高管薪酬与企业竞争力关系的实证研究——以我国上市公司为例

The Empirical Study about the Relation between Top Executive Payment and Enterprise Competence——Chinese Listed Companies as an Example

高管薪酬设计的战略性应有利于促进企业竞争力的持续发展。文章根据四个竞争性行业上市公司的实证研究发现,董事薪酬和经营者薪酬都主要由规模竞争力决定,而几乎不受赢利竞争力、现金竞争力、成长竞争力、偿债竞争力的影响,只有董事薪酬受营运竞争力的微弱影响。这说明我国高管薪酬设计的战略性还非常欠缺,因此应根据企业不同发展环境及发展阶段上的企业竞争力培育需要,建立高管薪酬与企业相关竞争力的内在联系,以促进企业竞争力的提升。

The strategic design of top executive payment should be conducive to promote the sustainable development of enterprise competence. It is found by the empirical study method for the listed companies in four kind competitive industries that the director＇s and operator＇s payment are mainly decided by the competence of size, and almost don＇t be affected by the competence of profit, cash, growth, debt. Only there has the weak correlation between director payment and operational competence. This shows that the design of top executive payment in China still lacks the strategy and therefore there should be established the internal relation between the top executive payment and enterprise competence considering the need to foster competence in the different development environment and phase of enterprise in order to promote enterprise competence.