我国汽车制造业上市公司高管薪酬影响因素研究

发布时间：2018-08-30 09:44

【摘要】：激励问题长久以来都是众多学者和企业关注的焦点问题，现代企业大部分采用的是经营权与所有权相分离的管理模式，企业所有者聘请高级管理人员（以下简称高管）对企业进行管理，随之也就产生利益关系，伴随着利益关系的产生，矛盾的双方和高管的激励问题也就应运而生。随着全球经济的一体化，我国企业面临的竞争越来越激烈，高管人才成为最抢手的宝贵资源，高管在如何运用企业资源，如何促进企业可持续发展，拥有很强的创新能力和经营才能，因此成为企业发展的核心资源。在我国，证券市场越来越完善，上市公司越来越多，企业不断扩大经营规模，不断完善对公司的治理，因此就需要大量综合能力较强的高管人才来经营管理上市公司的各项活动，从而维护投资者与股东的利益。优秀的高管人才不仅能使企业获得较高的利润，还能够为企业的可持续发展打下坚实的基础。与此同时，随着对高管重要性意识的增强，如何合理地激励高管，促使高管从所有者的角度出发，不断提升企业的经营业绩和市场地位，达到双方共赢的目的，成为企业和众多学者最为关注的焦点问题。本文首先定义了上市公司高管、薪酬的概念，然后介绍了有关高管薪酬的基本理论，回顾了前人的实证研究结果，，然后根据互联网及年报披露的上市公司数据，对目前我国汽车制造业上市公司高管薪酬的现状进行了分析，并总结了其特点。在实证部分，样本为2008、2009、2010年国内汽车制造业的沪、深两地A股上市公司，借助SPSSl7.0软件运用多元线性回归模型对该行业高管薪酬影响因素进行了分析，得出以下结论：(1)公司绩效、公司规模、高管年龄、高管持股、两职兼任对汽车制造业上市公司的高管薪酬有影响。(2)未发现公司股权结构、公司所处地区、独立董事比例对该行业高管的薪酬有显著影响。
[Abstract]:The incentive problem has long been the focus of attention of many scholars and enterprises. Most of the modern enterprises adopt the management mode of separation of management right and ownership. The owner of the enterprise employs senior managers (hereinafter referred to as executives) to manage the enterprise, and with the emergence of the interest relationship, the problem of incentive between the two sides and the executives arises at the historic moment. With the integration of the global economy, Chinese enterprises are facing more and more fierce competition, the executive talents become the most popular valuable resources, how to use the enterprise resources, how to promote the sustainable development of enterprises. Has the very strong innovation ability and the management ability, therefore becomes the enterprise development core resources. In our country, the securities market is becoming more and more perfect, there are more and more listed companies, and enterprises are constantly expanding their business scale and improving their corporate governance. Therefore, a large number of executives with strong comprehensive ability are needed to manage the activities of listed companies, so as to safeguard the interests of investors and shareholders. Excellent executives can not only make a high profit, but also lay a solid foundation for the sustainable development of enterprises. At the same time, with the enhancement of the awareness of the importance of the senior executives, how to reasonably motivate the executives, from the owner's point of view, constantly improve the business performance and market position of the enterprise, to achieve the goal of win-win. Enterprises and many scholars are most concerned about the focus of the issue. This paper first defines the concept of executive and compensation of listed companies, then introduces the basic theory of executive compensation, reviews the results of previous empirical research, and then according to the data of listed companies disclosed on the Internet and annual reports, This paper analyzes the current situation of executive compensation of listed companies in automobile manufacturing industry in China, and summarizes its characteristics. In the empirical part, the sample is 2008 / 2009, the Shanghai and Shenzhen A-share listed companies in domestic automobile manufacturing industry in 2010, using SPSSl7.0 software to analyze the influencing factors of executive compensation in this industry, the following conclusions are drawn: (1) company performance; The size of the company, the age of the executives, the ownership of senior executives, and both positions have an impact on executive compensation for listed companies in the automotive manufacturing industry. (2) the equity structure of the company is not found, and the region where the company is located, the proportion of independent directors has a significant impact on the pay of executives in the industry.
【学位授予单位】：广西工学院
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F426.471;F832.51;F272.92;F224

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