高管个体特征、薪酬外部不公平性与非效率投资——基于嫉妒心理视角的研究  

Manager Individual Characteristics,External Unfairness of Compensation and Inefficient Investment——The Research Based on the Perspective of Jealousy

作　　者：王嘉歆 黄国良[1] 

机构地区：[1]中国矿业大学管理学院,江苏徐州221116

出　　处：《山西财经大学学报》2016年第6期75-87,共13页Journal of Shanxi University of Finance and Economics

基　　金：国家社科基金项目(11BGL028);高等学校博士学科点专项科研基金(20110095110003)

摘　　要：在薪酬体制异化的现实背景和高管权力假说盛行的理论背景下,基于嫉妒心理学研究成果,研究高管薪酬外部不公平性对非效率投资影响。结果发现,我国上市公司高管薪酬外部不公平性促使高管产生黑色嫉妒心理,进而增加非效率投资。进一步研究发现,高管个体特征对两者相关关系具有显著调节作用。高管年龄、女性高管比例削弱了薪酬外部不公平性与过度投资的正相关关系,高管任期、过度自信则增强了薪酬外部不公平性与过度投资的正相关关系;高管任期增强了薪酬外部不公平性与投资不足的正相关关系,女性高管比例、乐观主义则削弱了薪酬外部不公平性与投资不足的正相关关系。Under the backgrounds of managerial compensation system distorted and manager power hypothesis prevailing, the paper investigates the relationship between external unfairness of managerial compensation and inefficient investment based on jealousy psycho logical research. The research finds show that external unfairness of compensation may breed managers＇ black jealousy psychology and result in the inefficient investment increasing. Further research shows that manager individual characteristics have significant positive regulations of the relationship. Specifically, manager age and the proportion of female managers weaken the relation of external unfairness of managerial compensation and over-investment, but manager tenure and overconfidence enhanced the relationship; manager tenure enhanced the relationship of external unfairness of managerial compensation and under- investment, but the proportion of female managers and manager optimism weaken the relationship.

关 键 词：薪酬外部不公平性 非效率投资 高管个体特征 嫉妒心理 

分 类 号：F276[经济管理—企业管理]