股权制衡下高层管理人员薪酬影响因素研究

Factors of Executive's Remuneration under the Power Balance with Shareholder Structure

高管薪酬是公司治理的重要问题。薪酬激励的有效性影响了公司的治理效率。将股权制衡因素引入到高管薪酬研究之中,发现股权制衡程度高低将影响高管薪酬,而企业业绩与高管薪酬之间没有显著相关性。这与传统激励与约束机制相矛盾,这一结论为进一步研究指明了方向。

Executive＇s remuneration is one of the important issues of corporate governance.Different from the previous research,this paper will take power balance with shareholder structure factors into consideration about the question of executive＇s remuneration.The paper found that the degree of power balance with shareholder structure will have an impact on executive＇s remuneration.There is,however,no significant correlation between enterprise performance and executive＇s remuneration.This conclusion is contradictory to the traditional nature of incentive and restraint mechanism,which points out a right direction for further research.