| 標題：The Effects of Non-Expensed Employee Stock Bonus on Firm Performance: Evidence from Taiwanese High-Tech Firms |
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| 學年 | 104 |
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| 學期 | 2 |
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| 出版（發表）日期 | 2016/03/01 |
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| 作品名稱 | The Effects of Non-Expensed Employee Stock Bonus on Firm Performance: Evidence from Taiwanese High-Tech Firms |
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| 作品名稱（其他語言） | |
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| 著者 | Nien-Chi Liu; Ming-Yuan Chen; Mei-Ling Wang |
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| 單位 | |
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| 出版者 | |
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| 著錄名稱、卷期、頁數 | British Journal of Industrial Relations 54(1), pp.30-54 |
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| 摘要 | The choice of whether to expense broad-based stock incentives has been a highly controversial debate in both academic research and practice circles. We provide insightful findings to reconcile certain debates regarding the effectiveness of non-expensed, broad-based stock incentives. Using a unique longitudinal dataset from Taiwanese high-tech firms over the 1997–2008 period, our results indicate that non-expensed employee stock bonus incentives exerted positive effects on short-term organizational value added creation. The dilution effects of broad-based stock incentives in Taiwan, however, exerted a negative influence on profitability and eroded share return. The negative effects were even more severe in the following year, and overexploitation of employee stock bonus also damaged the long-term organizational performance of Taiwanese high-tech firms. This negative aspect of non-expensed employee stock incentives resulted in more evidence for changing the regulatory context of broad-based stock incentives in Taiwan. |
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| 關鍵字 | |
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| 語言 | 英文 |
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| ISSN | 1467-8543 |
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| 期刊性質 | 國外 |
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| 收錄於 | SSCI; |
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| 產學合作 | |
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| 通訊作者 | |
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| 審稿制度 | 否 |
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| 國別 | 英國 |
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| 公開徵稿 | |
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| 出版型式 | ,電子版 |
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| 相關連結 | |
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| SDGs | |
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