东北大学学报（自然科学版）

东北大学学报(自然科学版) ›› 2012, Vol. 33 ›› Issue (7): 1052-1055.DOI: -

• 论著 • 上一篇    下一篇

我国高科技公司高管报酬决定性因素实证研究

刘烨;孙凡云;曾丽丽;张煜堃;   

  1. 东北大学工商管理学院;
  • 收稿日期:2013-06-19 修回日期:2013-06-19 发布日期:2013-04-04
  • 通讯作者: -
  • 作者简介:-
  • 基金资助:
    教育部人文社科规划基金资助项目(10YJA630103)

Study on the key factors of senior managers' compensation in high-tech companies

Liu, Ye (1); Sun, Fan-Yun (1); Zeng, Li-Li (1); Zhang, Yu-Kun (1)   

  1. (1) School of Business Administration, Northeastern University, Shenyang 110819, China
  • Received:2013-06-19 Revised:2013-06-19 Published:2013-04-04
  • Contact: Liu, Y.
  • About author:-
  • Supported by:
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摘要： 以2006~2008年,沪、深股市的高科技上市公司为样本,采用面板数据,检验高科技公司绩效、治理机制(控制权与现金流权的偏离程度、股权集中度、独立董事比例)与高管报酬的相关性.结果表明:高科技公司的企业绩效与高管报酬正相关;独立董事比率与高管报酬负相关.说明绩效仍是影响高管报酬的主要因素.同时,来自高科技公司外部董事的治理机制可以有效地解决高管层的"内部人控制"问题,降低企业的代理成本.

关键词: 高科技公司, 高管, 治理机制, 报酬, 偏离度

Abstract: Based on the high-tech companies of Shanghai and Shenzhen Stock Markets in 2006~2008, an empirical research was conducted on the relationship among performance, governance mechanisms and senior managers' compensation by adopting the panel data. The results indicated that there is a significant positive correlation between enterprise performance and senior managers' compensation, whereas the proportion of independent directors is negatively related to senior managers' compensation. It was suggested that enterprise performance is still a key factor determining senior managers' compensation. Moreover, the governance mechanisms from independent directors of high-tech companies tend to solve the problem of so-called insider control, and thus lower the agency cost.

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