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
|
否 |
國別
|
英國 |
公開徵稿
|
|
出版型式
|
,電子版 |