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张莹莹 · 2024年02月29日

解释答案

NO.PZ2022120701000048

问题如下:

Which executive remuneration concern is most likely expressed by board members?

选项:

A.Across the market as a whole, executive pay rates continue to ratchet up.

B.Executive pay does not reflect the market performance of the shares.

C.The executive pay structure does not incentivize executives to deliver maximum value.

解释:

Misunderstandings between board members and investors over executive pay have led to a lack of trust between the two parties, with board members concerned that their remuneration proposals could be voted down by investors This situation may lead to the negotiation of a compromised executive pay structure that does not necessarily enable the executives to unlock the full potential of the company but is likely to receive voting support from investors Broader concerns about market rates for executive pay and potential disconnects between executive pay and market performance are more often expressed by investors who are not on the board

为什么选C?B说的是高管和投资者之间的利益诉求?C说的是董事会对高管的诉求? 另外,翻译一下此题的英文解释吧,我觉得说的乱码七糟啊。

1 个答案
已采纳答案

王岑 · 2024年03月01日

嗨,努力学习的PZer你好:


答案的解释的翻译:“董事会成员和投资者之间关于高管薪酬的误解导致了双方之间信任的缺失,董事会成员担心他们的薪酬提案可能会被投资者否决。这种情况可能导致董事会和高管团队协商出一种折衷的薪酬结构,这种结构未必能让高管释放公司的全部潜力,但很可能获得投资者的投票支持。对整个市场的高管薪酬水平以及高管薪酬与市场表现之间可能的脱节更多是非董事会成员的投资者所表达的更广泛关注。”答案的意思是说,由于董事会成员和投资者之间对于高管薪酬的不同理解,双方之间的信任关系受损。董事会担心,如果他们提出的薪酬方案没有得到投资者的支持,可能会被否决。这种情况可能迫使董事会与高管协商出一个既不能充分激发公司潜力又可能得到投资者支持的折中薪酬方案。相比之下,对于高管薪酬水平的普遍担忧和高管薪酬与公司市场表现之间的不一致,通常是投资者而非董事会的关注点。

题目问的是,董事会成员最有可能表达对高管薪酬的哪种担忧? 选项C是正确答案,是因为它直接反映了董事会成员可能最关注的问题:即当前的高管薪酬结构是否足够激励高管为公司创造最大价值。董事会的职责之一是确保公司的长期成功和增长,因此他们会关注薪酬结构是否能有效激励高管团队实现这一目标。

选项B讨论的是高管薪酬与市场表现之间的关联,这通常是投资者更加关注的问题。投资者可能会担心,如果公司股价表现不佳而高管仍然获得高薪,这可能意味着薪酬结构与公司表现脱节。虽然这也是董事会需要考虑的问题,但相对于确保薪酬结构能激励高管最大化公司价值(如C所述),B更多反映了外部投资者的视角。


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虽然现在很辛苦,但努力过的感觉真的很好,加油!

张莹莹 · 2024年03月12日

加油!!!

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