NO.PZ2023112701000034
问题如下:
A company’s compensation committee seeking to discourage excessive risk-taking by managers is most likely to design an incentive compensation plan that:
选项:
A.allows directors and managers to have greater discretion over their remuneration. B.includes a variable component comprising stock options contingent on near-term stock performance. C.grants shares, rather than options, that vest over several years and are subject to minimum holding requirements.解释:
Correct Answer: C
C is correct. Granting shares, rather than options, that vest over several years and must be held discourages “short-termism” or excessive risk-taking by managers.
A is incorrect. By allowing shareholders to express their views on remuneration matters, companies can limit the discretion of directors and managers in granting themselves excessive (or inadequate) remuneration, thus not allowing managers to have greater discretion over their own pay.
B is incorrect, because a variable component comprising stock options contingent on near-term stock performance may encourage excessive risk-taking by managers. Stock-based remuneration does not serve its purpose if managers can improve their personal gains at the expense of the company while limiting their exposure to weak stock performance.
1,这个问题的意思是不是: 薪酬委员会采取什么措施能减少管理层excessive risking seeking 对吗?
2,选项b, 为什么错了呢?
这里要区分stock grant 和 stock option grant的区别, stock grant 应该是会更容易导致risk seeking 才对呀。 然而stock option grant应该是可能会risk 厌恶或者risk seeking呀。