高管薪酬激励、在职消费与经营绩效——基于房地产上市公司的实证研究

Executive Salary Incentives,On-the-Job Consumption and Operating Performance——An empirical study based on real estate listed companies

房地产上市公司由于其行业特殊性,可能会产生大额在职消费,通过对薪酬激励情况分组可以分析在职消费对企业经营绩效产生的影响,从而进一步完善激励体系。通过选取沪深两市2013-2015年房地产上市企业为研究对象,运用STATA软件进行实证检验。结果发现:在不同的激励情况下,在职消费对公司经营绩效的影响不同。

Real estate listed companies may produce large amount of on-the-job consumption due to their special industry.This paper attempts to further improve the incentive system by grouping the incentive incentive to analyze the impact of on-the-job consumption on business performance.Through the selection of real estate listed companies in Shanghai and Shenzhen from 2013 to 2015 as the research object,the use of STATA software for empirical testing.The results show that under different incentive conditions,the impact of on-the-job consumption on the company＇s operating performance is different.