关于股份公司经理层薪酬构成的思考

On the Remuneration Composition of Management in Corporations

在现代股份公司中,随着股东结构的日趋分散,经理层已在相当大的程度上拥有了公司的实质性控制权,在这种格局下,股东财富最大化目标的实现,越来越取决于经理层的素质与能力。随着知识产权资本化,经理层在公司中同时拥有双重身份——知识资本所有者兼高级别雇员,这种双重身份决定了经理层的薪酬应由雇员薪金和知识资本报酬两方面构成,其中雇员薪金又可细分为生活保障薪金和风险薪金两部分。

With capitalizing of intellectual property rights, the managers in a corporation play double roles： the owners of intellectual capital and senior employees. It determines that the remuneration of managers will have two parts： salaries of employees and returns to their intellectual capital, while salaries can be further sub--divided into tow parts： risk compensation and life--security salaries.