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| Title: | 員工分紅對股價的影響-以賽局分析 |
| Authors: | 高 廷
Kao ,Tin |
| Contributors: | 謝淑貞
Shieh,Shwu-Jane
高 廷
Kao ,Tin |
| Keywords: | 員工分紅 |
| Date: | 2005 |
| Issue Date: | 2009-09-11 17:05:53 (UTC+8) |
| Abstract: | 國內企業慣以員工分紅來犒賞員工，也由於其特殊的會計入帳方式，導致在這個問題上的爭論不休。關於員工分紅的實證研究不少，但相關的理論模型卻一直缺乏。因此，本研究將透過聲譽效果理論模型的建立，推導出員工分紅確實可以作為一個分辨好壞公司的訊號，並且進而求出股價和員工分紅之間的關係。模型結論顯示，當員工分紅程度越高時，股東對於公司的評價也就越低，兩者之間存在反向的關係。
Profit sharing is an important instrument for the entrepreneurs to reward their employees. There are many disputes over this issue because of its particular accounting method. Many researchers have devoted themselves to econometric analysis of profit sharing empirically, but there is deficient in the theoretical model about this topic. In this thesis, we will build a reputation effect game theory to model profit sharing, and obtain a separating equilibrium, in which the profit sharing is a good signal to distinguish good managers and bad managers. Moreover, we reach the conclusion that stock price and profit sharing have a negative relation. |
| Reference: | 中文部分
劉念琪及范姜如萱， 2001，台灣電子資訊公司分紅入股措施對員工生產力之影響，台灣高科技產業人力問題研討會。
何信威，2003，分紅配股及財務績效之研究-以國內資訊電子產業上市公司為例, 交通大學科技管理所碩士論文。
徐甄璟，2003，分紅入股制度對台灣高科技公司獲利之影響: 採聯立迴歸模型分析法， 台灣大學財務金融所碩士論文。
張培真， 2003， 員工分紅入股與公司特質之關係及其對公司績效之影響，台灣大學會計學研究所碩士論文。
顏明宏， 2003， 員工分紅入股對公司股價與績效的影響, 台灣大學財務金融所碩士論文。
尹寶麟，2003， 台灣上市櫃公司員工分紅決策因子分析， 中山大學財務管理學系研究所。
藍科正、陳怡呈，1996，員工入股制度之探討，台灣銀行季刊，第47卷第1期：58∼80。
歐淑卉，2003，員工分紅配股對上市公司績效之影響，成功大學財務金融所。
英文部分
Agawal, A., and G.. N., Mandelker, 1987, Managerial Incentives and Corporate Investment and Financing Decision, The Journal of Finance 4, 823-837
Agawal, A., and C.R.Knoeber, 1996, Firm Performance and Mechanism to Control Angency Problems Between Managers and Shareholders, Journal of Financial and Quantatative Analysis 3, 377-397.
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Douglas W. Diamond, 1989, Reputation Acquisition in Debt Market, Journal of Political Economy 97, 828-862.
Doucouliagos, C. 1995, Working Participation and Productivity in labor managed and participatory capitalist : a meta-analysis, Industrial and Labor-Relation Review 49(1): 58-76.
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Hart, R.A. and Hubler, O., 1991, Are profit shares and wages substitute or complementary forms of compensation? Kyklos, 44(2), 221-232.
Jones, D. C. and T. Kato, 1995, The productivity effects of employee stock-ownership plans and bonuses: evidence from Japan panel data, The American Economic Review 85(3): 391-413.
Kose John and Joseph Williams,1985, Dividends, Dilution, and Taxes：A Signalling Equilibrium, The Journal of Finance Volume4, 1053-1071.
Kruse, D. L., 1993, Profit Sharing: Does it make a difference: the productivity and stability effects of employees profit sharing plans, MI: Upjohn Institute for Employment Research.
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Weitzman, M. L., and D. L. Kruse, 1990, Profit sharing and Productivity Paying for Productivity: A look at the evidence, Alan S. Blinder ed. Washington, DC: Brooking institution, 95-142.
Wadhwani S. B. and Wall, M, 1991, A Direct Test of the Efficiency Wage Model using UK Micro-Data, Oxford Economic Papers, 43, 529-548.
Yao, S, 1997, Profit sharing: bonus payment and productivity: A case study of Chinese state-owned enterprises, Journal of Comparative Economics 24: 281-296 |
| Description: | 碩士
國立政治大學
國際經營與貿易研究所
92351033
94 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0092351033 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
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