理性预期模型及分配公平性度量:透视国企高管薪酬  

Rational Expectation Model and Measurement of Distributive Justice: Perspective on Executive Pay of State-owned Enterprises

作　　者：祁怀锦[1] 马俊峰[1] 

机构地区：[1]中央财经大学会计学院,北京100081

出　　处：《改革》2015年第10期101-112,共12页Reform

基　　金：教育部人文社会科学研究规划基金项目"国有企业财务分配公平与效率模型研究"(批准号:11YJA630084)

摘　　要：国有企业高管薪酬及其分配公平性是社会收入分配的重要内容。将宏微观因素纳入企业高管薪酬影响因素的分析范畴,表明国有企业和非国有企业高管薪酬影响因素既有共性又有差异。在此基础上,尝试性地构建了国有企业高管薪酬理性预期模型,进而以高管投入和所得为基础,设计出了国有企业高管薪酬分配公平性度量方法,并对国有企业高管薪酬分配公平性给予了度量。结果表明:国有企业高管薪酬分配存在不公平性,具体而言,个体不公平性程度相对较低,外部不公平性程度较为严重;利用理性预期模型进行薪酬分配,一定程度上可弱化高管薪酬分配的不公平性。Executive compensationfrom state-owned enterprises（SOEs） and its justification is a vital component of social income distribution. This paper tentatively brings macro and micro factors into influential factors of executive compensationfrom enterprises, these factors existing commonalities and differences. This paper aims to build a compensation model of rational expectations considering those factors above; furthermore, the author puts forward a method to measure the justification of the distribution of executive compensationfrom state-owned enterprises based on investment and income,and then measured the current justification in this method. The result is： the executive compensation distribution exists unfairness in SOEs, in particular, individual degree of unfairness is relatively low,external unfairness is worse. Using rational expectations compensation models, executive compensation allocation unfairness can be weakened to a certain extent.

关 键 词：国企高管薪酬 国有企业改革 全面深化改革 

分 类 号：F820.5[经济管理—财政学]