上市公司的企业规模对高管薪酬水平影响的实证研究

The Influence of Firm Size on Senior Managers' Compensation:An Empirical Study of the Listed Company in China

该文主要检验上市公司高层管理人员薪酬水平与公司规模之间的关系。企业规模由六个指标构成:公司总资产、员工总人数、国际化指数、多样化指数、主营业务收入、总资产排名。模型分析结果显示上市公司高管薪酬水平与资产和收入规模显著正相关,而与员工人数弱负相关,国际化指数和多样化指数对高管薪酬产生积极的影响,排名越前的公司高管薪酬水平越可能高于平均水平。

The paper studies the relationship between firm size and senior managers' compensation based on the listed companies in Shenzhen-Share stock market and Shanghai-Share stock market.There are six variables to evaluate firm sizetotal assets,the number of employees,multinational index,diversification index,the gross sales of main businesses and order assorted by total assets.The results of model indicate that the senior managers' compensation has positive relationship with total assets and the gross sales and weak relationship with employee number.The most important conclusion is multinational index and diversification index affect managers' compensation positively and strongly.In addition,the more preceding in assets order,the more possible the managers get higher compensation than others.