高管薪酬、社会责任与企业绩效——基于沪深A股企业的经验数据

Executive Compensation,Social Responsibility and Corporate Performance

文章以2012~2016年沪深A股772家企业的年度数据为基础,实证检验了上市公司的高管薪酬、社会责任与企业绩效三者之间的关系。研究发现,企业通过履行社会责任能够促进企业绩效水平的提高,而且企业履行社会责任越积极,企业绩效水平提升得越显著;企业履行社会责任消极,会降低企业的绩效水平;企业高管薪酬的提高,能够促进社会责任与企业绩效的正向调节关系。因此,本文的研究对提高企业社会责任履行意识,更好地促进社会责任履行具有借鉴意义。

Based on the annual data of 772 companies in 2012-2016 Shanghai and Shenzhen A shares stock markets,the article empirically tests the relationship among executive compensation,social responsibility and corporate performance of listed companies.The study finds that enterprises can promote the improvement of corporate performance by fulfilling their social responsibilities,and the more positive corporate social responsibilityis,the more significant the performance of the companyis;the more negative a company's social responsibilityis,the lower the performance level of the companyis.In addition,it has also been found that the improvement of corporate executive compensation can promote the positive relationship between social responsibility and corporate performance.Therefore,the research in this paper can be used to improve the awareness of corporate social responsibility and better promote the fulfillment of social responsibility better.