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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/31826

    Title: 高階經理人薪酬變動之決定因素
    Other Titles: The determinants of the changes of executive compensation
    Authors: 張家萍;Chang, Chia-ping
    Contributors: 淡江大學產業經濟學系碩士班
    陳明園;Chen, Ming-yuan
    Keywords: 高階經理人薪酬;外部經理人勞動市場;公司績效;executive compensation;external managerial labor market;Corporate Performance
    Date: 2005
    Issue Date: 2010-01-11 01:18:29 (UTC+8)
    Abstract: 本文主要探討台灣上市公司高階經理人薪酬變動的決定因素,不同於現有的國內多數文獻以薪酬水準為研究,本文建立經理人薪酬之縱橫斷面資料(panel data),以探討薪酬變化的決定因素,這樣的分析方法將能夠更正確地檢驗薪酬和績效的關聯性與敏感度;此外,本文強調外部經理人勞動市場所決定的酬勞行情對經理人薪酬調整的影響。
    The purpose of this study is to understand the determinants of the changes of top executive compensation for Taiwan''s listed companies. Different from prior studies using Taiwan''s data, which are used to deal with the levels of executive pay, we focus on the changes of executive pay by constructing an unbalanced panel of compensation data. It allows us to correctly figure out the sensitivity of executive pay to firm performance. Moreover, we emphasize the influence of the “market rate” determined by the external managerial labor market on the setting of the executive pay.
    We find that the managerial labor market play a key role to determine the executive compensation besides the influence of company performance. More precisely, the executive compensation has to be increased (reduced) when it is underpaid (overpaid) than that in market rate. The magnitude of adjusting upward is about 1.5 times that of adjusting downward. This asymmetric variation indicates that there exists downward wage rigidity in the adjustment process. Finally, we also find that there is a non-linear relationship between the adjustment of executive compensation and the deviation from labor market in the last period. That is, the level of the adjustment of executive compensation significantly rises as deviation increases.
    Appears in Collections:[產業經濟學系暨研究所] 學位論文

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