我覺得這貼放在英語版面保證半小時(shí)內(nèi)會(huì)有很多熱心人給你翻譯~我翻得有點(diǎn)不太順,我對(duì)股票授權(quán)和業(yè)績(jī)這方面的英語不是很熟悉.希望能幫上你的忙吧!
Explicit Relative Performance Evaluation in Performance-Vested Equity Grants
績(jī)效授予股權(quán)中的外在相對(duì)業(yè)績(jī)?cè)u(píng)估
Abstract:
概要：
Using data from FTSE 350 firms,we examine the factors influencing the explicit relative performance evaluation (RPE) conditions in performance-vested equity grants.We provide evidence on the use of RPE either to improve incentives by removing common risk or by linking greater vesting percentages to higher relative performance rankings.We also investigate whether RPE is used to opportunistically increase vesting and/or placate external parties calling for its use.
根據(jù)英國(guó)富時(shí)350指數(shù)成分股公司的數(shù)據(jù),我們對(duì)績(jī)效授予股權(quán)中,影響外在相對(duì)業(yè)績(jī)?cè)u(píng)估（RPE）的因素作了調(diào)查和研究.運(yùn)用相對(duì)業(yè)績(jī)?cè)u(píng)估,我們研究證據(jù)表明,通過消除風(fēng)險(xiǎn)或者將授權(quán)百分比和相關(guān)業(yè)績(jī)排名掛鉤,排名越高,百分比越高,這兩個(gè)途徑可以刺激鼓勵(lì)員工.我們也調(diào)查了相對(duì)業(yè)績(jī)?cè)u(píng)估是否僅僅是偶然的延長(zhǎng)了授權(quán)期和/抑或只是安撫外部各方.
We find that specific RPE conditions vary depending upon whether the plan is used to remove common risk or to promote superior relative performance.However,we find no evidence that greater external monitoring by institutional investors or others is associated with specific RPE performance conditions.The relative performance conditions are binding in most RPE plans,with nearly two-thirds of the grants vesting only partially or not vesting at all.However,we find no evidence that vesting percentages are higher in RPE plans than in non-RPE plans,and no evidence that RPE is used opportunistically to increase vesting and compensation.
我們發(fā)現(xiàn)特定相關(guān)業(yè)績(jī)?cè)u(píng)估的變化取決于這個(gè)計(jì)劃是用于消除風(fēng)險(xiǎn)還是促進(jìn)高層相關(guān)業(yè)績(jī).但并無證據(jù)證明,機(jī)構(gòu)投資者外部監(jiān)督和特定業(yè)績(jī)相關(guān)評(píng)估有關(guān).相關(guān)業(yè)績(jī)和多數(shù)的RPE計(jì)劃是相互綁定的,有近三分之二授予部分期權(quán)或者完全不授予期權(quán).但并無證據(jù)表明RPE計(jì)劃中的授予百分比比非PRE計(jì)劃中的高,亦無證據(jù)表明PRE偶然會(huì)延長(zhǎng)授予期和增加賠償.
（有2個(gè)地方不確定是不是這么翻譯：
有近三分之二授予部分期權(quán)或者完全不授予期權(quán)
PRE偶然會(huì)延長(zhǎng)授予期和增加賠償）
Keywords:Executive compensation,relative performance evaluation,equity grants
關(guān)鍵詞：行政賠償,相關(guān)業(yè)績(jī)?cè)u(píng)估,股權(quán)贈(zèng)予