Добро пожаловать в клуб

Показать / Спрятать  Домой  Новости Статьи Файлы Форум Web ссылки F.A.Q. Логобург    Показать / Спрятать

       
Поиск   
Главное меню
ДомойНовостиСтатьиПостановка звуковФайлыДефектологияКнижный мирФорумСловарьРассылкаКаталог ссылокРейтинг пользователейЧаВо(FAQ)КонкурсWeb магазинШкольникамКарта сайта

Поздравляем!
Поздравляем нового Логобуржца feia2727 со вступлением в клуб!

Реклама

КНИЖНЫЙ МИР

EXECUTIVE COMPENSATION AND FIRM PERFORMANCE   Shu Tian and Peter L Swan

EXECUTIVE COMPENSATION AND FIRM PERFORMANCE

96 страниц. 2011 год.
LAP Lambert Academic Publishing
This study considers the determination of the ex ante pay-performance relationship. A single-period partial equilibrium model is used to show that the executive income can be expressed as a function of the firm''s return expressed in dollar terms. The executive income is jointly determined by the opening firm size and current return, which function as a managerial talent proxy and self-selection mechanism respectively. Comparing to Jensen and Murphy (1990) wealth-based Pay-Performance Sensitivity (PPS), this study presents an income- based PPS. The alternative PPS not only overcomes a misleading misspecification in Jensen and Murphy (1990), but also corrects Rosen''s (1992) argument for only including return in the pay performance relationship. This study finds empirically that both the opening firm size and stock return play a significant role in determining executive income. This study provides supplementary evidence to Murphy''s (1986) Learning Model. However,...
 
- Генерация страницы: 0.04 секунд -