股权性质、高管激励与企业绩效

The Nature of Equity, Executive Incentives and Corporate Performance

以我国创业板上市公司2016—2018年的数据为样本,论文研究高管激励与企业绩效之间的相关关系。首先将高管激励分为薪酬和股权激励两方面,并进一步根据股权性质的不同分样本进行检验。得出结论:高管薪酬和高管股权激励能显著提升企业绩效;相比非国有企业,国有企业上市公司高管薪酬对企业绩效的提升作用更明显;而对于股权激励,则非国有企业上市公司的提升作用更明显。

Taking the data of my country's GEM listed companies from 2016 to 2018 as a sample,this paper studies the correlation between executive incentives and corporate performance.First,the executive incentives are divided into two aspects:salary and equity incentives,and further tests are carried out according to different sub-samples of the nature of equity.It is concluded that executive compensation and executive equity incentives can significantly improve corporate performance;compared with non-state-owned enterprises,the executive compensation of listed state-owned companies has a more obvious effect on corporate performance;while for equity incentives,non-state-owned enterprises are listed The company's promotion effect is more obvious.