Strategic Orientations, Incentive Plan Adoptions and Firm Performance : Evidence From Electric Utility Firms  

Oleh:

Rajagopalan, Nandini

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 18 no. 10 (1997), page 761-786.
Topik: FIRM; agency theory; managerial discretion; incentive plans; strategic orientation

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study examnies the performance implications of the fit between strategic orientations and incentive plan characteristics. Research hypotheses are based on a framework that draws upon managerial discretion and agency theories to identity the links between firm strategy, managerial motivation and control, managerial risk - bearing, and incentive plan characteristics. A pooled cross - sectional, time series research design is used to test hypotheses in a sample of 50 electric utility firms. Consistent with theory, results indicate that annual bonus plans that use cash incentives and accounting measures of performance lead to better performance among firms with defender strategic orientations. In contrast, firms with prospector strategic orientations realize performance benefits when they adopt stock - based incentive plans and use market measures to evaluate managerial performance.

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