Shan Liang
ABSTRACT
Management, as the leader of a company, has been a scarce resource for company management. Against this background, equity incentive, which has been introduced into China out of its great success and increasing maturity in western corporate governance, plays a key role in company competition. It can influence not only the management's decisions but also firm performance so that the managerial ability and the firm performance may be moderated. Focusing on management, the strategy maker, this paper adopts multiple regression analysis to explore the relationship between managerial ability and firm performance of listed tourism companies, as well as the moderating effect of equity incentive on this relationship. Sample data are collected from 22 A-share listed tourism companies in Shanghai and Shenzhen from 2013 to 2021. The conclusion is that equity incentive has a positive moderating effect on the relationship between managerial ability and firm performance of listed tourism companies.
- Yang Yong. 2021. Research on Optimization of Development Strategy of KST Tourism Corporation. MA Thesis, Chongqing Technology and Business University.Google Scholar
- Diao Yunting. 2021. Research on the Impact of Executive Incentives on the Performance of China's Listed Tourism Companies. MA Thesis, Southwest University.Google Scholar
- Xu Chao. 2018. Interlocking Directorates Network in Firm Performance by Tourism-related Listed Companies. MA Thesis, Huaqiao University.Google Scholar
- Li Yin. 2021. Managerial Ability, Executive Incentive and Firm Performance. MA Thesis, Yunnan University of Finance and Economics.Google Scholar
- Tang Fan. 2021. Managerial Ability, R&D Investment and Firm Performance: Dual Perspectives Based on Internal and External Supervision. MA Thesis, Jiangnan University.Google Scholar
- Peter Demerjian, Baruch Lev, and Sarah McVay. 2013. Quantifying managerial ability: A new measure and validity tests. Operations Research: Management science, 53(3).Google Scholar
- Afzalur Rahim and Thomas V. Bonoma. 1979. Managing organizational conflict: A model for diagnosis and intervention. Psychological Reports, 44(3_suppl).Google Scholar
- Jinhoo Hwang, Kyung-il Lee, Raeik Jang, and Seongwoo Jeon. 2018. A study on the introduction of total natural resources management system using the environmental conservation value assessment map. In Proceedings of the ISPRS Technical Commission III Midterm Symposium on “Developments, Technologies and Applications in Remote Sensing”, 841-846.Google Scholar
- He Huiqin. 2018. Corporate governance, managers’ ability and enterprise performance. Communication of Finance and Accounting, (15): 52-55.Google Scholar
- Deng Guizhi. 2012. An empirical study of managers’ impression management behavior. In Proceedings of 2012 International Conference on Social Science and Education (ICSSE 2012) Volume 10., 423-428.Google Scholar
- Pan Hongjing. 2016. Financial characteristics, agency cost and equity incentive level of growth enterprise market. In Proceedings of Decision Forum - Academic Conference on Regional Development and Public Policy Research Volume 2., 41-43+45.Google Scholar
- Nan Jinwei. 2018. Research on equity incentive and corporate performance of GEM listed companies. Tax Paying, (16): 198.Google Scholar
- Stéphane Andrieux and Thouraya Nouri Baranger. 2012. Emerging crack front identification from tangential surface displacements. Comptes rendus - Mécanique, 340(8).Google Scholar
- Zou Jing. 2016. Does equity incentive policy improve company performance? Empirical evidence from Chinese state-owned listed companies. Communication of Finance and Accounting, (06): 33-36.Google Scholar
- Zhang Jing and Ding Yizhen. 2021. Research on the impact of executive incentives on enterprise performance – Based on empirical data of listed companies on small and medium-sized boards. Jiangsu Commercial Forum, (02): 117-119.Google Scholar
- Zhang Jing and Li Pei. 2021. Research on the influence of stock incentives on enterprise financial performance. Trade Fair Economy, (10): 108-111.Google Scholar
- Yin Meiqun, Sheng Lei, and Li Wenbo. 2018. Executive incentive, innovation input and corporate performance: an empirical study based on endogeneity and industry categories. Nankai Business Review, 21(01): 109-117.Google Scholar
- Hao Yin, Yu Bing, and Li Xueyi. 2022. Combination of industry and finance, governance embedding, and enterprise performance: empirical evidence from entity enterprises holding financial institutions. Friends of Accounting, (04): 45-54.Google Scholar
- Ma, X., Zhang, Z., Han, Y., Yue, X.-G. Sustainable policy dynamics-A study on the recent "bust" of foreign residential real estate investment in Sydney (2019) Sustainability (Switzerland), 11 (20), art. no. 5856. DOI: 10.3390/su11205856Google Scholar
- Han, Y., Shao, X.-F., Cui, X., Yue, X.-G., Bwalya, K.J., Manta, O. Assessing investor belief: An analysis of trading for sustainable growth of stock markets (2019) Sustainability (Switzerland), 11 (20), art. no. 5600. DOI: 10.3390/su11205600Google Scholar
- Zhang, J., Lu, C., Wang, J., Wang, L., Yue, X.-G. Concrete cracks detection based on FCN with dilated convolution (2019) Applied Sciences (Switzerland), 9 (13), art. no. 2686. DOI: 10.3390/app9132686Google Scholar
- He, H., Li, S., Hu, L., Duarte, N., Manta, O., Yue, X.-G. Risk factor identification of sustainable guarantee network based on logistic regression algorithm (2019) Sustainability (Switzerland), 11 (13), art. no. 3525. DOI: 10.3390/su11133525Google Scholar
- Luan, Y., Li, Y., Yue, X., Cao, Y., Xiang, F., Mao, D., Xiong, Z. Metabonomics of mice intestine in Codonopsis foetens induced apoptosis of intestine cancer cells (2019) Saudi Journal of Biological Sciences, 26 (5), pp. 1003-1010. DOI: 10.1016/j.sjbs.2018.11.010Google Scholar
- Zheng, S.-Y., Jiang, S.-P., Yue, X.-G., Pu, R., Li, B.-Q. Application research of an innovative online education model in big data environment (2019) International Journal of Emerging Technologies in Learning, 14 (8), pp. 125-138. DOI: 10.3991/ijet.v14i08.10404Google Scholar
Recommendations
Public R&D Subsidies, Firm Innovation and Firm Performance - Empirical Evidence from Listed Companies in China's SME Board
ICEE '10: Proceedings of the 2010 International Conference on E-Business and E-GovernmentOne of the features of R&D investment is that the output has the properties of public goods, and its private rate of return to be lower than its social rate of return. Therefore, public R&D subsidies play an important role in the performance of SMEs. In ...
Managerial Incentives and IT Strategic Posture
This study examines how managerial incentives may drive firms to adopt a proactive strategic posture to implement more information technology IT than competitors. We consider both performance incentives that motivate managers to enhance firm returns and ...
Do Equity-Based Incentives Improve the Corporate Performance? The Emprical Evidence from the China Listed Companies after Equity Division Reform
ICICTA '10: Proceedings of the 2010 International Conference on Intelligent Computation Technology and Automation - Volume 02in this paper, I study the relationship between performance of companies and the levels of executive equity-based incentive and find there’s a significantly positive relationship between performance of companies and the levels of restricted stock ...
Comments