文献类型：期刊文献

英文题名：What Drives Managerial Perks? An Empirical Test of Competing Theoretical Perspectives

作者：Zhang, Hua[1];Song, Yuanyang[2];Ding, Yuan[1]

机构：[1]China Europe Int Business Sch, Shanghai, Peoples R China;[2]E China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China

年份：2015

卷号：132

期号：2

起止页码：259

外文期刊名：JOURNAL OF BUSINESS ETHICS

收录：;WOS:【SSCI(收录号:WOS:000367460100002)】；

基金：We thank Gary Monroe (Editor), an anonymous reviewer, Yan (Anthea) Zhang and Florian Wettstein for their insightful comments and suggestions. The authors also appreciate the helpful advice received from participants in the Second EISAM Workshop on Business Ethics (Madrid, November 2013). This research project was a Highly Commended runner up to the 2012 Emerald/IACMR Chinese Management Research Fund Award. Yuan Ding and Hua Zhang acknowledge financial support from the CEIBS Research Fund. Yuanyang Song thanks the National Natural Science Foundation of China (71302040), the Ministry of Education of Humanities and Social Science Project (13YJC630138), and the Shanghai Planning Office of Philosophy and Social Science (2013EGL001) for financial support. The authors also thank Donghua Chen for his generous support in data collection and Ann Gallon for her much appreciated editorial help. The authors warmly acknowledge the helpful advice from Yan (Anthea) Zhang.

语种：英文

外文关键词：Perks; Ethics; Agency theory; Incentive; China

摘要：What drives managerial perks? The commonly accepted view of perks suggests that they are a misuse of firm resources for managers' private benefit (cost view), and thus perk consumption is unethical. However, an alternative view argues that perks can motivate managers to work hard and thus add to the value of the firm (incentive view): from this perspective, perk consumption is an ethical form of behavior. The fundamental difference between the two positions has critical implications for practice, and this article tests these competing views to determine the circumstances in which one view dominates the other. Using hand-collected data on perks in Chinese-listed companies, we find strong empirical support for the incentive view, which is more likely to be held in firms with moderate ownership concentration. This article not only contributes to the literature on business ethics, but also has critical implications for managerial incentive practices in emerging economies.