财经理论与实践
財經理論與實踐
재경이론여실천
The Theory and Practice of Finance and Economics
2014年
2期
84~90
,共null页
高管股权激励 激励型动机 非激励型动机 公司绩效
高管股權激勵 激勵型動機 非激勵型動機 公司績效
고관고권격려 격려형동궤 비격려형동궤 공사적효
Motivation of Executive Equity; incentive-based motivation; non-incentive-based motivation; firm performance
以股权激励动机为视角,研究了两类动机下高管股权激励与公司绩效之间的关系。研究结果表明,两类动机下的高管股权激励与公司绩效之间的关系显著不同:相比于非激励型股权激励与公司业绩呈不显著的负相关关系,激励型高管股权激励却能显著提高公司业绩。
以股權激勵動機為視角,研究瞭兩類動機下高管股權激勵與公司績效之間的關繫。研究結果錶明,兩類動機下的高管股權激勵與公司績效之間的關繫顯著不同:相比于非激勵型股權激勵與公司業績呈不顯著的負相關關繫,激勵型高管股權激勵卻能顯著提高公司業績。
이고권격려동궤위시각,연구료량류동궤하고관고권격려여공사적효지간적관계。연구결과표명,량류동궤하적고관고권격려여공사적효지간적관계현저불동:상비우비격려형고권격려여공사업적정불현저적부상관관계,격려형고관고권격려각능현저제고공사업적。
From the perspective of executive equity motivations, this paper studied the relationship between the two types of executive equity motivations and corporate performance. We found that the relationships of the two types of motivations of executive equity with corporate performance are significantly different: compared with the welfare-based motivation equity was insignificant negative correlation between the performances of the company, while the incentivebased one significantly improves the performance of the companies.