企业异质性视角下高管薪酬激励对社会责任的影响研究

The Influence of Executive Compensation Incentive on Social Responsibility Based on the Enterprise Heterogeneity

以2013—2018年中国A股上市企业为样本,分析了企业异质性视角下高管薪酬激励与社会责任的相关性。研究结果表明:高管薪酬激励对社会责任披露呈正向相关性,但企业异质性视角下,尤其在企业生产效率较低、内部控制水平较弱、行业属性为重污染、市场竞争环境处于高竞争等状态,即企业经营情况不理想时,高管薪酬激励与社会责任之间才会呈现1%的显著正相关。说明企业制定高管薪酬激励方案时应结合自身的异质性条件,若企业经营状态不够乐观,须加强高管薪酬激励程度、提高薪酬水平,以有效促使高管积极履行社会责任。

Using the data of A-share listed companies during the period between 2013 and 2018 as a sample,this paper analyzes the correlation between executive compensation incentives and corporate social responsibility from the perspective of enterprises heterogeneity.The results show that executive compensation incentives are positively correlated with social responsibility disclosure,but considering enterprises heterogeneity,executive compensation incentives and social responsibility present a 1%significantly positive correlation when the enterprise operation state is not ideal,that is the enterprise has low production efficiency or low internal control,belongs to heavily polluting industries or is in highly competitive market environment.It indicates that when companies formulate executive compensation incentive plans,they shall combine their own heterogeneous conditions.If the enterprise operation state is not well enough,it shall enhance the degree of executive compensation incentives,increase the salary level to effectively promote executives to actively perform social responsibility.