高管薪酬与企业绩效的相关性研究——以湖北省上市公司为例

Correlation Between Executive Compensation and Enterprise Performance——Taking Listed Companies in Hubei Province as Examples

本文对2013-2015年湖北省上市公司所公布的年报数据进行研究,试分析高管薪酬与企业绩效之间的相关性,分别以高管货币性薪酬、高管持股比例和高管在职消费为自变量,净资产收益率和每股收益为因变量,对相关数据进行描述性统计分析,共线性检验以及回归分析,研究结果表明湖北省上市公司高管货币性薪酬和高管持股比例与企业绩效之间存在正相关关系,而高管在职消费却与企业绩效之间呈现出无显著相关性关系。

Based on the statistics published in the annual reports of the listed companies in Hubei province from 2013 to 2015, the author makes an analysis of the correlation between executive compensation and enterprise performance. The independent variables are monetary compensation, shareholding proportion and company-paid consumption. The dependent variables are return on equity and earnings per share. Related statistics are analyzed through descriptive statistical analysis, collinearity diagnostics and regression analysis. Results of the research show that the executives＇ monetary compensation and shareholding proportion are positively correlated with the enterprise performance, while there was no significant correlation between the company-paid consumption and the company performance.