国企高管年薪制与股权激励对公司绩效的实证分析  

An Empirical Study on the Effect of Annual Salary and Equity Incentive on Corporate Performance in State-owned Listing Corporation

作　　者：谭军良[1] 

机构地区：[1]湖南大学经济研究中心,湖南长沙410079

出　　处：《湖南商学院学报》2012年第6期48-53,共6页Journal of Hunan Business College

基　　金：湖南省教育厅研究项目"基于人力资本理论的企业和谐分配机制研究"(11A063)的资助

摘　　要：本文以国有上市公司为研究样本,分析了高管人员年薪制激励和股权激励对公司绩效的积极影响。就两种不同的激励策略,运用Logit选择模型对样本进行估计,并用匹配得分法对两种激励方式与公司绩效进行匹配。研究显示,通过年薪制和股权分配对高管人员进行激励均对公司绩效产生积极影响,且这两种激励方式对公司绩效的贡献差异较大。This study,based on our state-owned listing Corporation,analyzes the company’s executives annual salary incentive and ownership incentive on firm performance in different contributions.In this paper,two different pairs of company performance has positive effect of the incentive strategy for the heterogeneity of treatment,using econometric model Logit selection model of sample estimates,and the matching score of two incentives and corporate performance matching.The results showed the salary system and stock distribution on the senior management incentive method to produce positive effect on corporate performance.However,this two kinds of incentive mean for state-owned listing Corporation performance contribution difference.

关 键 词：国有上市公司 年薪制 股权激励 公司绩效 

分 类 号：F713.5[经济管理—市场营销]