Equity incentive system in Alibaba, Tencent and Baidu

Detalhes bibliográficos
Autor(a) principal: Panpan, Zhang
Data de Publicação: 2017
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/14844
Resumo: More and more Chinese companies are applying equity incentive plans nowadays. However, the effectiveness of these equity incentive systems is unclear as some research shows a positive relationship between the equity incentive system and firm performance whereas others show a negative relationship and still others found that there is no relationship at all. In this dissertation, we analyzed the equity incentive system in three Chinese high tech companies: Baidu, Alibaba and Tencent, the so called BAT. The research used secondary data from the latest 5 to 10 year Annual Financial Statements of these three companies and applied Spearman’s correlation coefficient to calculate the relationship between their equity incentive system and performance. Results showed a higher and positive relationship in the case of Baidu and Tencent rather than in Alibaba. Finally possible factors that may influence the effectiveness of the equity incentive system were discussed. This study and the results obtained may provide some guidance and suggestions not only for the subject companies but also to others and assist them in selecting a suitable type of equity incentive plan.
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spelling Equity incentive system in Alibaba, Tencent and BaiduIncentivos organizacionaisDesempenho organizacionalEmpresa internacionalEquity incentiveBATFirm performanceSpearman’s correlation coefficientIncentivos por açõesDesempenho organizacionalcoeficiente de correlação de SpearmanMore and more Chinese companies are applying equity incentive plans nowadays. However, the effectiveness of these equity incentive systems is unclear as some research shows a positive relationship between the equity incentive system and firm performance whereas others show a negative relationship and still others found that there is no relationship at all. In this dissertation, we analyzed the equity incentive system in three Chinese high tech companies: Baidu, Alibaba and Tencent, the so called BAT. The research used secondary data from the latest 5 to 10 year Annual Financial Statements of these three companies and applied Spearman’s correlation coefficient to calculate the relationship between their equity incentive system and performance. Results showed a higher and positive relationship in the case of Baidu and Tencent rather than in Alibaba. Finally possible factors that may influence the effectiveness of the equity incentive system were discussed. This study and the results obtained may provide some guidance and suggestions not only for the subject companies but also to others and assist them in selecting a suitable type of equity incentive plan.Cada vez mais empresas chinesas aplicam hoje em dia programas de incentivos baseados em ações. No entanto, a eficácia destes sistemas continua pouco clara. Algumas investigações evidenciam uma correlação positiva entre o sistema de incentivos baseado em ações e o desempenho da empresa, enquanto que outras mostram uma correlação negativa e, outras ainda não evidenciam nenhuma correlação. Nesta investigação, foi analisado o sistema de incentivos baseado em ações de três empresas chinesas de alta tecnologia, as designadas BAT: Baidu, Alibaba e Tencent. A investigação baseou-se em dados secundários extraídos dos Relatórios Financeiros Anuais destas três empresas e aplicou o coeficiente de correlação de Spearman para calcular o tipo de correlação existente entre os seus planos de incentivos e o desempenho. Os resultados revelaram que a correlação é melhor nas empresas Baidu e Tencent e não tão positiva na Alibaba. Por fim foram discutidos os fatores que podem influenciar a eficácia do sistema. Os resultados poderão fornecer alguma orientação e sugestões não só para as empresas estudadas mas para outras que pretendam adoptar planos de incentivos por ações.2018-01-04T14:08:47Z2017-01-01T00:00:00Z20172017-07info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/14844TID:201739496engPanpan, Zhanginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:45:54Zoai:repositorio.iscte-iul.pt:10071/14844Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:22:01.688780Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Equity incentive system in Alibaba, Tencent and Baidu
title Equity incentive system in Alibaba, Tencent and Baidu
spellingShingle Equity incentive system in Alibaba, Tencent and Baidu
Panpan, Zhang
Incentivos organizacionais
Desempenho organizacional
Empresa internacional
Equity incentive
BAT
Firm performance
Spearman’s correlation coefficient
Incentivos por ações
Desempenho organizacional
coeficiente de correlação de Spearman
title_short Equity incentive system in Alibaba, Tencent and Baidu
title_full Equity incentive system in Alibaba, Tencent and Baidu
title_fullStr Equity incentive system in Alibaba, Tencent and Baidu
title_full_unstemmed Equity incentive system in Alibaba, Tencent and Baidu
title_sort Equity incentive system in Alibaba, Tencent and Baidu
author Panpan, Zhang
author_facet Panpan, Zhang
author_role author
dc.contributor.author.fl_str_mv Panpan, Zhang
dc.subject.por.fl_str_mv Incentivos organizacionais
Desempenho organizacional
Empresa internacional
Equity incentive
BAT
Firm performance
Spearman’s correlation coefficient
Incentivos por ações
Desempenho organizacional
coeficiente de correlação de Spearman
topic Incentivos organizacionais
Desempenho organizacional
Empresa internacional
Equity incentive
BAT
Firm performance
Spearman’s correlation coefficient
Incentivos por ações
Desempenho organizacional
coeficiente de correlação de Spearman
description More and more Chinese companies are applying equity incentive plans nowadays. However, the effectiveness of these equity incentive systems is unclear as some research shows a positive relationship between the equity incentive system and firm performance whereas others show a negative relationship and still others found that there is no relationship at all. In this dissertation, we analyzed the equity incentive system in three Chinese high tech companies: Baidu, Alibaba and Tencent, the so called BAT. The research used secondary data from the latest 5 to 10 year Annual Financial Statements of these three companies and applied Spearman’s correlation coefficient to calculate the relationship between their equity incentive system and performance. Results showed a higher and positive relationship in the case of Baidu and Tencent rather than in Alibaba. Finally possible factors that may influence the effectiveness of the equity incentive system were discussed. This study and the results obtained may provide some guidance and suggestions not only for the subject companies but also to others and assist them in selecting a suitable type of equity incentive plan.
publishDate 2017
dc.date.none.fl_str_mv 2017-01-01T00:00:00Z
2017
2017-07
2018-01-04T14:08:47Z
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dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/14844
TID:201739496
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identifier_str_mv TID:201739496
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