摘要
关于公司业绩与高管薪酬的关系,很难用一个简单的线性关系来解答。无论是委托代理理论、信号理论、激励理论,还是契约理论,都有诸多的假设前提;而利用上市公司数据的实证研究结论又依赖于数据样本、计量方法以及公司薪酬、业绩等代理变量;因而,无论是实证研究还是理论模型研究,对公司业绩与高管薪酬的关系都未有定论。在研究我国公司高管激励问题时,还应将经济制度、法制乃至人文环境加入激励模型。
The relationship between the executive compensation and the performance of the corporation is difficult to be answered by a linear relation. Trust-agent theory, signal theory, incentive theory and contract theory have many conjectures and premises, however, the empirical research conclusion by using the data of listed companies depends on data examples, calculating method and variables of corporate pay and performance, thus, whether empirical conclusion or theoretical models have no certainty on the relation between corporate performance and CEO pay. Research into China＇s CEO incentive should add economic institution, law and humanistic environment to incentive models.
出处
《重庆工商大学学报（西部论坛）》
2010年第1期101-108,共8页
Journal of Chongqing Technology and Business University:West Forum
关键词
高管薪酬
公司业绩
薪酬形式
委托代理理论
激励理论
契约理论
信号理论
executive compensation
performance of a company
form of compensation
trust-agent theory
incentive theory
contract theory
signal theory
