高管薪酬效应:研究进展与未来方向  

The Consequences of Executive Compensation:Literature Review and Research Agenda

作　　者：张三保[1] 康璧成 Sanbao Zhang;Bicheng Kang(Economics and Management School,Wuhan University)

机构地区：[1]武汉大学经济与管理学院

出　　处：《管理学季刊》2020年第1期107-129,139,共24页Quarterly Journal of Management

基　　金：国家自然科学基金“微观企业腐败的宏观制度诱因、作用机制与控制策略”(71402129);中央高校基本科研业务费武汉大学人文社科自主科研项目“中国营商环境、战略领导与企业不端行为:边界、机制与治理”资助。

摘　　要：基于Devers等(2007)对高管薪酬前因与效应的回顾,本文致力于整合管理、金融和会计等多学科视角,从个体、企业和环境等多层次主体,梳理近十年来(2008~2018年)高管薪酬效应研究的新进展,并为未来研究方向提供建议。我们首先从前述学科32本中外重要期刊中遴选出143篇主题相关文章,回顾并比较近十年来中英文研究进展。随后,阐释了高管薪酬结构在个体、企业和环境三个层.次的效应,归纳出薪酬差距在纵向和横向两个维度的效应,并总结出高管薪酬效应.的边界条件。之后,考察了中国情境下高管薪酬效应研究的特殊性。最后,基于文献述评,构建出高管薪酬效应的一个系统性分析框架,并结合中国情境,指出了潜在的探索领域。The relationship between executive compensation and performance has attracted significant amount of attention from both academia and practitioners for a long time.Gomez-Mejia and Wiseman(1997)have called for research on executive compen-sation to integrate views from other disciplines such as accounting,economics,and finance.The differences across disciplines pro-vide a variety of perspectives for understanding executive compensation,but they also raise the difculty of reviewing the literatures.Devers et al.(2007)reviewed studies on executive compensation from 1997 to 2007,and they developed a framnework for analyzing antecedents and consequences of executive compensation.Based on Devers et al.'s(2007)multi-disciplinary work on excutive compensation,we review the research progess of the consequences of excutive compensation in the past decade(2008-2018)from multiple levels and disciplines and aim to answer the fllowing three questions:First,what are the consequences of two forns of executive compensation,compensation structure and gap,on individual-,firm-and environment levels,respectively?Second,what are boundary conditions for the above effects?Third,basing on existing explorations on effects and their moderating roles of executive compensation,and considering the unique context in China,what is the research agenda in the future?In order to answer the above questions,we first collect relevant papers that have been published in 32 major joumals both in English and Chinese from 2008 to 2018,and sort out these papers by topics.Second,we summarize the consequences of compensa-tion structure from an individual,organizational and environmental levels,respectively,and effects of compensation gap from a ver-tical and horizontal dimensions,and boundary conditions of the above ffects.Finally,we summarize existing research and explore effect of executive compensation in the Chinese context,including a specifie institutional background such as the“duality”of state-owned enterprises and an economic transition process.We

关 键 词：高管薪酬 薪酬效应 薪酬结构 薪酬差距 中国情境 

分 类 号：F272.92[经济管理—企业管理]