股东与员工利益分配的相关性及其对企业绩效的影响——以90家上市公司为例

The Relation of Benefit Distribution Between Stockholder & Employee and Its Effect on Corporate Performance——A Case Study of Chinese 90 Listed Companies

如何处理好企业利益相关者之间的利益分配关系是企业维持和谐发展所必须解决的关键问题之一。文章选取股东与员工的利益分配关系为代表,以90家上市公司为样本,探讨了其显性经济利益分配实际结果的相关性及其与业绩的关系。结果表明我国股东(或员工)的利益分配与同期业绩的相关性很小,但股东利益分配和员工利益分配的变化与业绩变化的相关性较高,同时股东利益分配与员工利益分配之间存在一定相关性,并且这种相关性具有一定区域差异。从长期变化趋势看,这种相关性可能是影响业绩增长的一个潜在因素。

How to allocate interests among corporate stakeholders is an essential issue for a corporation to develop in coordination.This article,through selecting Chinese 90 listed corporations as a sample and taking stockholder and employee as the representative relation of benefit distribution,has investigated the correlation involved in the actual allotment of the dominant economic interests between the two parties and its possible influence.The results indicate that there is certain correlation between the benefit distribution of stockholder and employee,and this type of correlation has certain effect on corporate performance at regional difference.In long run,an increase in the coordination of benefit distribution possibly is a potential factor to affect the performance.