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fssjyb · 2024年04月13日

第四章一致性和代理问题,老师您好,教材中有一句意思没理解

NO.PZ2022082302000001

问题如下:

What is ESG investing?

选项:

A.an approach to managing companies that explicitly acknowledges the relevance of environmental, social and governance factors in corporate decision-making.

B.an approach to managing assets where investors explicitly acknowledge the relevance of environmental, social and economic factors in investment decision-making.

C.an approach to managing assets where investors explicitly acknowledge the relevance of environmental, social and governance factors in their investment decisions.

D.an approach to managing assets where investors explicitly acknowledge the relevance of environmental, social and economic factors in corporate engagement.

解释:

中文解析:

本题考察的是ESG的定义。

ESG投资是一种资产管理(managing asset)方法,投资者在其投资决策( investment decisions)中明确纳入环境、社会和治理(ESG)因素,并考虑到投资组合(investment portfolio)的长期回报( long-term return)。

注意上面的关键词:资产管理(managing asset);投资决策( investment decisions);投资组合(investment portfolio);长期回报( long-term return)。

完整的定义为:ESG investing is an approach to managingassets where investors explicitly incorporate environmental, social andgovernance (ESG) factors in their investment decisions with the long-termreturn of an investment portfolio in mind.

老师, 为什么说高管薪酬一直在解决代理问题呢?这句好啥意思,没太理解

1 个答案

净净_品职助教 · 2024年04月13日

嗨,努力学习的PZer你好:


所谓代理问题,是指在公司治理中经理人(代理人)与股东(委托人)之间可能存在的利益冲突

由于经理人管理着公司的日常运营,而股东通常不直接参与,这就产生了一个潜在的问题:经理人可能会采取符合自己利益而非股东最佳利益的行动。

高管薪酬结构的设计旨在解决这一代理问题。通过将高管薪酬与公司的长期目标和绩效挂钩,比如说通过长期激励计划、股权奖励和关键绩效指标(KPIs)等,可以促使高管的行为与股东利益一致。如果高管知道自己的收入和公司业绩紧密相关,他们就更有可能采取有利于股东的长期战略决策。

简而言之,高管薪酬结构是为了鼓励高管们做出符合长期股东利益的决策,以减少或消除代理问题。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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