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2004 | nr 2 | 12--16
Tytuł artykułu

Wynagradzanie oparte na własności jako element ładu korporacyjnego - w poszukiwaniu optimum

Warianty tytułu
Języki publikacji
PL
Abstrakty
Przedmiotem zainteresowania jest zagadnienie wynagradzania opartego na własności (ecquity-based lub stock-based executive compensation) jako jednej z form wynagradzania kierownictwa korporacji. Zwrócono uwagę na wynagradzanie menedżerów akcjami i opcjami na akcje, w aspekcie efektywności tego mechanizmu nadzoru korporacyjnego.
Rocznik
Numer
Strony
12--16
Opis fizyczny
Twórcy
Bibliografia
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  • [2] ABOWD J. M., KAPLAN D. S., Executive Compensation: Six Questions That Need Answering, „Journal of Economic Perspectives" 13: 145-68, 1999.
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  • [4] BAKER G., HALL B., CEO Incentives and Firm Size, NBER Working Paper no. 6868, 1998.
  • [5] BARTOV E., KRINSKY L., LEE J., Some Evidence on How Companies Choose between Dividends and Stock Repurchases, „Journal of Applied Corporate Finance" 11: 89-96, 1998.
  • [6] BLACK F., SCHOLES M., The Pricing of Options and Corporate Liabilities, „Journal of Political Economy" 81: 637-54, 1973.
  • [7] BRYAN S., HWANG L., LILIEN S., CEO Stock-Based Compensation: An Empirical Analysis of Incentive-Intensity, Relative Mix, and Economic Determinants, „Journal of Business" 73: 661-93, 2000.
  • [81 CARPENTER J., Does Option Compensation Increase Managerial Risk Appetite?, „Journal of Finance" 55: 2311-31, 2000.
  • [9] CORE J. E, GUAY W.R., LARCKER D.F., Executive Equity Compensation and Incentives: A Survey, FRBNY „Economic Policy Review" / April 2003.
  • [10] CORE J., GUAY W., Stock Option Plans for Nonexecutive Employees, „Journal of Financial Economics" 61: 253-87, 2001.
  • [11] CORE J., GUAY W., The Use of Equity Grants to Manage Optimal Equity Incentive Levels, „Journal of Accounting and Economics" 28: 151-84, 1999.
  • [12] CORE J., HOLTHAUSEN R., LARCKER D., Corporate Governance, Chief Executive Officer Compensation, and Firm Performance, „Journal of Financial Economics" 51: 371-406, 1999.
  • [14] FRYE M., Equity-Based Compensation for Employees: Firm Performance and Determinants, unpublished paper, University of Central Florida, 2001.
  • [15] GIBBONS R., MURPHY K., Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence, „Journal of Political Economy" 100: 468-505, 1992.
  • [16] HALL B., MURPHY K., Optimal Exercise Prices for Executive Stock Options, „American Economic Review" 90: 209-14, 2000.
  • [17] HIMMELBERG C., HUBBARD G., PALIA D., Understanding the Determinants of Managerial Ownership and the Link between Ownership and Performance, „Journal of Financial Economics" 53: 353-84, 1999.
  • [18] JENSEN M., MECKLING W., Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure, „Journal of Financial Economics" 3, no. 4 (October): 305-60, 1976.
  • [19] JENSEN M., MURPHY K., Performance Pay and Top-Management Incentives, „Journal of Political Economy" 98: 225-64, 1990.
  • [20] JOHNSON S., La PORTA L., LOPEZ-de-SILANES F., SHLEIFER A., Tunelling, „American Economic Review Papers and Proceedings", May, 2000.
  • [21] KAPLAN S., The Effects of Management Buyouts on Operating Performance and Value, „Journal of Financial Economics" 24: 217-54, 1989.
  • [22] KAPLAN S., Top Executive Rewards and Firm Performance. A Comparison of Japan and the U.S., University of Chicago Working Papers, 1993.
  • [23] La PORTA L., LOPEZ-de-SILANES F., SHLEIFER A., VISHNY R.W., Investor Protection and Corporate Valuation, NBER, 1999.
  • [24] La PORTAL., LOPEZ-de-SILANES F, SHLEIFER A, VISHNY R.W., Law and Finance, NBER, 1996.
  • [25] La PORTA L., LOPEZ-de-SILANES F., SHLEIFER A, VISHNY R.W., Legal Determinants of External Finance, NBER, 1997.
  • [26] La PORTA R., LOPEZ-De-SILANES F., SHLEIFER A., Corporate Ownership around the World, „Journal of Finance" 54, no. 2: 471-517, 1999.
  • [27] LAMBERT R., LANEN W., LARCKER D., Executive Stock Option Plans and Corporate Dividend Policy, „Journal of Financial and Quantitative Analysis" 24: 409-25,1989.
  • [28] LAZEAR E., Personnel Economics, Cambridge: MIT Press, 1995.
  • [29| MAY D., Do Managerial Motives Influence Firm Risk Reduction Strategies?, „Journal of Finance" 50: 1291-1308, 1995.
  • [30] MORCK R., SHLEIFER A., VISHNY R., Management Ownership and Market Valuation: An Empirical Analysis, „Journal of Financial Economics" 20: 293-316, 1998.
  • [31] MURPHY K., Corporate Performance and Managerial Remuneration: An Empirical Analysis, „Journal of Accounting and Economics" 7: 11-42, 1985.
  • [32] SHLEIFER A., VISHNY R., A Survey of Corporate Governance, „Journal of Finance" 52, no. 2: 737-84, 1997.
  • [33] SMITH A., Corporate Ownership Structure and Performance: The Case of Management Buyouts, „Journal of Financial Economics" 27: 143-64, 1990.
  • [34] SMITH C., STULZ R., The Determinants of Firms'Hedging Policies, „Journal of Financial and Quantitative Analysis" 20: 391-405, 1985.
  • [35] YERMACK D., Do Corporations Award CEO Stock Options Effectively?, „Journal of Financial Economics" 39: 237-69, 1995.
  • [36] YERMACK D., Good Timing: CEO Stock Option Awards and Company News Announcements, „Journal of Finance" 52: 449-76, 1997.
  • [37] ZALEGA K., Tunelowanie czyli transfer aktywów i zysków z korporacji, „Organizacja i Kierowanie" 3/2002.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000000119445

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