摘要： The choice of whether to expense broad‐based stock incentives has been a highly controversial debate in both academic research and practice circles. We provide insightful findings to reconcile certain debates regarding the effectiveness of non‐expensed, broad‐based stock incentives. Using a unique longitudinal dataset from Taiwanese high‐tech firms over the 1997–2008 period, our results indicate that non‐expensed employee stock bonus incentives exerted positive effects on short‐term organizational value added creation. The dilution effects of broad‐based stock incentives in Taiwan, however, exerted a negative influence on profitability and eroded share return. The negative effects were even more severe in the following year, and overexploitation of employee stock bonus also damaged the long‐term organizational performance of Taiwanese high‐tech firms. This negative aspect of non‐expensed employee stock incentives resulted in more evidence for changing the regulatory context of broad‐based stock incentives in Taiwan. 其他題名： British Journal of Industrial Relations 出版者： London: Blackwell Publishing Ltd 出版日期： 2016-03 出處： British journal of industrial relations, 2016-03, Vol.54 (1), p.30-54 資源來源： EBSCOhost Business Source Premier 版權： John Wiley & Sons Ltd/London School of Economics 2014 版權： Copyright Blackwell Publishing Ltd. Mar 2016 識別號： ISSN: 0007-1080 識別號： ISSN: 1467-8543 識別號： EISSN: 1467-8543 識別號： DOI: 10.1111/bjir.12051 識別號： CODEN: BJIRAV
