经营者报酬与公司绩效相关性实证研究

Demonstrative Research on the correlativity between the Pay to Executives and the Performance of Corporations

经营者激励是研究委托代理中的关键问题,而经营者报酬水平与公司绩效之间的相关性大小将决定着激励机制对经营者所发挥的激励效果。采用计量经济学的方法对我国上市公司经营者报酬与公司绩效之间的关系进行实证研究,可得出二者之间呈现弱相关性的结论。应实施创新性激励方案,设计合理有效的绩效评价指标体系作为对策。

The incentive to executives is one of the key problems to principa agent. The Correlation between the pay to executives and the perfonmance of corporations deteramines the incentive effect. The article analyzes the relctions between the pay to executives and the performance of corporations of our country, and comes to a conclusion that the correlativity of them is very faint. Therefore the article puts forward the corresponding proposals from two aspects： putting the creative motivation project in practice; designing the rational and effective performance evaluation system.