.Reitman, David, 1993. Stock options and the strategic use of managerial incentives. American Economic Review, 83(3): 513-524
    13.Yermack, David, 1995. Docorporations award CEO stock options effectively? Journal of Financial Economics, 39(2-3): 237-69
    Description: 碩士
    國立政治大學
    國際經營與貿易研究所
    92351019
    93
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0923510191
    Data Type: thesis
    Appears in Collections:[國際經營與貿易學系 ] 學位論文

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