高管薪酬、收入差距与企业绩效关系实证研究——来自中国制造业A股上市公司的经验证据

An Empirical Study on Executive Compensation,Income Gap and Firm Performance

以2012年1 189家中国制造业A股上市公司为样本,实证研究高管薪酬、收入差距与企业绩效之间的关系。研究结果表明,公司高管薪酬与企业绩效显著正相关,公司高管与一般员工的收入差距与企业绩效呈现显著U型相关,从而支持了薪酬激励理论。进一步研究还表明,薪酬激励的效果随公司的实际控制人类型的不同而呈显著的变化,这对不同控制人类型的公司进行适宜的薪酬激励设计和安排具有重要价值。

The paper gives an empirical research on executive compensation, income gap anci tlrm performance oi listed firms in china in 2012. The results show that, firm executive compensation and firm performance is signifi- candy correlated; the income gap between corporate executives and the general staff and the performance has a U re- lationship, thereby supporting the compensation incentive theory. Moreover, the salary incentive effect along with the eompanyg actual control typeg shows significant changes, and it has important value that the different types of controllers of the company are suitable compensation design.