台湾上市公司的管理者报酬、研发投资与运营效率：公司规模和公司风险的调节作用

IF 1.2 Q3 BUSINESS, FINANCE Journal of Emerging Market Finance Pub Date : 2024-04-04 DOI:10.1177/09726527241232203

Hui-Tzu Lee, Lieh-Ming Luo, Chia-Chou Chiu

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引用次数: 0

摘要

我们的研究探讨了管理者报酬与研发投资和运营效率之间的关系，而研发投资和运营效率是台湾上市公司竞争优势的支柱。此外，研究还探讨了公司规模和公司风险如何调节这种关系。我们的研究结果验证了这两个假设，揭示了管理者报酬与研发投资和运营效率之间的正相关关系。此外，我们还发现，公司规模增强了这种联系，而公司风险则是削弱这种联系的因素。这些结果表明，台湾企业在制定管理者报酬时，既考虑了眼前的财务业绩，也考虑了对公司发展的持久贡献。本研究为促进长期竞争优势的因素与管理者薪酬结构之间的相互作用提供了当代证据。JEL Codes：G32, M12

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Managerial Compensation, R&D Investment, and Operating Efficiency in Taiwanese Listed Companies: The Moderating Effects of Firm Size and Corporate Risk

Our study explores how managerial compensations are associated with both R&D investment and operating efficiency, which are pillars of competitive advantage for Taiwanese listed companies. Additionally, it investigates how firm size and corporate risk moderate this relationship. Our study’s findings validate these two hypotheses, revealing a positive correlation between managerial compensation and both R&D investment and operating efficiency. Moreover, we observe that firm size enhances this connection, while corporate risk acts as a weakening factor. These results indicate that managerial compensation in Taiwanese companies is crafted with consideration for both immediate financial performance and enduring contributions to company development. The study contributes contemporary evidence on the interplay between factors fostering long-term competitive advantages and the structures of managerial compensation. JEL Codes: G32, M12

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来源期刊

Journal of Emerging Market Finance BUSINESS, FINANCE-

CiteScore

1.80

自引率

33.30%

发文量

期刊介绍： The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.