基于锦标赛理论视角的高管薪酬差距与公司绩效关系研究——基于房地产行业的实证研究

Study on the relationship between executive compensation gap and corporate performance based on tournament theory —based on the empirical study of the real estate industry

基于锦标赛理论,以全国上市房地产企业为研究对象,选用高管薪酬差距作为自变量,并将高管薪酬、公司规模、企业资产负债率、董事会规模、独立董事比例作为控制变量,分析高管薪酬差距与公司绩效之间的关系,研究发现公司绩效与高管薪酬差距、高管薪酬成显著正相关关系,适当提高薪酬差距、提高薪酬有助于提高公司绩效.

Choosing the real estate enterprise as the research object based on tournament theory and selectingcompensation gap as an independent variable and executive compensation, company size, debt ratio of enterpri- ses, the scale of board of directors, the proportion of independent directors as control variables, we analyze the relationship between executive compensation gap and company performance, and reach a conclusion that enter- prises performance and executive compensation, executive compensation gap have a significant positive correla- tion; increasing the pay gap and paying appropriately can improve corporate performance.