The Relationships among Internationalization, Downside Risk, and Incentive Pay

• Main Authors: Chen Ting Ru, 陳亭如
• Other Authors: Wu Mong Ling
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/97243951281514050918

碩士 === 大葉大學 === 國際企業管理學系碩士班 === 97 === In this study, we extended agency-based by examining the role of downside risk in the structure of managerial compensation. We also investigated the relationship of internationalization and diversification strategy from real options theory. Data of S&P500 firms were 168 from firm level and 1622 form individual level. There are four major findings: (1) Internationalization strategy has a positive relationship with downside risk. (2) Related diversification has a negative relationship with downside risk. (3) The negative relationship with unrelated diversification and downside risk is not support. (4) Downside risk has a positive relationship with incentive pay.