我国上市公司薪酬委员会的有效性研究——来自沪深两市A股的证据

Research on Validity of Remuneration Committee of Listed Companies in China——A Evidence from A-Shares in Both Shanghai and Shenzhen Stock Exchanges

本文根据2002年《上市公司治理准则》,并结合公司治理理论,以2005年269个沪深两市的A股公司为样本,对我国上市公司薪酬委员会的有效性进行了实证分析。结果表明,经理人员薪酬与董事会是否设立薪酬委员会呈显著负相关关系,经理人员薪酬与董事会薪酬委员会独立性不存在显著的相关关系。最后,对我国上市公司设立薪酬委员会提出了建议。

The essay is based on the 2002"Corporate Governance Guidelines",in conjunction with corporate governance theory,and uses 269 A-share listed companies in both Shanghai stock exchange and Shenzhen stock ex- change for sample to carry out the empirical analysis on the validity of listed companies’ remuneration committee in China.The result indicates that there is a significant negative correlation between CEO compensation and establishment of the remuneration committee;there is not a significant correlation between CEO compensation and independence of remuneration committee.Finally,the essay gives some suggestions to China’s listed companies about establishment of remuneration Committee.