A Study on the Relationship among Director Characteristics, Performance Indicators and Management Compensations: The Electronic Industry

• Main Authors: Tai, Lingna, 戴伶娜
• Other Authors: Wang, Maochang
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/27875132674835883539

碩士 === 中國文化大學 === 會計學系 === 99 === To connect with the world, Taiwan has enacted the Expensing Employee Bonus policy since 1st January 2008. Hence, it’s an extremely important issue to research the relationship among director characteristics, performance indicators and management’ compensations (director, general manager, and assistant general manager) under the corporate governance environment. This study focuses on accounting performance indicators (ex: return on assets, ROA or earnings per share, EPS), market per-formances (ex: stock return rate or Tobin’s Q), director characteristics, and directors’ compensations. Furthermore, this research explores whether there is any deferred ef-fect of directors’ compensations from director characteristics or performance indica-tors. This research has collected 525 samples, which are from the firms listed in Tai-wan Securities Exchange during the period 2008-2009 and selected the electronics industry. This research method applies multiple regression analysis and the empirical results are as follows: (A)All accounting performance have relationship significantly on the managements’ compensations. (B)When the market performances is the stock return rate or Tobin's Q, the directors’ compensations have relationship significantly. Tobin's Q has relationship signifi-cantly on general manager and assistant general manager. (C)The ownership rate of the board and the establishment of Audit Committee in Di-rector characteristics have relationship significantly on the directors’ compensa-tions. (D)Regarding the deferred effect, accounting performance and market performances on the managements’ compensations have relationship significantly.