高階經理人獎酬結構與企業永續發展之關聯

Abstract

本研究探討美國企業受評定環境保護、社會責任、公司治理三變數總分數與各自分數與高階經理人獎酬組成之關聯，其中之四個關鍵組成部分：短期獎酬－薪資與獎金、中期獎酬－股票、長期獎酬－選擇權以及長期獎酬－股票。實證結果顯示，本研究判斷之短、中、長期之獎酬比重差異對企業未來之ESG有顯著之解釋效果。

This study explores the association between total ESG scores as well as the respective Environmental, Social, and Governance scores of U.S. companies assessed and the compensation structure of senior managers in their companies. This study identifies four compensation components for senior managers, short-term compensation-salary and bonus, medium-term compensation-stocks, long-term rewards-options, and long-term rewards-shares. Empirical results show that the composition namely, the structure of short, medium, and long-term rewards has a significant explanatory power on ESG.