英国论文代写:经济危机产生的负面影响

英国论文代写:经济危机产生的负面影响

美国和英国的经济危机都对高管薪酬产生了负面影响,当公司的股票在市场上遭受不利影响时,有人提议限制高管薪酬(Hodgetts et al., 2006)。高管薪酬:支付给高管的薪酬与普通员工的薪酬设计不同。他们中的大多数人获得基本工资和绩效奖金。例如,Tesco CEO的薪酬是基于基本工资加上与公司销售业绩相关的奖金(Holmstrom and Kaplan, 2001)。这些奖金被认为是短期的激励,因为更高级别的高管需要在特定的时间内表现良好,才能获得更好的奖金。高管薪酬的其他方法包括授予他们股票期权和股票(Core and Guay, 1999)。为了维持股价,高层管理人员必须使自己的利益与公司其他股东的利益保持一致,因为这是他们唯一的盈利途径。虽然从长远来看这将激励高管,但也有可能高管出售公司的长期财富,使得股价上涨,从而实施期权。


英国论文代写:经济危机产生的负面影响
其他补偿公司高管的方式包括为他们提供退休计划、房屋租金和汽车津贴、儿童和俱乐部福利、医疗保险等(Frydman和Saks, 2010)。对公司股东的不利影响:如果支付给高管的薪酬大于其边际产量,即超过ceo对公司的贡献,可能会对股东的收益产生不利影响。标进行的一项研究在1993年到1995年,在2001年到2003年约1500家公司相比五支付高管已经证明,薪酬的比率之间的企业高管集体收入的上述时间翻了一番。尽管另一项研究提到,ceo薪酬相对于股东回报率的灵活性非常小。研究还指出,股东回报率的增加,如果增加10%,只意味着ceo薪酬的大约1%的增长。因此可以在这里提到,股东回报与ceo薪酬的相关性太小,不足以激励他们工作(Core and Guay, 1999)。

英国论文代写:经济危机产生的负面影响

The economic crisis in both the USA and the UK has adversely affected the executive pay and there has been proposal for capping the executive payments when company’s shares are suffering adversely in the market (Hodgetts et, al., 2006). Executives’ salary and compensation: The payments made to the executive are differently designed than the salaries of the general employees. Most of them receive a basic salary and a performance based bonus. For Instance, the pay of Tesco’s CEO is based on a basic salary plus bonuses related to sales based performance of the company (Holmstrom and Kaplan, 2001). These bonuses are considered as incentives for short period, since the executives at the higher level are required to perform well during a particular span of time to get better bonuses. Other methods of executive compensation include granting them with stock options and equities (Core and Guay, 1999). In order to maintain stock price high executives have to align their interest with that of the other shareholders of the company as that is only way for them to make profits. Though it will give incentives to the executives in the long run but it might happen that the executives sell the company’s long term wealth so that the stock price goes up and thus apply the option.


英国论文代写:经济危机产生的负面影响
Other ways of compensating the companies’ executive are providing them retirement plans, house rents and allowances for car, children and club benefits, medical insurance etc (Frydman and Saks, 2010).Adverse impacts on the shareholders of the company: If the compensation paid to the executives are greater than their marginal product i.e. more than what the CEOs contribute to their organizations might adversely impact the returns of the shareholders. A study conducted by Standard and Poor in the year 1993 to 1995 and in the year 2001 to 2003 for about 1500 firms compared to the five top paid executives has proved that the ratio of compensation of executives to the collective earnings of the corporate between the above mentioned periods has doubled. Though another study mentioned that the flexibility of compensation of the CEOs with compared to the rate of return to the shareholders is very petite. The study also stated that a increase in rate of return to shareholders if increased by 10 % will only mean an increase of approximately 1 % of the CEOs salary. So it can be mentioned here that the correlation of shareholders’ return with that of CEOs pay are too less to motivate them to work (Core and Guay, 1999).

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