Dodata ekonomska vrednost u funkciji utvrđivanja kompezacionih sistema u preduzeću
Economic Value Added in the Function of Determining the Compensation Systems in the Enterprise
Докторанд
Ilić-Pupovac, Maja N.Ментор
Bonić, LjiljanaЧланови комисије
Sekulić, VesnaJakšić, Dejan
Метаподаци
Приказ свих података о дисертацијиСажетак
Determination of compensation systems is an important step towards achieving the
primary goal of any company-creating value for owners. For years, compensation
systems were determined by traditional financial performance base on the accounting
information in wich the numerous studies have shown that the correlation between
that compensation system and company performance indicators is not strong enough.
Economic value added concept use all cost of capital (cost of equity and cost of borrowed
capital) and modifies the accounting data. Positive economic value added, in a
given period, means that the management has increased value for owners and vice
versa. Thereby the EVA concept become tool that was used for defining the system of
compensation. Based on condacted research done on compensation system built on the EVA
concept, following conclusions were being made: it provides more realistic basis for
determening business success in regards to a compensation system based on financial
perf...ormance; it shows if the value for owners is really creted; EVA is more complex and
computationally more delicate than the compensation system based on financial
performance; employee's compensation that were based on the EVA concept represent more
realistic pay than the compensation that were based on the traditional compensation system;
by using accounting modifications EVA eliminate significant shortcomings of traditional
financial reporting, that is the basis for compensation system based on financial performance.
Also, an empirical study of developed compensation system were made and all opportunities
and challenges in the implementation of the EVA concept in building a system of rewards in
corporations in Serbia where determined. The research has shown that the achievements of
the implementation of compensation systems based on EVA in companies in developed
countries, can be applied in the process of improving the compensation system in companies
in Repablic of Serbia, with some adaptations due to the lack of complete data, that are
necessary for displaying this concept.