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【知识点】Problems associated with reward schemes管理层奖励计划的缺点

Problems associated with reward schemes

(a) A serious problem that can arise is that performance-related pay and performance evaluation systems can encourage dysfunctional behavior. Many investigations have noted the tendency of managers to pad their budgets either in anticipation of cuts by superiors or to make subsequent variances more favorable.

(b) Perhaps of even more concern are the numerous examples of managers making decisions that are contrary to the wider purposes of the organization.

(c) Schemes designed to ensure long-term achievements may not motivate since effort and reward are too distant in time from each other.

(d) It is questionable whether any performance measures or set of measures can provide a comprehensive assessment of what a single person achieves for an organization. There will always be a lack of goal congruence, employees being committed to what is measured, rather than the objectives of the organization.

(e) Self-interested performance may be encouraged at the expense of teamwork.

(f) High levels of output may be achieved at the expense of quality.

(g) In order to make bonuses more accessible, standards and targets may have to be lowered, with knock-on effects on quality

(h) They undervalue intrinsic rewards given that they promote extrinsic rewards.

【知识点】Stock exchange listing regulations 证券交易上市规则

Stock exchange listing regulations

A stock exchange employs rules and regulations to ensure that the stock market operates fairly and efficiently for all parties involved.

The stock exchange operates as two different markets.

1) It is a market for issuers who wish to raise equity capital by offering shares for sale to investors. Such companies are listed on the stock exchange.

2) It is also a market for investors who can buy and sell shares at any time, without directly affecting the entities in which they are buying the shares.

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