Results of the logistic regression analysis, which models the
likelihood of LTIP use for those firms adopting LTIPs, are shown in Table 3. The findings strongly support hypothesis
2a, which proposed that CEO influence would be negatively
related to the actual use of LTIPs that had been adopted.
Three of the four indicators of CEO influence (CEO tenure,
combined CEO and chair positions, and appointment of
outsiders) are significantly and negatively associated with the
likelihood of LTIP use during the first two years after
adoption. While CEO influence is thus positively related to
the formal adoption of LTIPs (Table 2), it is negatively related
to the actual use of LTIPs (Table 3).
Results of the logistic regression analysis, which models thelikelihood of LTIP use for those firms adopting LTIPs, are shown in Table 3. The findings strongly support hypothesis2a, which proposed that CEO influence would be negativelyrelated to the actual use of LTIPs that had been adopted.Three of the four indicators of CEO influence (CEO tenure,combined CEO and chair positions, and appointment ofoutsiders) are significantly and negatively associated with thelikelihood of LTIP use during the first two years afteradoption. While CEO influence is thus positively related tothe formal adoption of LTIPs (Table 2), it is negatively relatedto the actual use of LTIPs (Table 3).
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