會議論文
| 學年 | 96 |
|---|---|
| 學期 | 2 |
| 發表日期 | 2008-06-28 |
| 作品名稱 | Does State/Private Ownership Affect the Relationship between Top Management Compensation and the Default Risk of Firms? Evidence from the Chinese Stock Market |
| 作品名稱（其他語言） | |
| 著者 | Yen, Sin-Hui; Chiu, Chien-Liang; Ting, Wei |
| 作品所屬單位 | 淡江大學會計學系;淡江大學財務金融學系 |
| 出版者 | |
| 會議名稱 | 2008年管理科學與經營決策國際學術研討會=The 2008 International Conference in Management Sciencesand Decision Making |
| 會議地點 | Taipei, Taiwan |
| 摘要 | Despite the Chinese economy having achieved an extraordinary rate of growth over recent decades, accompanied by the absorption of considerable amounts of foreign investment, the laws pertaining to business in China have clearly failed to keep pace with the country's market growth. It is therefore important for investors to carefully assess the associated risks in what is now considered to be the most important of all emerging markets; thus, in this study, we set out to examine the relationship between default risk and top management compensation in the Chinese stock market. Our results reveal that lower levels of top management compensation are accompanied by a greater likelihood of default. Furthermore, in addition to studying the relationship for the full sample, we divide the sample into two sub-groups, state-owned enterprises (SOEs) and privately-owned enterprises (POEs), and find that whilst the negative relationship between top management compensation and the default risk of firms persists for POEs, such a relationship is not discernible within SOEs. |
| 關鍵字 | Default risk;Top management compensation;State-owned enterprise |
| 語言 | en |
| 收錄於 | |
| 會議性質 | 國際 |
| 校內研討會地點 | 淡水校園 |
| 研討會時間 | 20080628~20080628 |
| 通訊作者 | |
| 國別 | TWN |
| 公開徵稿 | Y |
| 出版型式 | 紙本 |
| 出處 | 2008年管理科學與經營決策國際學術研討會論文集=Proceedings of the 2008 International Conference in Management Sciencesand Decision Making, p.171-185 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/95236 ) |