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fssjyb · 2024年04月13日

A和C选项

NO.PZ2022120701000048

问题如下:

Which executive remuneration concern is most likely expressed by board members?

选项:

A.Across the market as a whole, executive pay rates continue to ratchet up.

B.Executive pay does not reflect the market performance of the shares.

C.The executive pay structure does not incentivize executives to deliver maximum value.

解释:

Misunderstandings between board members and investors over executive pay have led to a lack of trust between the two parties, with board members concerned that their remuneration proposals could be voted down by investors This situation may lead to the negotiation of a compromised executive pay structure that does not necessarily enable the executives to unlock the full potential of the company but is likely to receive voting support from investors Broader concerns about market rates for executive pay and potential disconnects between executive pay and market performance are more often expressed by investors who are not on the board

a和c选项说的是股东的concern吗?但是基本上董事是股东委派的啊,难道股东委派董事不代表股东的利益吗?

1 个答案

Tina_品职助教 · 2024年04月15日

嗨,爱思考的PZer你好:


在企业治理中,确实,董事会的成员通常是代表股东的利益,他们的任务之一就是监督高管团队并确保高管的激励机制符合股东的长期利益。然而,董事会成员和股东之间可能存在不同的关注点:

董事会更关注公司的长期发展,也注重平衡各种因素,包括如何设计能够得到大多数股东支持的薪酬结构。董事会的工作是确保高管薪酬计划既公平合理,又能激励高管推动公司的长期增长和成功。如果薪酬结构无法激励高管为股东创造最大价值,那么董事会可能会担忧这将影响公司的表现和股东的回报。这个是董事会更关注的公司发展和高管选择问题。

但A相对来说更加短时,可能会更受一些短期利益投资者(股东)的关心。而且这里面也存在代理人问题,毕竟股东是真正出钱的人,所以更关心高管的薪酬支付绝对值的高低。


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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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