高管团队薪酬不公平程度及其对公司绩效的影响——基于安徽上市公司的经验分析  

Top Management Team Pay Inequity and Its Impact on Corporate Performance——Based on the Analysis of the Listed Companies in Anhui Province

作　　者：周泽炯[1,2] 史本山[1] 虞鲲[3] 

机构地区：[1]西南交通大学经济管理学院,四川成都610031 [2]安徽财经大学经济学院,安徽蚌埠233030 [3]安徽财经大学商学院,安徽蚌埠233030

出　　处：《华东经济管理》2014年第12期109-116,172,共9页East China Economic Management

基　　金：国家社会科学基金项目(11BJL056)

摘　　要：文章以安徽上市公司为例研究公司高管团队核心成员与非核心成员之间薪酬不公平程度及其对公司绩效的影响。首先,构建公司高管团队薪酬不公平程度指标,提出高管投入差异和薪酬不公平程度的研究假说。然后,运用2006-2012年安徽上市公司的非平衡面板数据,求出公司高管团队薪酬不公平程度并检验研究假说。最后,对安徽上市公司高管团队薪酬不公平程度和公司绩效之间关系进行了实证研究。研究结果显示,高管团队薪酬不公平程度和公司绩效之间关系处于倒"U"型曲线的上升区域,且接近倒"U"形曲线的顶点位置。The paper studies the pay gap between core members and non-core members of top management team and its im-pact on corporate performance based on the evidence from the listed companies in Anhui province. Firstly, it constructs theindicators of pay inequity of the company’s top management team and puts forward the research hypothesis of pay differenc-es and inequity. Secondly, using the non-balance panel data of listed companies in Anhui province during the year of 2006to 2012, it calculates the pay inequity of top management team and tests the research hypothesis. Finally, it carries out anempirical analysis on the relationship between the pay inequity of top management team and corporate performance of thelisted companies in the province. The results show that the relationship between them is in the rising area of the inverted “U” shaped curve, and closes to the vertex position of the “U” shaped curve.

关 键 词：高管团队 薪酬不公平程度 公司绩效 面板数据 

分 类 号：F272.92[经济管理—企业管理]