Purpose

This study locates one surprisingly powerful ally of neoliberalism enabling its proliferation in certain contexts, the discursive notion of the “long term” (LT). Earlier literature has shown that neoliberalism is concerned with investors' decision-making that has been claimed to be based on LT forecasts. This research explains this focus on the “long term.”

Design/methodology/approach

Share-based compensation (SBC) is investigated in one case company. The data consist of interviews with executives, board members, analysts and owners and also of archival data on the executives' performance measurement and compensation.

Findings

Much research equates “share-based compensation” with “long-term compensation,” and the present study terms this relation “the myth of long-term compensation.” It is demonstrated that multiple features of share-based plans, characteristics of the management in question and contextual factors of the company and its governance tie in with the time orientation of such compensation. Multiple contradictions and irregularities in the literature on SBC are analyzed, undermining the claim that SBC is invariably LT oriented. Relying on Barthes' work, the study illustrates how LT SBC is a myth contributing to the ideology of neoliberalism.

Research limitations/implications

It is proposed that the terms “share-based compensation” and “long term” be distinguished from each other for analytical and practical purposes. SBC, and thus neoliberalism, can sometimes be linked to the short term.

Originality/value

“Long term” is illustrated as a significant instrument for deploying ideologies.

中文翻译：

---

“长期”作为部署新自由主义的工具：长期补偿神话

目的

这项研究找到了一个新自由主义的令人惊讶的强大盟友，可以使它在某些情况下（“长期”（LT）的话语概念）扩散。较早的文献表明，新自由主义与投资者的决策有关，据称该决策基于长期预测。这项研究说明了对“长期”的关注。

设计/方法/方法

在一家案例公司中对基于股份的补偿（SBC）进行了调查。数据包括与高管，董事会成员，分析师和所有者的访谈，以及高管绩效衡量和薪酬的档案数据。

发现

许多研究将“基于股份的报酬”等同于“长期报酬”，本研究将这种关系称为“长期报酬的神话”。事实证明，基于股份的计划的多种特征，相关管理层的特征，公司的背景因素及其治理与这种薪酬的时间取向紧密相关。分析了SBC文献中的多个矛盾和不合规定之处，破坏了SBC始终是面向LT的说法。依靠巴特斯的工作，这项研究说明了LT SBC是如何促成新自由主义意识形态的神话。

研究局限/意义

建议出于分析和实际目的，将“基于股份的报酬”和“长期”一词区分开。SBC和新自由主义有时可以与短期联系在一起。

创意/价值

“长期”被说明是部署意识形态的重要工具。