薪酬外部公平性对在职消费及其经济效应的影响

The Influences of External Pay Equity on Perks and Its Economic Effects

基于行为经济学视角,薪酬外部公平性带来的心理感知会影响高管的在职消费行为,从而对其经济效应产生影响。以2011—2014年沪深A股非金融公司为研究对象,通过实证研究发现三点结论：（1）薪酬负向不公平时,在职消费增长幅度远远高于正向不公平状态。（2）薪酬正向不公平时,在职消费经济效应表现符合代理观,不公平程度对其没有显著影响;薪酬负向不公平时,在职消费经济效应表现符合效率观,不公平程度对其产生显著负向影响,但随着不公平程度的加剧其影响逐渐减弱。（3）国有与非国有公司薪酬外部公平性对在职消费经济效应的影响存在显著差异。

Based on the behavioral economics perspective, executives＇ perception on external pay equity will affect their behavior of perks, which may change perk＇s economic effect. This paper took Shanghai and Shenzhen non-financial companies of A shares for 2011-2014 as the research object, found three conclusions as follows. First, the amplification of perks in negative inequity-pay sample group is apparently higher than that in positive inequity-pay sample group. Second, perks economic effect on positive inequity-pay sample group accords with agency view and the inequity degree has no significant impact on it; perks economic effect in negative inequity-pay sample group accords with efficiency view and the inequity degree has significant negative impact on it, which be gradually weakened with the increase of negative unfairness degree. Three, there is significant difference about the influences of external pay equity on perks and its economic effect in stateowned and non- stateowned companies.