旅游上市公司高管薪酬与企业财务风险——组织冗余的调节效应

Executive Compensation and Firm Financial Risk of Listed Tourism Companies——The Moderating Role of Organizational Slack

选取2009—2020年间的26家旅游上市公司作为研究样本,探究高管薪酬、组织冗余与旅游企业财务风险三者之间的关系。结果表明:高管薪酬、组织冗余均对旅游企业财务风险产生负向影响,组织冗余在高管薪酬与旅游企业财务风险之间起到负向强化作用。旅游上市公司应建立货币薪酬与股权激励相结合的薪酬激励体制,正确看待组织冗余的作用。

This paper studies the moderating role of organizational slack between executive compensation and fi rm fi nancial risk by selecting 26 Chinese listed companies in the tourism sector during 2009—2020.The results show that executive compensation,organizational slack have negative eff ects on fi rm fi nancial risk,and that organizational slack plays a negative strengthening role in executive compensation and fi rm fi nancial risk.Therefore,tourism companies ought to establish a monetary remuneration and share incentive compensation incentive system,and take corrects view of the role of organizational slack.