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Study on the Correlation of Senior Executive Compensation and Company Performance
Author: XiaYu
Tutor: PengZuo
School: Southwestern University
Course: Accounting
Keywords: Corporate Performance Executive pay Compensation - Performance
CLC: F272
Type: Master's thesis
Year: 2010
Downloads: 872
Quote: 6
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Abstract
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With the continuous development of China 's market economy , the separation of ownership and management rights of the modern enterprise control the senior management of the enterprise resource incentive pay increasing attention . Due to information asymmetry between owners and company executives , leading to a risk of moral , adverse selection problems . How to make the executives to enable enterprises to meet their own interests at the same time maximize the value ultimately achieve a win-win situation , many scholars of concern . In this paper, a method of combining normative analysis and empirical analysis , the first review and evaluation of the literature on executive compensation issues at home and abroad . From the principal-agent theory , incentive theory , the point of view of the theory of human capital theory analysis of executive pay and company performance . Turn made ??a descriptive statistical analysis of the status quo of China 's executive compensation in 2006-2008 , found that executive pay in China there are regional and industry differences , the low proportion of executive stock ownership and other issues . Selected based on 2006-2008 666 listed companies as the object of study , combined with the analysis of influencing factors on executive pay , seven assumptions . Selected executive pay and company performance , executive stake , the size of the company , the equity balance degree , the proportion of state-owned shares , regional and industry variables such as the establishment of a multiple linear regression model , correlation analysis and multiple linear regression analysis . The empirical results show a significantly positive correlation between company performance and executive compensation exist , there is no significant positive correlation between company performance and executive stake . Factors that affect executive compensation , executive compensation and corporate performance , the size of the company , the equity balance degree , executives shareholding proportion of the existence of a significant positive correlation with the proportion of state-owned shares are negatively related . It can be seen that the basic formation of \According to the empirical conclusion , this paper presents : establishing reasonable executive compensation evaluation mechanisms , the perfect executive pay structure, and improve executive compensation oversight mechanisms to improve transparency in executive pay policy recommendations . Finally, analysis of the limitations and shortcomings of this research study later improved .
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CLC: > Economic > Economic planning and management > Enterprise economy > Enterprise planning and management decision - making
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