财务风险、央企高管-员工薪酬差距与企业绩效  

Financial Risk,Executive-employee Compensation Gap and State-owned Key Enterprise'Performance

作　　者：张友礽 高宏[1] 

机构地区：[1]上海理工大学管理学院,上海200093

出　　处：《科技和产业》2016年第5期131-136,共6页Science Technology and Industry

摘　　要：有效的薪酬体系可以调动员工积极性,提升企业绩效,"限薪令"的出台引发了关于央企内部高管与普通员工悬殊薪酬差距的激烈讨论。以2009-2013年沪深两市A股央企制造业上市公司为对象进行研究,探讨高管-员工薪酬差距对公司绩效的影响,并考虑财务风险在其中的调节作用。研究结果表明,薪酬差距与企业绩效存在倒U型关系,而财务风险会显著弱化高管-员工薪酬差距对绩效的作用。因此,企业管理者只有将两者控制在合理范围内,才能更好地实现企业绩效的持续提升。Efficient compensation system can help to fully mobilize the enthusiasm of personnel as well as improve companies＇ performance.Because of the big compensation gap between executives and employees,the government issues a series of policy to limit the gap and this leads to a broad discussion.The paper brings,based on the data of listed state-owned manufacture companies from 2009 to 2013,to explore impacts of the compensation gap between top managers and ordinary employees on enterprise＇growth.At the same time,this article studies the role of financial risk plays in the gap and performance.The result shows that the relationship between compensation gap and performance is not lineal,but likes an inverse U curve.Besides,this research also finds that financial risk can significantly weaken the aforementioned relation.Therefore,managers should control them in a reasonable scope,which can avoid the adverse effect and achieve the sustainable growth.

关 键 词：薪酬差距 企业绩效 中央企业 财务风险 

分 类 号：F272[经济管理—企业管理]