JOURNAL OF BEIJING UNIVERSITY OF AERONAUTICS AND A ›› 2008, Vol. 21 ›› Issue (2): 13-16.

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A Design of Managers' Incentive Mechanism Based on the Theory of Stakeholders

CAO Hui, XU Cong-wei, WANG Xiao-li   

  1. School of Economics and Management, Beijing University of Aeronautics and Astronautics, Beijing 100083, China
  • Received:2007-03-22 Online:2008-06-25 Published:2010-05-13

Abstract:

The design of managers' incentive mechanism based on the theory of principle-ag ent is liable to make managers protect shareholders' interests at the cost of ot her stakeholders' interests. The article illustrates the importance and essence of stakeholder-based incentive mechanism of managers theoretically. Furthermore , the article establishes a stakeholder-based evaluation index of company perfo rmance, and then designs a managers' incentive mechanism model to benefit Chines e companies.

Key words: stakeholders, managers, incentive mechanism, index of protection, index of parti cipant

CLC Number: