The Relationship between Corporate Performance and Top Manager Team Compensation – The Moderating Effects of Compensation Committee Quality and Corporate Governance Evaluation

• Main Authors: CHANG,WEN-HSUAN, 張妏瑄
• Other Authors: LIU,YUN-SHI
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/9dj7w5

碩士 === 國立雲林科技大學 === 企業管理系 === 104 === In order to explore the relationship between corporate performance and top manager’s compensation and to analyze the quality of compensation committee, the evaluation of corporate governance and the moderating effects of family ownership, the study divides top manager’s compensation into top manager’s total compensation, top manager’s basic compensation and top manager’s bonus compensation. The study discusses the relationship between corporate performance and top manager’s compensation; whether the quality of the compensation committee positively moderates the relationship between corporate performance and top manager’s compensation; whether the corporate governance evaluation positively moderates the relationship between corporate performance and top manager’s compensation; and whether the family ownership weakens the quality of the compensation committee and positively moderates the relationship between corporate performance and top manager’s compensation. The study uses 2012-2014 listed companies as samples excluding financial industry. The analyzing result shows that corporate performance positively influences top manager’s bonus compensation and the quality of compensation committee positively adjusts the relationship between corporate performance and top manager’s bonus compensation. However, the evaluation of corporate governance does not significantly moderate corporate performance and top manager’s bonus compensation and family ownership would weaken the moderation of compensation committee quality to corporate performance and top manager’s bonus compensation. The study result shows that top manager’s bonus compensation differs due to corporate performance and the quality of compensation committee positively moderates the relationship between corporate performance and top manager’s compensation. However, the first corporate governance evaluation held by Taiwan Corporate Governance Association showed that the evaluation could not moderate the relationship between top manager’s bonus compensation and corporate performance; it might because corporate governance evaluation in Taiwan is not mature yet and also indicates that there is still much room for improvement in Taiwan’s corporate governance system. Taiwan being in Chinese market, family has many influences in corporate. The higher of family ownership in the corporate, the more opportunities to weaken the quality of compensation committee positively influence the relationship between corporate performance and top manager’s compensation. It represents that the family ownership still occupies an important influence in the board of directors in Taiwan.