摘要
高层管理者薪酬结构对公司绩效有重要影响。本文从高层管理者薪酬结构特别是股权激励结构的角度出发,研究股权激励与公司绩效的相关关系,利用计量经济学分析方法构建回归模型,对2009～2011年上市公司的数据进行实证分析。研究发现高管持有股权和期权占其总薪酬比率偏低,而该比率对公司每股收益存在显著的倒U型影响,现阶段中国上市公司管理层薪酬结构有待优化。
The top-management＇s salary structure plays spective of the top-management＇s salary structure especially an important role in the company performance. From the per- the equity incentive structure, this paper mainly investigates the relationship between equity incentive and company performance. Based on applies to econometric methods and sets up a regressive model,proving that the top-management is lower. But the rate has inverted U-shape effect on the firm＇s system of top-management＇s compensation is still to be further optimized the data from 2009 to 2011, the paper percentage of shares and options held by earnings per share. Therefore, the present
出处
《经济与管理研究》
CSSCI
北大核心
2013年第2期5-11,共7页
Research on Economics and Management
基金
教育部人文社会科学研究青年基金项目"民营资本进入垄断产业后的规制
治理与救助机制研究"(10YJC790055)
北京市教委科研计划立项项目"大部制下中国垄断产业规制体系构建与机制设计研究"(SM201110038006)
关键词
高级管理人员
股权激励结构
每股收益
回归分析
Top-management
Equity Incentive Structure
Earnings Per Share
Regressive Analysis
