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題名：薪酬委員會打得到肥貓嗎？以高管、董監超額薪酬角度探討薪酬委員會品質之決定因素
書刊名：管理學報
作者：周雅英 引用關係／姚維仁／陳沂芳
作者(外文)：Yeh Chou, Mary Yaying／Yao, Wei-ren／Chen, Yi-fang
出版日期：2015
卷期：32:2
頁次：頁109-134
主題關鍵詞：薪酬委員會品質；超額薪酬；Compensation committee quality；Excess compensation
原始連結：連回原系統網址new window
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  • 被引用次數被引用次數:期刊(4) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:4
  • 共同引用共同引用:156
  • 點閱點閱:110
台灣證交法於2011年強制企業設立薪酬委員會，目前還不易看出薪酬委員會的具體成效。但是，委員會成員攸關薪酬委員會品質，委員會品質決定其運作成效。本研究主要探討影響企業遴選薪酬委員之因素，並聚焦於高管、董監超額薪酬對薪酬委員會品質之影響。實證結果發現高管超額薪酬與薪酬委員會品質顯著負相關，表示當高管領有超額薪酬時，自利動機可能會誘使企業降低薪酬委員會之監督功能。董監超額薪酬對薪酬委員會品質則無顯著影響，可能是台灣輿論與主管機關對董事薪酬過度關注，為避免肥貓誹議，企業反而不願降低薪酬委員會之品質。證交法修正條文並未強制要求獨董擔任薪酬委員，且專業資格要求也相當寬鬆，導致社會大眾對反肥貓條款功效的疑慮。本文針對企業設置心態提供實證，首度以超額薪酬角度探討企業設置影響薪酬委員會動機，結果可供有關當局之參考。
The Securities and Exchange Law was amended to request listing companies establishing compensation committees at the end of 2011. It is still too early to evaluate if the compensation committee functions well due to the short period of existence. For this reason, we focus mainly on the determinants of compensation committee quality, especially on firms with excess executive and director compensations. Using Taiwanese listed firms as samples in 2011, empirical evidences indicate significant negative relationships between excess executive compensations and a firm's compensation committee quality. This implies that firms with excess executive compensations demand weaker monitoring from compensation committee on management remuneration. However, we find insignificant associations between excess director compensations and compensation committee quality, perhaps due to the overwhelmed media and legislator attentions on directors' compensation. Our results are consistent and robust after a battery of tests using different years and method to measure excess compensations. The literature on compensation committee quality is quite limited and we are the first exploring the relationships between excess compensation and compensation committee quality using samples from the emerging market. The results contribute to the literature and provide policy implications.
Other
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期刊論文
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學位論文
1.李怡瑩(2011)。高階經理人薪酬與公司績效關係--薪酬委員會及專門委員會之調節效果(碩士論文)。國立高雄應用科技大學。  延伸查詢new window
2.林宜怜(2012)。財務壓力、審計與薪酬委員會成員重疊與審計品質對盈餘管理之影響：真實與應計盈餘管理(碩士論文)。國立中央大學。  延伸查詢new window
3.陳金華(2012)。薪酬委員會制度實施對我國公司治理之研究--以臺灣被動元件產業"P"公司為例(碩士論文)。國立交通大學。  延伸查詢new window
4.陳昱憲(2011)。薪酬與公司績效之關聯性研究--以臺灣銀行業為例(碩士論文)。國立東華大學。  延伸查詢new window
5.黃碧慧(2011)。審計與薪酬委員會成員重疊與CEO誘因薪酬：對公司績效與盈餘管理之影響(碩士論文)。國立中央大學。  延伸查詢new window
6.鍾志祥(2010)。審計與薪酬委員會成員重疊、CEO誘因薪酬與公司績效(碩士論文)。國立中央大學。  延伸查詢new window
7.饒雲韶(2012)。薪酬委員會特性與企業價值--中國之實證研究(碩士論文)。中國文化大學。  延伸查詢new window
圖書
1.Bebchuk, Lucian A.、Fried, Jesse M.(2004)。Pay Without Performance: The Unfulfilled Promise of Executive Compensation。Harvard University Press。  new window
2.Organization for Economic Cooperation and Development(2004)。OECD principles of corporate governance。Paris：Organization for Economic Cooperation and Development。  new window
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圖書論文
1.Murphy, K. J.(1999)。Executive compensation。Handbook of Labor Economics。Elsevier。  new window
 
 
 
 
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