产品市场竞争与高管人员激励研究——基于中国上市公司的面板数据

The Study of Product Market Competition and Top Managers Incentives

不同行业的企业会面临不同的市场竞争状况,这些不同的竞争状况会不同程度地影响公司高管的努力程度,同时也影响着企业对其高管的激励机制。在中国上市公司中,效益良好的企业面临更高的市场竞争时,会对其高管进行更多的激励;而对于效益低下的企业则正好相反。

Enterprises in various industries will face different situations of market competition and these will have effects on the effort in different extent of their top managers. At the same time, incentive mechanism which enterprises give to their top managers will be influenced too. In Chinese listed companies, those with good benefit will stimulate more to their top managers when faces higher market competition degrees. As to inefficient companies, the result is just opposite.