| Summary: | 碩士 === 逢甲大學 === 會計所 === 100 === This paper purpose in depression era, how to through the compensation enhance firm’s
future performance. Moreover, according to corporate life cycle perspective, when firm face a
different compensation through the life cycle to enhance the firm’s future performance. This
study has taken the listed companies in Taiwan as example and mainly to the global financial
crisis in 2007-2008 years to measure the economic depression, this time to explore how to
design executive compensation. To motivate senior managers of the efforts to promote the
firm reverts quickly to the standard of business performance.
This study used multiple regression analysis, the main findings in the economic
depression, different types of remuneration for senior managers will result in different impacts
firm performance. First, the overall total compensation of senior managers with the firm’s
future performance is a significant positive relationship. Furthermore, this study found the
depression era and the boom era in the contrary, in depression era, the company will focus on
the issuance of senior managers to determine the confirm compensation (salary, bonuses and
special expenses, and cash dividends) are not inclined to issuance of uncertain compensation
(stock dividends and employee stock options), motivation incentives, the better the firm’s
future performance. In addition, Taiwan''s electronics industry in the depression era, to give
senior managers to determine the confirm compensation (salary and cash dividends) to the
higher, the better the firm’s future performance; other non-electronic industry in Taiwan in the
depression era, offered to executive compensation structure of cash dividends, the higher the
better performance of the firm’s future performance. Finally, when in a different life cycle
stages in the depression era, the growing stage companies attached more importance to the
structure of the payment of cash dividends, the firm’s future performance is better. In addition,
when the enterprises to enter the mature stage, are not inclined to the issuance of stock
dividends on the firm’s future performance is better. Finally, when the company entered into a
recession phase, is not inclined to the payment of cash dividends, the firm’s future
performance better. The results of this study can be used as the company''s remuneration
committee to formulate the basis for executive compensation, and decision-making judged by
reference to any other interested person.
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