高管薪酬、股权性质与公司绩效相关性研究

随着市场经济的快速发展,高管在公司中的地位越来越重要,对高管实行有效激励会给公司带来更大效益;此外,随着公司股权性质的不同导致高管薪酬对公司绩效的影响也不同,本文以沪深两市A股上市公司2014～2018年相关数据为样本数据,实证分析我国上市公司高管薪酬与公司绩效之间的关系;对比分析了国有和非国有上市公司公司高管薪酬对公司绩效的影响.结果发现:我国上市公司公司高管薪酬与绩效之间存在显著正相关关系,且非国有上市公司高管薪酬对绩效有更显著的正向作用.而且根据结论提出通过完善公司的薪酬激励制度以及对公司监督、约束机制加强管理来有效提高公司的绩效.

Research on the Correlation between Executive Compensation, Equity Nature and Company Performance

Abstract:With the rapid development of market economy, executives play an increasingly important role in the company. Effective incentives for executives will bring greater value to the company. At the same time, the influence of executive compensation on corporate performance is different due to the different ownership nature of companies. Based on the relevant data of A-share listed companies in Shanghai and Shenzhen from 2014 to 2018, this paper empirically analyzes the relationship between executive compensation and corporate performance of listed companies in China, and compares the influence of executive compensation on corporate performance between state-owned and non-state-owned listed companies. According to the results, it is found that there is a significant positive correlation between executive compensation and performance in listed companies in China, and executive compensation in non-state-owned listed companies has a more significant positive effect on performance. Therefore, according to the conclusion, it is proposed to improve the company''s performance by perfecting the company''s salary incentive system, strengthening the management of the company''s supervision and restraint mechanism, and so on.