公司治理结构对总经理长期激励的影响分析

Analysis of the Influence of Corporate Governance Structure on the Long-term Incentive for General Manager

本文研究了上市公司董事会特征和股权结构对总经理长期激励程度的影响。发现,董事会规模与总经理长期激励程度无显著相关关系;独立董事比例、内部董事比例、总经理与董事长年龄都与总经理的长期激励程度显著正相关;国有股比例对总经理的长期激励的影响呈现倒U型关系。

Researches on the managerial long-term incentive, less scholars study the influence factors of managerial long-term incentive in the scheme of corporate goverance. This paper analyzes the influence of characteristics of director board and ownership structure on the long-term incentive for general manager. We find the total number of board is irrelevant with the long-term incentive for general manager, the ratio of independent and inside directors, the age of general manager and chairman of board is significantly relevant with the long-term incentive for general manager. We also conclude that there is an adverse ‘U’ shape affect of proportion of state-owned share on the long-term incentive for general manager.