摘要
本文利用沪深两市14家上市银行2005～2009年面板数据，以广义最小二乘法分析了上市银行CEO薪酬、董事薪酬的影响因素。研究发现，CEO薪酬与公司治理变量及代表股东权益的EPS显著相关，这表明CEO薪酬已经与企业绩效初步关联；独立董事薪酬与银行规模、股权结构、公司治理、CEO薪酬以及ROA及其滞后变量显著相关，而关联董事薪酬与银行规模、董事年龄、CEO薪酬、ROA和EI）S的滞后变量及监管政策变量显著相关；不同类型的高管薪酬影响因素存在很大差异，这与银行各类高管在经营管理过程中的工作性质有密切关系。
The paper uses panel data of 14 listed banks from 2005 to 2009 and generalized least square method to empirically analyze the factors of CEO＇s and director＇s compensation. CEO＇s compensation is significantly correlated with corporation govemance variables and EPS, which means CEO＇s compensation has preliminarily been associated with enterprise performance. Independent director＇s compensation is significantly correlated with bank size, ownership structure, corporate governance, CEO＇s compensation, ROA and EPS＇s lag variables; related director＇s compensation is correlated with bank size, director＇s age, CEO＇ s compensation, ROA and EPS＇s lag variable and regulation policy. The empirical result shows that there are significant difterences in factors of the compensation of the different top management, which can be explained by their different work natures in the process of management.
出处
《金融论坛》
CSSCI
北大核心
2011年第7期49-57,共9页
Finance Forum
基金
国家社科基金"基于信度理论和贝叶斯网络的商业银行操作风险计量与管理研究"(09BJL024)
重庆市自然科学基金"基于贝叶斯网络的商业银行全面风险管理与预警系统"(2009BB2042)资助
关键词
上市银行
CEO
独立董事
关联董事
薪酬
listed bank
CEO
independent director
related director
compensation
