高管—员工薪酬差距与企业绩效的实证研究——基于传统制造业和高科技制造业的对比

Empirical Research on Correlation Between Executive-Employee Compensation Gap and Firm Performance:Comparison of Traditional Manufacturing and High-Tech Manufacturing Industries

选取246家沪深A股制造业公司2009—2013年的数据,在对比传统制造业和高科技制造业的基础上,对高管—员工薪酬差距与企业绩效的关系做了实证分析。研究发现:(1)无论传统制造业还是高科技制造业,高管—员工薪酬差距与企业绩效均呈显著正相关;(2)在传统制造业内,企业规模表现为显著地正向增强二者之间的关系,在高科技制造业内,企业规模的影响也表现为正相关,但不显著;(3)在传统制造业内,员工人数表现为显著地负向加大薪酬差距的作用,在高科技制造业内,员工人数的影响则表现不显著,且为正相关。

In addition to a contrast between traditional manufacturing industries and high-tech manufacturing industries,this paper gave an empirical analysis of the relationship between executive-employee compensation gap and firm performance in the listed companies,basing on the data collected from 246 Shanghai and Shenzhen A share manufacturing companies from 2009 to 2013. This study finds that in both traditional manufacturing industries and high-tech manufacturing industries,there is a prominent positive correlation between executive-employee compensation gap and firm performance;besides,in traditional manufacturing industries,the enterprise scale significantly strengthens the positive correlation,and also,in high-tech manufacturing industries,the enterprise scale strengthens this positive correlation,too,but not significantly; as for the staff number,it markedly weakens the impact of executive-employee compensation gap on firm performance,however,in high-tech manufacturing industries,the staff number shows negatively and not markedly.