Title: Improvement of top managers' incentive and restrictive mechanism view on listed company's governance index
Abstract: By analyzing the CCGINK(Chinese Corporate Governance Index),published by Corporate Governance Research Center of Nankai University,draws the conclusions that the of top managers' governance level enhanced continually in the past three years;appointment and removal system,executive guarantee system have developed well;but the incentive and restrictive mechanism is incompatible with the development of the top managers' governance.By analyzing the impact of present incentive and restrictive mechanism,yearly salary system,stock holding system and profit sharing system on top managers finds out: yearly salary system doesn't has an obvious incentive effect;stock holding system is a long-term incentive tactics;pre-tax profit sharing has no direct incentive effect,and profit sharing after tax embodies the managers' human capital value.
Publication Year: 2008
Publication Date: 2008-01-01
Language: en
Type: article
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