Taking a balanced panel data consisting of 4365 firm-year observations drawn from the listed state-owned enterprises in Shanghai and Shenzhen Stock Exchange over 2007-2015 as the research sample,the paper examines the...Taking a balanced panel data consisting of 4365 firm-year observations drawn from the listed state-owned enterprises in Shanghai and Shenzhen Stock Exchange over 2007-2015 as the research sample,the paper examines the effect of the employees’pay-performance sensitivity(PPS)on the future firm performance from the two competing perspectives of“incentive effect”and“risk-aversion effect”,adopting the method of multiple regression analysis based on OLS and applying the SPSS23 as the data processing tool.Theoretical analysis and empirical results demonstrate that there is a positive link between the employees’PPS and the future firm performance.To improve the employees’PPS can stimulate the engagement of the employees,improve their working quality,enrich their workplace innovative behavior,and further lead to higher future firm performance.Meanwhile,the positive effect of the employees’PPS on the future firm performance is,on average,lower than that of the top executives’PPS on the future firm performance.Implications of the findings are provided in the end.展开更多
Drug addiction results in long-term synaptic potentiation at excitatory synapses in the brain reward circuitry,especially in the ventral tegmental area（VTA）and nucleus accumbens（NAc）,central parts of the mesolimbi...Drug addiction results in long-term synaptic potentiation at excitatory synapses in the brain reward circuitry,especially in the ventral tegmental area（VTA）and nucleus accumbens（NAc）,central parts of the mesolimbic dopamine system,and then progresses to other cortical regions[1,2].展开更多
基金This research was supported by the National Natural Science Foundation of PRC under Grant"71872149".
文摘Taking a balanced panel data consisting of 4365 firm-year observations drawn from the listed state-owned enterprises in Shanghai and Shenzhen Stock Exchange over 2007-2015 as the research sample,the paper examines the effect of the employees’pay-performance sensitivity(PPS)on the future firm performance from the two competing perspectives of“incentive effect”and“risk-aversion effect”,adopting the method of multiple regression analysis based on OLS and applying the SPSS23 as the data processing tool.Theoretical analysis and empirical results demonstrate that there is a positive link between the employees’PPS and the future firm performance.To improve the employees’PPS can stimulate the engagement of the employees,improve their working quality,enrich their workplace innovative behavior,and further lead to higher future firm performance.Meanwhile,the positive effect of the employees’PPS on the future firm performance is,on average,lower than that of the top executives’PPS on the future firm performance.Implications of the findings are provided in the end.
基金supported by grants from the Postdoctoral Foundation of Jiangsu Province,China(1601180B)a Project of the Postdoctoral Science Foundation of China(2016M601841)
文摘Drug addiction results in long-term synaptic potentiation at excitatory synapses in the brain reward circuitry,especially in the ventral tegmental area（VTA）and nucleus accumbens（NAc）,central parts of the mesolimbic dopamine system,and then progresses to other cortical regions[1,2].
