Family ownership as a moderator between R&D investments and CEO compensation

NCUIR > School of Management at National Central University > Department of Business Administration > journal & Dissertation > Item 987654321/102952

Please use this identifier to cite or link to this item: https://ir.lib.ncu.edu.tw/handle/987654321/102952

Title:	Family ownership as a moderator between R&D investments and CEO compensation
Authors:	曹壽民;Tsao, Shou-Min;Lin, Che-Hung;Chen, Vincent Y.S.
Contributors:	管理學院企業管理學系
Keywords:	CEO compensation;Chief executive officers;Companies;Compensation;Executive compensation;Families & family life;Family firms;Family owned businesses;Family structure;Investment efficiency;Investments;Myopic R&D investment behavior;Organizational behavior;Organizational behaviour;Ownership;R&D;R&D investment;Research & development;Research and development;Studies
Date:	2015-01-01
Issue Date:	2026-04-23 11:20:56 (UTC+8)
Publisher:	Elsevier Inc.;New York: Elsevier Inc
Abstract:	摘要： Firms can curb opportunistic managerial R&D investing behavior by increasing the sensitivity of CEO compensation to R&D investment. Using a sample of firms in Taiwan's R&D-intensive industries, this study examines whether family ownership moderates the sensitivity of CEO compensation to R&D investment. The results show that the sensitivity of CEO compensation to R&D investment is higher for family firms than for nonfamily firms, and that CEO compensation in family firms is based more heavily on the firm's level of R&D investment than on performance. In addition, R&D investment by family firms leads to greater investment efficiency, firm value, and growth rates than similar investment by nonfamily firms. These findings suggest that, in family firms, a compensation structure based on R&D investment enhances firm value. 出版者： New York: Elsevier Inc 出版日期： 2015-03-01 出處： Journal of business research, 2015-03, Vol.68 (3), p.599-606 資源來源： Elsevier ScienceDirect Journals Complete 版權： 2014 Elsevier Inc. 版權： Copyright Elsevier Sequoia S.A. Mar 2015 識別號： ISSN: 0148-2963 識別號： EISSN: 1873-7978 識別號： DOI: 10.1016/j.jbusres.2014.09.001
Appears in Collections:	[Department of Business Administration ] journal & Dissertation

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