高层管理人员与董事会成员的关系:他们如何影响薪酬绩效敏感性和IPO绩效

ERPN: Governance (Management) (Topic) Pub Date : 2014-04-30 DOI:10.2139/ssrn.2431219

S. Chahine, M. Goergen

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引用次数: 27

摘要

本文首次研究了在高层管理人员与董事会成员存在社会关系和家庭关系的情况下，薪酬绩效敏感性(PPS)对首次公开发行(ipo)绩效的影响。我们发现社会关系和家庭关系都会增加PPS。反过来，PPS提高了IPO业绩。更重要的是，更高的PPS增加了社会关系对IPO绩效的积极影响，降低了家庭关系对IPO绩效的负面影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Top Management Ties with Board Members: How They Affect Pay-Performance Sensitivity and IPO Performance

This paper is the first study on the effects of pay–performance sensitivity (PPS) on the performance of initial public offerings (IPOs) in the presence of social ties and family ties of the top managers with board members. We find that both social ties and family ties increase PPS. In turn, PPS improves IPO performance. More importantly, greater PPS increases the positive effect of social ties on IPO performance whereas it reduces the negative effect of family ties.

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ERPN: Governance (Management) (Topic)

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