高管—员工薪酬差距与盈余管理实证研究

An Empirical Study on the Compensation Gap between Executives and Employees and Earnings Management

文章采用2015—2019年深沪两市A股上市公司作为研究样本,对高管—员工薪酬差距与盈余管理关系进行实证研究,并检验管理层权力和产权性质对两者之间关系产生的影响。研究发现:高管—员工薪酬绝对差距与应计制盈余管理指标、真实活动盈余管理指标显著负相关;高管—员工薪酬绝对差距对应计制盈余管理的影响存在区间效应;管理层权力对高管—员工薪酬差距与盈余管理之间关系无显著影响;与非国有上市公司相比,国有公司高管—员工绝对薪酬差距与应计制盈余管理行为之间的负相关性更为显著。基于研究结论,提出薪酬机制的制定与长期激励机制等对策建议。

This paper uses the A-share listed companies from 2015 to 2019 in Shenzhen and Shanghai as a research sample to conduct an empirical study on the relationship between executive-employee compensation gap and earnings management,and examine the impact of management power and property rights on the relationship between the two.The study found that:the absolute executive-employee compensation gap is significantly negatively correlated with accrual-based earnings management indicators and real activity earnings management indicators;the executive-employee absolute compensation gap has an interval effect on the impact of the accrual earnings management;management power has no significant impact on the relationship between executive-employee compensation gap and earnings management;compared with non-state-owned listed companies,the executive-employee absolute compensation gap in state-owned company has a more significant negative correlation with accrual-based earnings management.Based on the research conclusions,countermeasures and suggestions for the formulation of the compensation mechanism and long-term incentives are put forward.