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By using game theory and making an equilibrium analysis, the effect of incentive and supervision in overcoming the shortcomings of agent is analyzed. The paper analyzed how to make incentive and supervision mechanism more effective. Taking executive stock options as an example, as a long-term equity incentive way, the paper analyzes how to make the rational principal and agent achieve Nash equilibrium...
Independent board directors have a compelling obligation for listed companies' illegal activities, and their performance has a direct effect on the listed companies' illegal activities. The incentives to independent directors are the main influencing factors in their responsibility fulfillment. From the perspective of independent directors, this paper studies the correlation between the allowance-incentives...
This study investigates how government incentive policy stimulates firms' innovation performance, and then how firms adapt and co-evolve with the stimulation to achieve legitimacy and financial benefit simultaneously. By examining 54 Chinese High-Tech industrial parks in the period of 2002-2008 and using hierarchical linear model as our analysis method, our results suggest that government incentive...
Communication industry is the basis of national economic development in China. With the economic development and the improvement of information, communication consumptions are increasing. As competitive as it is in the current situation of the communication industry, customer loyalty management becomes the kernel issue for the operators. Building customer loyalty through the driver model, analyzes...
Till now, much research has been done on the immediate impact of human resource on technological innovation, while neglecting the role of intermediary variables. The influence path of human resource on technological innovation is not clear yet. Therefore, it is very important that we study the influence path of human resource on enterprise technological innovation. The paper uses 176 samples derived...
In the construction projects in China, the design fee is fixed and the designer's positivity is restricted by this mechanism. Many scholars proposed that incentive mechanism should been introduced into bargain. That is to say, designer can get some percent profit according to their contribution. But in fact this kind of mechanism maybe causes such problem as designer take a risk in the hope of speculation...
Technological innovation is very important to enhance enterprises' core competency and competition advantage, but enterprises' enthusiasm is not high for it, facing many risks. So it is necesssary for the government to draw up incentive measures to encourage enterprises' technological innovation. This paper tries to set up the game model of enterprises' motive power for technological innovation and...
In the field of construction, asymmetry information between owners and contractors leads to a non-cooperative relationship between them for contractors reaping their own economic profits at the expense of owners, nothing but the reasonable and effective incentive mechanism to the contractor can establish a basis on which their partnership and jointly promote success of a project. This paper built...
In modern enterprise, project team has become a much more effective form for its flexible, problem-oriented and task-oriented. Knowledge sharing among teams plays a significant role in knowledge management of enterprise. Based on principal-agent theory, this paper explores the benefit game between enterprise and project team under information asymmetry condition, introduces both knowledge value and...
This paper formulates a principal-agent model while marketing personnel are engaged in the official marketing duty and the informal technological innovation based on slack resources, and obtains the optimal incentive contracts for marketing personnel's technological innovation through the analysis of the model. In order to promote marketing staff to do more innovation after the completion of the official...
We assumed the managers are risk neutral, and use sensitivity to pay-performance to represent the effect on equity-based incentive. Then, we use the principal-agency model to compare the effect on restricted stock incentive with the effect on stock option incentive. We got the conclusion as following, the effect on restricted stock incentive is more than that on stock option incentive when grant price...
By applying principle-agent and reputation theory, combining with the multi-task principle-agent model and agent market reputation model, construction contractor incentive model of construction project considering the reputation effect was established, and the validity of the market reputation incentive to the contractor was analyzed. We obtained: Firstly, reputation incentive can partly substitute...
Based on the characteristics of IT firm, the principal-agent model between the owner and manager of IT firm is established by use of information economics theory, the gross benefit of the owner or manager is compared in two situations of symmetric information and asymmetric information, and the relations are studied among risk aversion, stock incentive, effort level of the manager, contract time and...
Based on analyzing the current employment incentive system of the university of China, this paper develops a practical incentive compatibility model of employment work. This model solves the defect of employment incentive system of some universities of China. The defect is that because of information asymmetry, the employment rate given by university manager is not incentive compatible probably, and...
By building a model of internal capital markets, we draw conclusion that allocation resources in divisions of diversified firms depends not only on output efficiency of division but also on stimulation level of division managers. Therefore diversified firms suboptimally invest by subsidizing poor performing business segments with resources from profitable business segments, which bring resources misallocation...
Guanxi is prevailing in China and East Asia and has received widespread attention. We take Guanxi as an exogenous implicit contract and employ a standard principal-agent contract to deal with the interest conflicts based on explicit project performance to build a principal-agent model where the principal (the owner or sponsor) chooses a Guanxi action and an endogenous contract based on explicit (synthesized)...
Enterprise system is usually regarded as a black box. In many studies, because of complexity, the mechanism of inner relation, input-output process, and environment factorspsila influence are always neglected. In this paper, a game model is made to analyze the relation between team cooperation and incentive structure. Other aspects are also analyzed in the model such as optimum incentive structure...
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