环境不确定性、女性董事与高管内部薪酬差距  

Environment Uncertainty,Female Directors and Executive Internal Pay Gap

作　　者：吕英[1] 李汇益 陈姝[2] LV Ying;LI Huiyi;CHEN Shu(School of Economics and Management,Lanzhou University of Technology,Lanzhou 730000,China;Business School,Xi an International Studies University,Xi an 710128,China)

机构地区：[1]兰州理工大学经济管理学院,甘肃兰州730000 [2]西安外国语大学商学院,陕西西安710128

出　　处：《财经论丛》2022年第8期91-101,共11页Collected Essays on Finance and Economics

基　　金：国家自然科学基金项目(71762022)。

摘　　要：高管内部薪酬差距一直是公司治理领域的热点问题。本文基于委托代理和同性社交繁殖理论实证分析了女性董事对高管内部薪酬差距的治理作用。研究发现,女性董事对高管内部薪酬差距以及高管性别薪酬差距存在显著抑制作用;相较于国有企业,女性董事对高管内部薪酬差距和高管性别薪酬差距的抑制作用在非国有企业中更显著;环境不确定性越大,女性董事对高管内部薪酬差距和高管性别薪酬差距的抑制作用越显著;进一步考虑企业性质和环境的叠加影响,伴随环境不确定性的增大,女性董事对高管内部薪酬差距和高管性别薪酬差距的抑制作用在非国有企业中更显著。研究结论有助于从薪酬治理的视角深化对女性董事参与公司治理效果的认知,尤其为应对环境不确定性的公司治理挑战提供了实践指导。The internal pay gaps of executives have always been hot issues in the field of corporate governance.Based on principal-agent theory and same-sex social reproduction theory,this paper empirically analyzes the governance effect of female directors on the internal executive pay gap.The study that female directors have a significantly negative effect on executive internal pay gap and executive gender pay gap.Compared with state-owned enterprises,female directors have a more significantly negative effect on executive internal pay gap and executive gender pay gap in non-state-owned enterprises.With the increase of environment uncertainty,female directors have more significantly negative effect on the internal pay gap of executives and the gender gap of executives.Taking the overlapping influence of enterprise nature and environment into further consideration,with the increase of environmental uncertainty,the negative effect of female directors on executives internal pay gap and executives gender pay gap is more significant in non-state-owned enterprises.The conclusion of this study is helpful to deepen the cognition of the effect of female directors participation in corporate governance from the perspective of compensation governance,especially to provide practical guidance for corporate governance challenges with environmental uncertainty.

关 键 词：女性董事 高管内部薪酬差距 高管性别薪酬差距 环境不确定性 

分 类 号：C913.68[经济管理] F832.51[社会学] F272.92