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页数:10页
时间:2017-07-26
《On the Use of Incentive Pay in Chinese State-owned Enterprises【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、原文:OntheUseofIncentivePayinChineseState-ownedEnterprises:TheRoleofHierarchyBodmer,Frank1.IntroductionAnimportantaimofChineseeconomicreformshasbeentheimprovementoftheincentivesinstate-ownedenterprises(SOEs).Beforereforms,workersenjoyedalmostabsolutejobsecurity.Wagesweretiedtoaseni
2、oritysystem,anddidnotdependoneffort.Thissystemhasbeenrelaxed,andithasatleastintheorybecomepossibletodismissworkers,ortotietheirsalarytotheirperformance.Mostprominently,workercompensationhasbeenmadedependentonresultsofenterpriseactivitysuchasprofitsortheattainmentofoutputtargets.T
3、hus,incentivesforworkerstocontributeeffortshouldhavebeenimproved.Also,theroleofthetopmanagerhaschanged.Whilehewasmainlyarecipientofordersbeforethebeginningofreforms,hehasstartedtoenjoyautonomyandresponsibilityforavarietyofdecisions.Theevidenceonthelaborreformsisgenerallyfairlypos
4、itive.Ithasbeenfoundthatbonuspaymentshaveastronglypositiveeffectonfirmproductivityandthereisevidenceforadevelopinglabormarketfortopmanagers.However,ithasalsobeenfoundthatthewagestructureremainedcompressedattheendofthe1980s.Thecompressedwagestructureissomethingofapuzzleifonethinks
5、thatwageshavebecomedependentonperformance.Inthiscase,onewouldratherexpectanincreasingwagedispersion.Thecompressedwagestructurealsocontradictstheideathatmanagershavebeengivenmoreresponsibilities.Certainly,theyhadtobecompensatedforthisincreasedresponsibility,toensurethattheyactedin
6、theinterestsofthefirm.Afurtherpuzzleishowthebonussystemprovedtobeassuccessfulasitapparentlywasgiventhewell-knownfree-riderproblemsofteamcompensation.Thepresentpaperinvestigatesthisapparentcontradiction.Itfindsthatbelowthesurfaceofafairlycompressedwagestructuremuchcanbefoundwhichf
7、ollowstheoriesofincentivepay.First,itisfoundthatthesensitivityofpaytoperformanceishigherforhigherlevelsofthehierarchy.Second,evidenceisfoundthattheInternalSalarySystem—asystemofintra-firmcontracts—hasbeenimportantinprovidingintra-firmcontrolandtherebyimprovingincentives.Byincreas
8、ingthetransparencyandreducingthemonitori
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