经济危机、股权性质与雇员薪酬

The Influence of Economic Crisis and Ownership on Employees’ Compensation

本文定量分析了经济危机中股权性质对雇员薪酬的影响,选取1999年至2014年我国A股上市公司为样本,利用经济危机中的雇员薪酬数据进行研究。研究发现:国有企业雇员薪酬比非国有企业高;从整体上看经济危机会导致雇员薪酬有所下降;在经济危机中,国有企业比非国有企业采取了更加积极的雇员薪酬激励政策。进一步研究发现,普通职工薪酬受股权性质影响较大,高管薪酬受经济危机影响较大;中央国企比地方国企受经济危机影响较大。本文研究结论有助于了解经济危机中股权性质对雇员薪酬的影响,同时也为当下政府发布的"限薪令"提供经验支持。

Based on Chinese A- share listed companies from 1999 to 2014,this essay studied the influence of economic crisis and ownership on employees’ compensation. Results show that state- owned enterprises pay higher to employees than the non- state- owned ones; economic crisis will lead to a drop in employees’ compensation in a whole;while in economic crisis,state- owned enterprises have taken a more positive employee salary incentive policy. Further study finds that ownership have stronger influence on ordinary workers’ compensation while economic crisis affects more on the executives; and employees’ compensation in central state- owned enterprises has been effected more by economic crisis than those in local state- owned enterprises. This research is helpful to understand the influence of economic crisis and ownership on employees’ compensation and supplies empirical experience for government- imposed pay curbs.