高管薪酬、风险承担与企业绩效——基于我国上市企业的经验证据

Executive Compensation, Risk Taking and Enterprise Performance:Empirical Evidence from Chinese Listed Companies

运用2010-2016年我国A股上市公司相关数据,考察高管薪酬、风险承担与企业绩效之间关系。实证结果表明:(1)高管薪酬与企业绩效间呈显著的正相关关系;(2)高管薪酬与风险承担间呈正相关关系;(3)企业的风险承担水平与企业绩效存在正相关关系。这些经验证据表明,对上市公司高管进行薪酬激励,有利于激发员工工作积极性,提高生产效率,进而提升企业业绩。得出的研究结论旨在为完善高管薪酬考核体系,实现高管薪酬业绩评价多元化提供帮助。

This paper examines the relationship between executive compensation,risk- taking and enterprise performance by using related data from 2010 to 2016 in China＇s A share listed companies. The empirical results show that：（1） there is a significant positive correlation between executive compensation and corporate performance;（2） there is a positive correlation between executive compensa- tion and risk-taking; （3） influence of the level of risk-taking on corporate performance has a positive correlation, The empirical evi- dence shows that the payment incentive for executives of listed companies helps to encourage employees to improve the production efficiency, and enhance the enterprise performance,which is for the purpose of sounding the executive compensation assessment system and realizing the diversification of executive compensation performance evaluation.