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1、AbstractCEOpayofListedCompanieshasalwaysbeenanimportantareaofcorporategovernance,basedonprincipal-agenttheory,inordertoensuretheinterestsofconsistencybetweenthecompany'sshareholdersandtheoperators,choosingtheperformancelevelofexecutivepayasthemaindeterminantcanmostcauseexecutivesattentionof
2、thecompany'sbusinessconditions.Butifallexecutivepaygoalongwiththeproportionalpositivechangesincompanyperformancewithouttakingthecontributionofindividualexecutivesintoaccount,itisnotaneffectiveincentivemechanismtoachieve,Italsocannoteffectivelystimulatetheenthusiasmofeachexecutivewithintheex
3、ecutiveteam.Areasonableincentivemechanismwillproducethepaygapwithintheteam,doesitaffecttheperformanceofthecompany,thisisaproblemworthyofstudy.Tosolvetheproblemhasfar-reachingsignificanceofdeepeningthereformofexecutivepayincentivesystemandimprovingthemoderncorporategovernancesystem.Throughth
4、etheoryofexecutivepaygapwithintheteam,analizingthecurrentsituationoftheCEOpaygapwithintheteamimpactingonperformanceinmanufacturingsectordeeply,puttingforwardcountermeasuresandsuggestions,toprovidereferenceideasontheCEOpaysystemdesign.Thispaperisorganizedasfollows,thefirstintroductionpartint
5、roducestheresearchbackground,significance,researchideasandmethods,summarizingthemainpointviewofresearchscholars.Thesecondpartisdividedintotheoreticalandanalysissection,firstlyelaboratingthetwodescribedtheoryofthepaygap--gametheoryandbehavioraltheory;followedbytherelevantconceptsofthepaygap;
6、again,conductingadescriptivestatisticsontheexecutivepaygapwithintheteaminmanufacturinglistedcompaniesfrom2006to2008,sortingoutthecurrentsituationoftheimpactthatthepaygapwithintheexecutiveteamonperformance.Thethirdpartistheempiricalanalysissection,withthelatestsampledataandindicators,toconst
7、ructmultiplelinearregressionmodel,usingSPSSstatisticalsoftwareforthecorrelation.Empiricalfindingsshowthatexecutivepaygapwithintheteamandcompanyperformancearesignificantlypositivelycorrelated,whilepresentingrangeeffect.Thefourthpartisagainsttheabove-menti