利益一致和利益冲突——高管团队薪酬差距的激励效应研究  

Interests Consistency and Interests Conflict——Research On The Incentive Effects of Executive Payment Gap

作　　者：朱芳芳[1] 

机构地区：[1]中国社会科学院研究生院,北京102488

出　　处：《经济与管理评论》2017年第4期153-160,F0003,共9页Review of Economy and Management

基　　金：国家自然科学基金项目"社会资本视角下上市公司终极股东控制与剥夺问题研究"(项目编号:71072072);国家自然科学基金项目"真实控制权;社会资本与上市公司终极股东剥夺行为研究"(项目编号:71372200)的阶段性成果

摘　　要：高管团队内薪酬差距的激励效应要考虑高团队本身的变化所产生的影响。以高管继任来源为切入点,对高管团队整合过程中的利益一致/冲突进行衡量,并观察其对高管薪酬差距及其激励效应所起到的作用。结果表明,高管团队存在利益冲突时,高管薪酬差距比高管团队利益一致时要小;高管团队利益一致时,高管薪酬差距与业绩显著正相关,支持锦标赛理论;高管团队利益冲突(与高管团队利益一致时相比)削弱了扩大薪酬差距以提升企业绩效的作用。本研究为完善上市公司高管团队建设提供了有益的理论支持。The incentive effect of the executive payment gap should concern the effect arising from team change. Taking the source of executive succession as a starting point, we measure conflict and harmony during the integration of top management team, and investigate whose impact on executive payment gap and incentive effects. The results show that the executive payment gap in conflicted teams is smaller than that in harmonious ones. The executive payment gap has a positive corelation with corporate performance while harmony exists in the top executive team, which supports tournament theory. Conflict in top management team alleviates the impact of executive payment gap on corporate performance. This paper provides theoretical support for perfecting corporate executive team construction.

关 键 词：继任来源 利益一致 利益冲突 薪酬差距 激励效应 

分 类 号：F275[经济管理—企业管理]