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                          代寫美國留學生本科coursework范文:Why the pay of Executives are inapprop

                          時間:2019-02-28 14:27來源:未知 作者:anne 點擊:
                          Why the pay of Executives are inappropriate關于高管薪酬的討論一直是一個有爭議的話題。 高管是企業的管理者,在很大程度上可以從公司的發展中受益。高管薪酬從一家公司到另一家公司各不相同,但
                          Why the pay of Executives are inappropriate關于高管薪酬的討論一直是一個有爭議的話題。
                          高管是企業的管理者,在很大程度上可以從公司的發展中受益。高管薪酬從一家公司到另一家公司各不相同,但基本薪酬原則可能在很大程度上類似。許多人認為高管的薪酬是不適當的,從長遠來看,這可能會損害公司的發展。原因可以解釋如下。
                          There is a heated discussion on the executive pay, which has been a controversial topic for years. 
                          The executives are the managers of the corporations, who can benefit from the development of the company to a great degree. The executive compensation is various from one firm to another, but the basic pay principle may be similar to a large extent. Many people consider the pay of the executives as inappropriate, which can cause damage to the progression of the corporation in the long run. The reasons can be explained a follows. 
                          首先,公司的管理系統總是在不考慮高管績效的情況下獎勵高管獎金(Murphy,1999年)。這一制度不公平,也不會有助于公司的長期快速發展(Samwick,1999年)。當高管表現不佳時,他們也能獲得可觀的薪酬,這對其他普通員工和公司都不公平。當公司無法盈利時,該系統會在正常運營中導致嚴重問題,并最終導致公司破產(Bertrand,2001年)。
                          Firstly, the managing system in a company always rewards the executive bonuses without regarding the performance of them(Murphy, 1999). This system is not fair and will not contribute to the quick development of the firm in the long term(Samwick, 1999). When the executive does not perform themselves well, they can gain considerable pay as well, which is not fair to the other common employees and the corporation. When the company is not profitable, this system can lead to serious problems in the normal operation and may also cause the corporation go to bankruptcyin the end(Bertrand, 2001). 
                          其次,高管的薪酬要比企業領導層底層的員工高很多。例如,在美國,高管和公司最底層員工的薪酬比例已經上升到400比1,這在普通員工中引起了憤怒。此外,這種高比率在其他國家也很普遍(Garvey,2003年)。然而,在越來越多的情況下,高管的業績不能滿足公司的發展,這可以看作是一種不作為(Murphy,1999)。近年來,許多大公司都出現了這個問題,這也不會給世界經濟帶來好處。這是對高管薪酬不當的另一種解釋。
                          Secondly, the pay of the executives is quite higher than the employees at the bottom of the corporate leader. For instance, the ratio between the pay of the executives and those at the bottom of the firm ladder has increased to 400-to-1 in the United States, which has caused anger among the common employees. Moreover, this type of high ratio is prevalent in other countries as well(Garvey, 2003). However, in more and more cases, the performance of the executives can not meet the development of the corporation, which can be seen as a kind of nonfeasance(Murphy, 1999). This issue has been represented in many large companies in recent years, which will not benefit the world economy as well. This is another one explanation on the inappropriateof the executive pay.
                          第三,關注激勵結構,激勵結構可以在短時間內促進高管完成目標。當短期目標實現時,高管的獎金會很高,或者薪酬會相對較低(Samwick,1999年)。這樣,高管們將不遺余力地追求目標,但這種結構也可能從長遠來看損害公司的利益,如公司的福利、股東的利潤和社會的普遍福利。在大蕭條時期,大多數人開始指責金融業的這種行為。激勵結構可以激勵高管實現目標,但這也不適合公司長遠發展(Girma,2007年)。
                          Thirdly, it is a concern on the incentives structures which can promote the executives to complete the goals during a short period of time. When the short-term goal is realized, the bonuses of the executives will be high, or the compensation will be comparatively lower(Samwick, 1999). In this way, the executives will spare no effort to pursue the aim, but this structure may also harm the company in the long run, such as the well-being of the firms, the shareholders’ profits and the general welfare in the society. Most people begin to blame such behaviors in the financial industry during the Great Recession. The incentives structures may motivate the executives to realize the goals, but this means is also not proper for the development of the company in the long run(Girma, 2007).
                          綜上所述,說明適當的高管薪酬的原因可能是多種多樣的,公司對高管的監管制度也不太明確,不利于公司在世界經濟和各行業日益激烈的競爭中健康、快速的發展,以期繼續為了公司的順利發展,管理者要在公司里表現良好,帶領公司朝著繁榮的方向發展。In conclusion, the reasons for illustrating theinappropriate executive compensation can be diverse, and the companies systems in regulating the executives are not so definite, which is adverse to the sound and quick development of the corporations in theincreasingly fierce completions in the world economy and in various industries.In order to contribute to the smooth development of the company, the executives should behave themselves well in the firm and lead the company to develop in a prosperous direction.
                           
                          Reference
                          Bertrand, M, 2001, Are CEO’s rewarded for luck? The Ones Without Principals Are, Quarterly Journal of Economics, pp.901-932. 
                          Garvey, G, 2003, Incentive Compensation when executives can hedge the market: Evidence of Relative Performance Evaluation in the Cross Section, Journal of Finance, vol. 58, no. 4, pp.1557-1581.
                          Girma, S., 2007, Corporate Governance Reforms and Executive Compensation Determination: Evidence from the UK, The Manchester School, vol. 75, no. 1, pp.65–81.
                          Murphy, K., 1999, Executive Compensation, Handbook of Labor Economics, vol.3. pp.2485-2563. 
                          Samwick, A., 1999, The Other Side if the Trade-off: The Impact of Risk on Executive Compensation, Journal of Political Economy, vol. 107 no. 5, pp.65-104.


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