主讲人：Zhichao (Alex) Wang 副教授，澳大利亚国立大学

主题：The Incentive Effects of Target-Based Relative Performance Evaluation

时间：2026年1月06日下午15:00 -16:30

地点：学术会堂702会议室

主持人：李娅妮助理教授，中央财经大学会计学院

摘要：Firms commonly evaluate performance either relative to fixed beginning-of-period targets or relative to end-of-period peer results. We examine the incentive effects of combining both the fixed and relative performance benchmarks using data on annual bonuses of regional sales managers from a Chinese manufacturer of office products. Before the COVID-19 pandemic, bonuses were based on individual performance relative to beginning-of-period targets. Given the difficulty of calibrating targets during the pandemic, starting in 2020, bonuses were based on a ranking of target achievement relative to peers. We predict and find that this performance evaluation change was associated with (i) a lower serial correlation in performance relative to target, a proxy for less slack in targets, (ii) an improvement in performance relative to best peers, (iii) less strategic withholding of effort in the last month of the year, but also with (iv) more multi-tasking problems as managers sacrificed profitability and other firm objectives to increase sales.

主讲人简介：Zhichao (Alex) Wang 现任澳大利亚国立大学商业与经济学院会计研究院副教授。他于澳大利亚国立大学获得会计学博士学位，并持有澳大利亚和新西兰特许会计师资格。他的研究专注于管理会计领域，涵盖组织内部控制、绩效评估、激励机制及风险管理等方向，擅长结合定量与定性研究方法。其研究成果已在《Contemporary Accounting Research》《The British Accounting Review》《Accounting, Auditing & Accountability Journal》等多本国际权威学术期刊发表，并担任多本高水平期刊的审稿人。他在银行、医疗、汽车、制造及建筑等多个行业拥有广泛的企业合作经验，曾获多项竞争性研究基金与学术奖项。

撰稿 | 林雯 王佳琪 李娅妮

排版 | 刘怡帆

审核 | 郑登津