林业上市公司股权集中度、高管激励与经营绩效关系的实证研究

发布时间：2018-02-28 19:47

  本文关键词： 林业上市公司 股权集中度 高管激励 经营绩效　出处：《林业经济问题》2017年02期 　论文类型：期刊论文

【摘要】：选取2010~2015年的12家林业上市公司的财务数据为研究样本,运用结构方程模型的研究方法探寻林业上市公司股权集中度、高管激励对经营绩效作用路径以及变量之间的效应关系。研究结果表明:股权集中度对经营绩效具有直接的显著的正向影响,高管激励对经营绩效具有直接的显著的正向影响,且股权集中度同时通过高管激励的中介作用间接地显著地影响经营绩效;股权集中度对经营绩效影响的直接效应为0.22,高管激励对经营绩效影响的直接效应为0.28,股权集中度对经营绩效影响的间接中介效应为0.06。基于研究建议建立大股东股权制衡的股权集中度结构和提高高层管理者的收入水平。
[Abstract]:The financial data of 12 forestry listed companies from 2010 to 2015 were selected as the research samples, and the ownership concentration of forestry listed companies was explored by using the structural equation model. The research results show that the ownership concentration has a direct and significant positive impact on the operating performance, and the executive incentive has a direct and significant positive impact on the operating performance. At the same time, equity concentration indirectly and significantly affects business performance through the intermediary role of executive incentive; The direct effect of ownership concentration on business performance is 0.22, the direct effect of executive incentive on business performance is 0.28, and the indirect intermediary effect of ownership concentration on operating performance is 0.06.Based on the research recommendations, the establishment of large shareholder shares. Power checks and balances of ownership concentration structure and improve the income level of senior managers.
【作者单位】： 福州外语外贸学院工商系;福建农林大学管理学院;福州外语外贸学院金融系;福建农林大学经济学院;
【分类号】：F302.6;F326.25;F832.51
，

本文编号：1548697