An Investigation of Ownership Structure , Managerial Compensation ,and Operating Performance in Taiwanese Banking Industry
碩士 === 銘傳大學 === 財務金融學系碩士在職專班 === 100 === The aim of this study is to investigate the relationship among ownership structure, managerial compensation, and operating performance. A set sample includes 23 commercial banks and the empirical period is from 2006 to 2010. This study adopts the exploratory...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2012
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| Online Access: | http://ndltd.ncl.edu.tw/handle/21284119436806728965 |
| Summary: | 碩士 === 銘傳大學 === 財務金融學系碩士在職專班 === 100 === The aim of this study is to investigate the relationship among ownership structure, managerial compensation, and operating performance. A set sample includes 23 commercial banks and the empirical period is from 2006 to 2010. This study adopts the exploratory factor analysis (EFA) and the structure equation model (SEM) to execute the estimation procedures. Results are shown as follows :
1.The effect of ownership structure on manager compensation is significantly positive. Hypothesis 1 could not be rejected. This indicates that the higher ownership top management holds, the more managerial compensation they yield.
2.The effect of ownership structure on operating performance is significantly positive. Hypothesis 2 could not be rejected. This indicates that the higher ownership top management holds, the higher operating performance banks have. The result is consistent with the convergence of interest hypothesis.
3.The impact of managerial compensation on operating performance is insignificantly negative. Hypothesis 3 could not be acceptrd. This implies incentive compensation is not working in Taiwanese banking industry.
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