期刊論文

標題 The Effects of Non-Expensed Employee Stock Bonus on Firm Performance: Evidence from Taiwanese High-Tech Firms
學年 104
學期 2
出版(發表)日期 2016/03/01
作品名稱 The Effects of Non-Expensed Employee Stock Bonus on Firm Performance: Evidence from Taiwanese High-Tech Firms
作品名稱(其他語言)
著者 Nien-Chi Liu; Ming-Yuan Chen; Mei-Ling Wang
單位
出版者
著錄名稱、卷期、頁數 British Journal of Industrial Relations 54(1), pp.30-54
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.
關鍵字
語言 英文
ISSN 1467-8543
期刊性質 國外
收錄於 SSCI;
產學合作
通訊作者
審稿制度
國別 英國
公開徵稿
出版型式 ,電子版