Font Size: a A A

A Study On The Managerial Incentive And Constraining Mechanisms In Listed Companies

Posted on:2004-08-09Degree:DoctorType:Dissertation
Country:ChinaCandidate:Z F WangFull Text:PDF
GTID:1116360122966163Subject:Political economy
Abstract/Summary:PDF Full Text Request
At present, the managerial incentive and constraining is one of the important theoretic and practical issues in China's economic development process, and how it goes is of great theoretical and practical significance to the reforming and development progress of Chinese firms. This dissertation, from the perspective of economics and management, and mainly from the perspective of economics, conducts an exploratory research on the managerial incentive and constraining mechanisms in listed companies. By reviewing the existing literatures on the managerial incentives and constraining at home and abroad, this dissertation summarizes the research findings of the relevant theories, evaluates the valuable viewpoints and issues requiring further exploration and development, which constitutes the basis for the consequent researches of this dissertation.This dissertation takes in the latest research results and the theoretic methods concerning the study on managerial incentive and constraining both at home and abroad in recent years, and extends the analysis to the managerial incentive and constraining issues in the listed companies in China, striving to have a handling of the universal rules about the managerial incentive and constraining issues. The basic theoretic research includes the following four aspects: why is it necessary tomotivate and constrain the managers in the listed companies? What are the conditions needed to motivate and constrain the managers? How to motivate and constrain them? And what is the best or optimal incentive and constraining mix?This dissertation, firstly, takes the managerial incentive and constraining mechanisms in the listed companies as the research subject. Based on defining andclarifying the connotations and extensions of the basic concepts concerned, thisdissertation holds that the incentives and constraints are of dialectical unity relationship.Secondly, this dissertation thoroughly expounds the necessary and sufficient conditions for managerial incentive and constraining, and reveals the inherent relationship between the necessary conditions and sufficient conditions, thus answering the question "why is it imperative to motivate and constrain the managers?".Thirdly, this dissertation, from both the macro and micro perspectives, analyzes the environment relevant to the managerial incentive and constraining in the listed companies in China. From the analysis, we are aware that the managerial incentive and constraining issues in the listed companies are subject to many factors and restraints and that we must take such factors into full consideration so that we could formulate feasible proposals for managerial incentive and constraining.Fourthly, the main body of this dissertation focuses on studying the forms and their contents of various incentives and constraints, including the yearly salary system, fringe benefits, stock incentive, stock options incentive, and spiritual incentive. The analysis and research on this part include concept defining, function introduction, origin seeking, and applications of the various forms in China; and the problems to be solved in practice and the external environment to be improved and the measures to be taken. By recognizing and analyzing the various forms of incentive and constraints, this dissertation aims at favoring the Chinese listed companies to find more effective ways in their managerial incentive and constraining.At last, based on the above analysis and for the purpose of achieving the optimal or the best state of incentive and constraint mix, the author of this dissertation puts forward the principles in designing the incentive mix and the concrete procedures to follow, helping the listed companies to explore specific models in compensation design.
Keywords/Search Tags:Listed companies, Managers, Incentives and Constrains, Mechanisms
PDF Full Text Request
Related items