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    Title: 企業成長機會與裁量性紅利關連性之研究
    On the association between growth opportunities and discretionary bonus
    Authors: 郭芫宇
    Contributors: 梁嘉紋
    郭芫宇
    Keywords: 裁量性紅利
    企業成長機會
    公司績效
    Date: 2011
    Issue Date: 2012-10-30 11:43:24 (UTC+8)
    Abstract: 在2004年時,美國證券交易委員會規定企業應於Form 8-K或股東會說明書揭露高階經理人所得之裁紅利金額,並明確劃分公式型紅利與裁量性紅利之定義,前者為依契約設定之績效衡量指標所發放之金額,後者為薪酬委員會利用主觀性指標裁決發放之金額。
    企業成長機會屬於公司特性之一,不同的公司面臨不同成長機會,成長機會較大的公司其價值來自於未來的投資計畫,依賴高階經理人的決策程度高,因此會給予高較大的報酬。而相對地,成長機會較小的公司由於其現有資產較大,高階經理人重在監督現有資產而少有投資決策的功能,因此其獎酬較小。有別於過去研究對企業成長機會與高階經理人之薪酬,本研究將針對裁量性紅利是否會受到企業成長機會之影響。
    本研究針對2006至2010年標準普爾前五百(S&P 500)之公司,進行高階經理人裁量性紅利與企業成長機會之探討。以企業成長機會大小及企業績效,分別探討與高階經理人所得之裁量性紅利之關聯。實證結果發現,企業成長機會大時,越會發放高階經理人之裁量性紅利;本研究亦發現,公司成長機會愈大且獎酬委員會依照主觀性指標衡量高階經理人之表現加以發放裁量性紅利,具有激勵高階經理人之效果,進而正面影響公司績效。
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    Description: 碩士
    國立政治大學
    會計研究所
    99353047
    100
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0099353047
    Data Type: thesis
    Appears in Collections:[Department of Accounting] Theses

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