管理层能力、权力特征与薪酬差距  

Managerial Ability,Power Characteristics Power and Compensation Gap

作　　者：陈德球[1] 步丹璐[2] 

机构地区：[1]对外经济贸易大学国际商学院,北京100029 [2]西南财经大学会计学院,四川成都611130

出　　处：《山西财经大学学报》2015年第3期91-101,共11页Journal of Shanxi University of Finance and Economics

基　　金：国家自然科学基金面上项目"政策不确定性;市场竞争与资本配置效率"(71372060);国家自然科学基金青年项目"家族企业控制权配置的内生决定及其经济后果"(71102076);国家自然科学基金海外及港澳学者合作研究基金"晋升机会;高管行为和公司效率"(71428008)

摘　　要：学术界关于企业内部薪酬差距与企业业绩关系的研究并没有一致的结论。锦标赛理论与行为理论并没有考虑薪酬差距产生的原因,忽略薪酬差距形成的原因可能会导致对薪酬差距与企业业绩关系的实证结果的偏误。本文基于2005～2012年中国沪深两市上市的10727个A股公司研究样本,从管理层能力和管理层权力两个角度分析企业内部薪酬差距形成的原因,结合薪酬差距的形成原因,对薪酬差距与企业业绩的关系进行分析。研究发现,管理层能力和权力都会增加企业内部薪酬差距,管理层能力导致的薪酬差距对企业业绩有显著的积极影响,管理层权力导致的薪酬差距对企业业绩有显著的负面影响。There is still no conclusion about the effect of compensation gap on corporate performance. Both tournament theory and be- havior theory do not consider the effect of the cause of compensation gap on corporate performance. It may lead us to misunderstand the empirical results of the effect of compensation gap on corporate performance, if we ignore the cause of compensation gap. In this paper, we analyze the cause of compensation in the perspective of managerial ability and managerial power and study the effect of compensation gap on corporate performance with the different cause of compensation gap, based on 10727 A-share listed companies in China frem.2005 to 2012, in order to make a beneficial exploration on the research of the economic consequence of compensation gap. The study finds that the com- pensation gap caused by managerial ability has a significant positive effect on corporate performance and the compensation gap caused by managerial power has a significant negative effect on corporate performance.

关 键 词：管理层能力 管理层权力 薪酬差距 企业业绩 

分 类 号：F270[经济管理—企业管理]