Contracts taking this form create a

Contracts taking this form create an incentive for the manager to increase dividend payments
when the upper limit is binding, thereby counteracting the over-retention problem noted in Smith
and Watts (1983).
5Dividend equivalents are claims which vary with the dividend payments on common stock.
6The theory does not explain the form of bonus contracts or why executives are awarded
earnings-based bonuses. For a discussion of these issues, see Jensen and Meckling (1976),
Holmstrom (1979), Miller and Scholes (1980), Fama (1980), Hite and Long (1980), Holmstrom
(1982), Smith and Watts (1983), Larcker (1983), and Demski, Patell and Wolfson (1984).

ผลลัพธ์ (อังกฤษ) 2:

Contracts taking this form create an incentive for the Manager to increase dividend Payments
when the Upper Limit is binding, thereby counteracting the over-retention Problem noted in Smith
and Watts (1,983th).
5Dividend equivalents are Claims which Vary with the dividend Payments on common Stock. .
6The Theory does not Explain the form of Bonus Awarded contracts or why executives are
earnings-based bonuses. For a discussion of these issues, See Jensen and Meckling (one thousand nine hundred and seventy-six),
Holmstrom (the 1979th), Miller and Scholes (the 1,980th), Fama (one thousand nine hundred eighty), Hite and Long (1,980), Holmstrom
(one thousand nine hundred eighty-two), Smith and Watts (1 983). , Larcker (1983), and Demski, Patell and Wolfson (1984).