业绩衡量标准与管理人员报酬契约

(100081),,,,,,,,,,,,,,,,,,,,,,,,,,,,(),,,,,,,,13,,,200217©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.:;1.,,,,,;,,,,,(WilliamR.Sat)2.,,,,,,,,,,,,,,(),,,EVA,,,,,,,,,,,,,;,,,,,,,,(BushmanandIndjejikian,1993)(JimandSuh,1993)(1994),,,,,,,,,()23200217©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.,,,,,,,,,,,,,,,,,,,,,,;,,,(),,1.,:(1),(,2001),,(2),,,,,,,(3),,,,,,,,2.,,:(1),,,,,,(2),,,(3),,,,,,,33200217©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.,,,,,,,,,,,,,,,(),,,,,,,,,,,;,(,),,,(2001),20001999,,20014302000,1090,503,4612%(56169%);855,385,45%,(62113%);,3314%,,,,,,,,()1.,,,,,,,,,,,,,,,,2000,68,3%,2000300,543200217©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.,,,(1),,,,,(),,,,,,,,(2),,,,,;,,,,,,,,,,,2.,,,,,,,,,,200,,,,,,,,,,,,,,,,,200020,,,,,!,,,.2001..:WilliamR.Scott..53200217©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.EnglishAbstractsofMainPapersTherevolutionoffinancialtheoryparadigmandthethinkonsystemismoffinanceLiXinheTheresearchparadigmoftraditionalfinanceisbasedonthereasonableselectionparadigm.Becausesystemisntin2cludedbyfinancialanalysisframework,therearesomewhatdefectsinbothfinancialtheorystructureandfinancialprac2tice.Thesocialandsystematicattributeoffinancialbehaviorofenterprisedeterminesthepossibilityoftheoreticalcou2plingbetweennewsystemismandfinance.Toresolvethetheoreticalandpracticaldefectsoftraditionalfinance,needstochangefromtechnique2orientedfinancetosystem-orientedfinance.ResearchingontheFinancialQuestionsinBusinessGrowthAnalysisoftheRelationsofFloatingNewStocksandEnterprisesDebtGuoZeguangGuoBingEnterprisesarethebasicunitsinmodernmicroeconomy.Thedevelopingconditionandstandardinthenationaleconomyaredeterminedbythegrowthofenterprises,andthecontiunousandsteadyincreaseinenterprisesisthebasicpremiseinthedevelopmentofthewholesocietyandeconomy.ResearchingontheFinancialQuestionsinBusinessGrowthstart2edwithsomefinancialpurposes.ItanalizedsomekeyfactorstocontrolBusinessgrowthbyfinancialbasicbalances.Itstudiedtherelationsoffloatingnewstocks,enterprisesdebt.Itputforwardsomefinancialmeasuresinmanagementtorealizebusinessincreases.CriterionsofAchievement&CompensationContractofManagersPanXiuliStimulatingcompensationcontractofmanagersisveryimportantinmoderncompany,thispaperdiscussesaboutthechoiceofcriterionsofmanagersachievement.Ascriterions,netincomeandsharepriceareincommonuse,sothispaperdiscussesabouttheadvantagesanddisadvantagesofthesetwocriterions,anddiscussesabouthowshoulddifferentcompanieschosethesoundcriterions.ThispaperdiscussesaboutpracticalsituationinChina,andgivesadvicesonthisproblemintheend.©1995-2004TsinghuaTongfangOpticalDiscCo.,Ltd.Allrightsreserved.