新疆上市公司高管人员激励与企业经营绩效的实证研究

An Empirical Study on Incentives to Top Management and Corporate Performance of Listed Companies in Xinjiang

企业高管人员的激励问题一直是各方关注的焦点。本文运用新疆上市公司的经验证据来考察公司经营绩效与高级管理人员激励的关系。结果表明,高管人员的年度报酬与上市公司的经营绩效并不存在显著的正相关关系。高级管理人员的持股也没有达到预期的激励效果,而仅仅是一种福利制度安排。国家股比例与公司经营绩效之间不存在正相关或负相关的关系。研究结果还表明,高级管理人员的报酬水平与企业规模(总资产)存在显著的正相关关系,与其所持股份存在负相关关系。

This paper mainly investigates the relationship between corporate performance and incentives to top management based on empirical evidence of listed companies in Xinjiang. The findings demonstrate that there is no positive relationship between annual compensation and corporate performance. The findings also indicate that there is positive correlation between the compensation level and corporate size, and negative correlation between the compensation level and the amount of shares held by top management.