企业家激励与公司绩效关联度的实证研究

A Demonstration Study on the Correlation between Motivation to Enterpriser and Corporation Performance

企业家激励是现代公司治理中的关键问题, 而企业家报酬水平与公司绩效之间的关联度大小将决定着激励机制对企业家所发挥的激励效应的好坏。本文采用现代计量经济学的方法对我国上市公司企业家收入与公司绩效之间的关系进行了实证研究, 结果表明二者之间的关联度非常微弱。为此本文从实施创新性激励方案、设计合理有效的绩效评价指标体系以及加大企业家舞弊成本约束力度三个方面提出了相应的对策建议。

Motivation to enterpriser is the core issue of modern corporate governance. The correlation between motivation to enterpriser and corporation performance will determine the effect of motivation to enterpriser. This paper uses the modern econometrics methods to analyse the relation between the enterpriser's income and corporation's performance. The result shows the correlativity of them is very faint. Therefor the paper put forward the responding suggestions from three aspects: put the motivation project in practice; design the rational and effective performance evaluation system; strengthen the cost restriction to enterpriser's fraudulent practices.