经济集聚对管理者薪酬的影响及机制研究  

Research on the lnfluence and Mechanism of Economic Agglomeration on Managers’ Compensation

作　　者：郝颖 刘刚 魏紫[2] 李俊仪 HAO Ying;LIU Gang;WEI Zi;LI Junyi(Business School,Beijing Normal University;School of Accountancy,Central University of Finance and Economics)

机构地区：[1]北京师范大学经济与工商管理学院 [2]中央财经大学会计学院

出　　处：《数量经济技术经济研究》2023年第3期150-167,共18页Journal of Quantitative & Technological Economics

基　　金：国家自然科学基金项目(71872017,71872014,72102209)的资助。

摘　　要：本文从企业地理经济特征的视角,考察了大城市经济集聚对管理者薪酬增速及结构的影响。研究发现,城市的经济集聚程度越强,辖区内企业管理者薪酬的动态增速越快,并且薪酬结构中股权激励的比重越大,在使用企业迁址冲击、DID模型以及Bartik工具变量来解决内生性问题后结论依然稳健。进一步研究表明,学习机制、匹配效应与信息共享,是大城市经济集聚提高管理者薪酬增速和股权激励比重的三条微观作用途径,并且,这三种途径还存在着彼此之间的双向促进关系。此外,在经济活动集聚的大城市,侧重于股权激励的薪酬结构设置对管理者跳槽离职的约束效应更强。本文有助于理解中国不同地区管理者薪酬差距背后的深层次原因,丰富了管理者薪酬特征的地理经济解释,并为认识区域协调发展、高质量发展区域经济布局提供了一个新的微观视角。One of the most significant empirical facts of human economic and social development is that core production factors,such as labor,capital,and technology,are constantly concentrated in certain geographical regions,and economic activities are relatively concentrated in large cities,of which China is no exception.During more than 40 years of the reform and opening-up,the geographical economy has gradually experienced a remarkable agglomeration feature,and megacities with a population of more than 10 million,such as Beijing,Shanghai,Guangzhou,and Shenzhen,have emerged one after another.Under this realistic background,the report of the 20th National Congress of the Communist Party of China put forward the goal and task of accelerating the transformation of the development mode of megacities.Its regional economic layout with high-quality development is becoming more and more important for macroeconomic growth and micro enterprises.Through an in-depth analysis of geographical economics,many studies have demonstrated that large cities can fully release the positive externalities of economic agglomeration and improve the economic productivity of regions,enterprises,and employees,leading to a wage gap between regions.As a landmark group in the enterprises’ human resources,the geographical and economic characteristics of managers have a more direct impact on their salaries,and there is also a large salary gap between different regions.However,the regional gap in managers’ compensation does not simply come from the static comparison of fixed compensation but is more likely the common result of the dynamic accumulation of compensation levels and the difference in the distribution of compensation structures.Therefore,it is essential for us to explore the micro-formation mechanism of managers’ salary growth rate and structural differences at the enterprise level and further deepen research on the geographical and economic characteristics of enterprises in the field of managers’ incentives.The most powerful micro explan

关 键 词：经济集聚 管理者薪酬 薪酬增速 薪酬结构 股权激励 

分 类 号：F275.5[经济管理—企业管理]