慈善捐赠对私营企业家薪酬—业绩敏感性的影响研究——基于企业异质性视角  

Effect of Philanthropy on Pay-performance Sensitivity of Private Entrepreneurs:From the Perspective of Firm Heterogeneity

作　　者：陈晓珊[1] CHEN Xiao-shan

机构地区：[1]暨南大学产业经济研究院

出　　处：《中国地质大学学报（社会科学版）》2017年第2期150-163,共14页Journal of China University of Geosciences(Social Sciences Edition)

摘　　要：基于2012年全国私营企业调查数据,实证研究了慈善捐赠对私营企业家薪酬—业绩敏感性的影响。研究发现:1)总体而言,私营企业慈善捐赠、企业绩效均与企业家的薪酬正相关,并且慈善捐赠有助于提高私营企业家的薪酬—业绩敏感性;2)基于企业异质性视角的分组讨论结果显示:慈善捐赠对私营企业家薪酬—业绩敏感性的提升效应仅发生于家族企业、小微型企业、东部地区企业、工商联的会员企业、无政治关联的企业、企业家年龄界于30~50岁的企业、开工率界于60%~100%之间的企业。本文的研究是对薪酬—业绩敏感性领域的有益补充,同时也有利于透视我国私营企业慈善捐赠背后的治理策略,对于推动我国私营企业慈善事业的发展以及企业治理机制的完善具有一定的政策含义。Based on the survey dataset from private firms in China in 2012,this paper explores how philanthropy affects private entrepreneurs＇pay-performance sensitivities.We find that：1）philanthropy of private firms and firm performance are positively related to the entrepreneur＇s compensation,and the donation helps to improve the private entrepreneur＇s pay-performance sensitivity;2）Discussion from the perspective of firm heterogeneity shows that the enhancing effect of philanthropy on private entrepreneurs pay-performance sensitivity only exists in family-firm,small-scale firm,firms in eastern region,member firms of Federation,non-political association firms and firms whose entrepreneur＇s age falls between 30-50,as well as firms whose operating rate is among 60%-100%.The study is not only a useful complement to the pay and performance sensitivity field,but also conductive to the management strategies behind philanthropy of private firms.In the mean time,it also serves to promote the development of Chinese private enterprises charity and improve the corporate governance mechanism.

关 键 词：慈善捐赠 薪酬—业绩敏感性 企业异质性 私营企业 

分 类 号：F276.5[经济管理—企业管理]