高管薪酬业绩敏感性的实证研究——基于内蒙古自治区24家上市公司数据

Empirical Study on the Sensitivity of Executive Compensation Performance——Based on the Data of 24 Listed Companies in the Inner Mongolia Autonomous Region

本文以内蒙古自治区A股24家上市公司为研究对象,以2009-2018年共十年的相关财务数据为基础,对内蒙古上市公司高管薪酬业绩敏感性进行了实证分析。结果表明内蒙古自治区上市公司企业绩效对高管薪酬具有正向影响;并进一步探究了产权性质对高管薪酬业绩敏感性的作用,结果表明,与国有控股上市公司相比,非国有控股上市公司高管薪酬对企业绩效的敏感性更加显著。

In this paper,we take 24 companies listed on the A-share market in the Inner Mongolia Autonomous Region as the research object.On the basis of the relevant financial data over the past 10 years(2009-2018),we make an empirical analysis on the sensitivity of executive compensation performance of listed companies in Inner Mongolia.The results show that the performance of listed companies in Inner Mongolia has a positive impact on executive compensation.Furthermore,we further explore the effect of property rights on the sensitivity of executive compensation performance.The results are in line with the expectations.Compared with state-controlled listed companies,the executive compensation of non-state holding listed companies are more sensitive to corporate performance.