国有企业管理层激励效应研究:演进与展望

The Effect of Management Incentive of Chinese State-Owned Enterprises:Evolution and Prospect

中国国有企业改革实践的持续推进与相关政策情境的变动,极大地推动了国有企业管理层激励机制的建立和完善,同时也促进了国有企业管理层激励效应研究的不断发展。本研究运用定性文献分析法和定量文献计量法概括了当前国有企业管理层激励效应研究的整体状况,并基于国有企业改革的线索,分别从激励要素、激励结果、制度情境、研究方法和理论基础五个方面对该主题研究的演进脉络进行全面梳理、提炼。本研究指出该领域研究的局限性包括:激励要素的范围和测量缺乏基础性研究;激励过程机制研究忽视了对国有企业管理层心理和行为机制的探讨;研究方法上受制于二手数据并过于关注数据层面的关系;研究对象聚焦于企业高层而忽视了国有企业不同层级管理者之间激励的差异性。通过深入透析国有企业管理层激励效应研究的演进脉络,本研究最后有针对性地从国有企业管理层需求和动机的特性、分层分类激励组合、激励过程机制、研究方法四个方面对未来该领域研究的开展提出了合理化的建议。

The reform of China's state-owned enterprises(SOEs)have promoted the development of corporate governance structure of SOEs.As an important part of corporate governance structure,the incentive mechanism of managers has also made great progress in this process.The practice of management incentive of SOEs has attracted the attention of scholars,who have carried out a lot of research about this topic,and explored the incentive effect of managers of SOEs.Since the reform of SOEs is carried out by the administrative power of the government,the related policies of the government have a significant impact on the direction and path of the reform of SOEs.Besides,the reform of SOEs is dynamic,which means that SOEs have different tasks and emphases at different phases.The government will formulate policies for each stage to solve crucial issues.Therefore,the change of policy will promote the evolution of management incentive both in practice and theory.The purpose of this paper is to have a comprehensive view in this field.In order to do that,this paper uses qualitative literature analysis method and quantitative bibliometrics method to explore the overall situation of the effect of management incentive of SOEs.On this basis,this paper points out existing problems in this field and puts forward suggestions for future research.This paper summarizes the evolution of this field from five aspects,including incentive factors,results of incentives,policy contexts,research methods and theoretical perspectives.Firstly,the incentive factors for managers are changing from political incentive such as political turnover and perk to market-oriented factors like compensation and equity incentive.Secondly,the incentive results change from financial and social performance to the quality of governance and development of enterprises.Thirdly,as for related policy contexts,scholars initially focus on the internal governance of enterprises and the assessment mechanism of the government,and then become interested in the external market mechanism.Fourthly,scholars use a variety of research methods,initially relying mainly on theoretical analysis and economic model derivation,and later changing to empirical research.Fifthly,the theoretical perspective in this field has changed from the corporate governance theory to the co-existence of multiple theories in economics.This paper also points out the limitations of this field.First of all,there is a lack of basic research on management incentive factors.These factors may not satisfy needs and stimulate motivations of managers.The limitation on the measurement of factors can interfere with the understanding of incentive effect of these factors.Next,the research on the process mechanism is weak,which has neglected managers'psychological and behavioral mechanisms.What's more,the research in this field overly depend on secondary data and the superficial relationships between variables.Finally,scholars has overpaid much attention on top management and overlooked lower-to-middle managers.These limitations influence the development of this field adversely.Then,this paper puts forward suggestions for future research from four aspects.Firstly,researchers should focus on the specific needs and motivations of managers.Secondly,researchers should pay more attention on the stratified and classified incentive combinations.Thirdly,scholars should explore the role of psychological and behavioral mechanisms in management incentive effect.Fourthly,researchers should use different methods to solve problems in this field.