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業績連動報酬契約における会計情報の利用実態, Accounting-Based Compensation Plans in Japan


  • 中村, 亮介
  • Nakamura, Ryosuke


本論文の目的は,日本企業におけるインセンティブ報酬および業績連動報酬に関する情報を収集し,分析することによって,その特徴を確認し,報酬契約における会計情報の利用状況を明らかにすることである。具体的には,ディスクロージャー制度が拡充した2019年3 月期決算の企業2,391 社の有価証券報告書を対象に,該当する記述を手作業で抽出した。その結果,日本の業績連動報酬契約において,その多くがマーケット関連の指標ではなく会計情報を利用しており,そのプレゼンスは短期インセンティブにおいても中長期インセンティブにおいてもほぼ変わらないということが判明した。, This paper conducted an actual condition survey of performance-based compensation programs in Japan to understand how to use accounting information in compensation contracts. Using the publicly available data in 2019, we document direct evidence about Japanese compensation programs. Our results show that many compensation contracts in Japan use accounting information, not stock prices. This tendency applies both short-term and long-term incentive compensation.

Suggested Citation

  • 中村, 亮介 & Nakamura, Ryosuke, 2020. "業績連動報酬契約における会計情報の利用実態, Accounting-Based Compensation Plans in Japan," Working Paper Series 236, Management Innovation Research Center, School of Business Administration, Hitotsubashi University Business School.
  • Handle: RePEc:hit:hmicwp:236
    Note: June 2020, Revised in July 2020

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