美国高管薪酬追回制度最新发展与启示

发布时间：2018-06-19 14:57

本文选题：公司高管 + 追回条款　；参考：《江淮论坛》2017年03期

【摘要】：公司高管薪酬追回制度是在股权激励改革、财务重述频发之背景下对高管行为的一种约束,以一定事项发生为条件(通常是财务重述),追回高管们基于错误财务信息虚增薪酬的制度。依据2015年7月SEC发布的《薪酬追回的上市标准》征求意见稿及2010年之后美国地方法院和巡回上诉法院相关判例,美国公司高管薪酬追回制度将会强制覆盖所有上市公司,触发条件也更加严格。高管薪酬追回制度的理论基础是民法的"不当得利"制度,其实施有利于提高财务报告质量、改善公司治理,但同时也会增加上市公司、证券交易机构等与之相关主体的运营成本。
[Abstract]:Executive compensation recovery system is a kind of restriction on executive behavior under the background of equity incentive reform and frequent financial restatement. Subject to the occurrence of certain events (usually financial restatements), recovery of executives based on false financial information false pay system. According to the Securities and Exchange Commission's draft of the listing criteria for compensation recovery published in July 2015 and the relevant jurisprudence of the United States District Court and Circuit Court of Appeals after 2010, the compensation recovery system for top executives in US companies will be mandatory to cover all listed companies. The trigger conditions are also more stringent. The theoretical basis of executive compensation recovery system is the "unjust enrichment" system of civil law. Its implementation is conducive to improving the quality of financial reporting and improving corporate governance, but it will also increase the number of listed companies. The operating costs of the relevant entities such as securities trading institutions.
【作者单位】：中国人民大学博士后科研流动站;合肥学院经济系;
【基金】：安徽省高校社科重点基地项目(SK2015A013) 安徽省优秀人才支持项目(gxyq ZD2016267)
【分类号】：D971.2;DD912.29

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