کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9554463 | 1375958 | 2005 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Incentives for CEOs with multitasks: Evidence from Chinese state-owned enterprises
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Because each of the agent's multitasks can have several measures, the multitask agency theory predicts that incentive devices based on these measures can be complements or substitutes. However, the existing empirical literature on multitask agency considers only complementarity. This paper investigates both complementarity and substitutability of measures of CEO compensation theoretically and empirically. Using a panel data set of CEO contracts from more than 300 Chinese state-owned enterprises, we find empirical evidence that profits are not the only objective of the Chinese government in designing CEO contracts. Our findings about the determinants of incentive devices in China support predictions of the agency theory and the incomplete contracts theory. Journal of Comparative Economics33 (3) (2005) 517-539.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Comparative Economics - Volume 33, Issue 3, September 2005, Pages 517-539
Journal: Journal of Comparative Economics - Volume 33, Issue 3, September 2005, Pages 517-539
نویسندگان
Chong-En Bai, Lixin Colin Xu,