A Research Framework on Effect of Executive Compensation on Firm Performance:Managerial Discretion And Monitoring Intensity As The Antecedents
With the recent fierce development of financial crisis, more and more theorists and practitioners have focused on both the excessively high executive compensation and the inversed relation between executive compensation and firm performance, which shows that the principal-agent theory can not explain the determining mechanism of executive compensation any more. By adopting the emerging managerial discretion approach, the paper constructs a research framework on the relationship among executive compensation, managerial discretion, monitoring intensity and firm performance, in which managerial discretion and monitoring intensity are taken as the exogenous antecedents, and executive compensation is taken as the independent variable, and firm performance is taken as the endogenous dependent variable. According to the framework, some research hypothesizes worthy of further studying are provided.
executive compensation firm performance managerial discretion monitoring intensity research framework
Zhang Changzheng Gan Kai
School of Economics and Management Xian University of Technology Xian, China
国际会议
成都
英文
388-392
2010-07-09（万方平台首次上网日期，不代表论文的发表时间）