THE EFFECT OF MONETARY INCENTIVE ON EFFORT AND TASK PERFORMANCE: A STUDY OF VIETNAMESE COMPANY

Abstract

In many Vietnamese companies, incentive systems are designed to motivate employees at work and attract new talented candidates. Monetary incentives are considered as the most powerful motivational tool in such systems. The companies originally use monetary incentives for the purpose of encouraging their employees to perform in the most effective way. However, in practice, the effectiveness of using monetary incentive to encourage them is still controversial among the researchers. In the accounting field, managers and accountants play important roles in preparing a complete financial statement. How to encourage them to make the true and fair financial statements is very important to various parties in a company. The purpose of this research is to find out the real effect of monetary incentive in the workplace, especially its effectiveness on motivating managers and accountants in providing the true and fair financial statement and performing other tasks in the company.