高管薪酬对我国中小上市企业盈利能力的影响研究

发布时间：2018-06-28 01:01

本文选题：中小上市企业 + 高管薪酬　；参考：《湖南工业大学》2014年硕士论文

【摘要】：在这个知识经济时代，，随着市场竞争的日趋激烈，人才的竞争直接关系到企业的核心竞争力，而作为企业核心决策层的高级管理者则直接影响到企业的健康成长。进而如何对他们实施有效的激励措施来实现企业利益最大化的问题也就自然成为社会各界讨论的热点话题。本文就其一个支点，以2010-2012年深圳交易所中小板上市企业的数据为研究样本，对我国中小上市企业高管薪酬对盈利能力的影响进行实证研究。首先，阐述了我国中小上市企业对盈利能力影响的研究背景，指出进行该研究的必要性；通过阅读和整理大量文献资料，对国内外相关研究成果进行了梳理和总结，理清了研究思路和研究方法。其次，介绍了我国中小上市企业、高管薪酬以及企业盈利能力的相关概念；阐述了我国中小上市企业高管薪酬对盈利能力影响研究的相关理论基础；并通过描述性统计对我国中小上市企业的高管薪酬和企业盈利能力的现状做了分析。再次，在理论研究的基础上，提出了相应的研究假设，并据以进行了相关的变量设计和模型构建；利用因子分析、回归分析和独立样本T检验等统计方法将数据样本代入进行实证研究。得到的研究结果显示：我国中小上市企业的盈利能力与高管年薪有显著的正向相关关系，与高管持股比例没有显著的相关关系；我国中小上市企业的高管薪酬在不同的股权集中度下没有表现出显著的差异性。最后，根据研究结论，结合我国中小板上市企业自身的特征提出相关政策建议，主要建议如下：设计科学合理的薪酬考核制度，并增加其透明度；短期激励和长期激励相结合，完善高管薪酬激励机制；控制适当的股权集中度；完善中小上市企业的公司治理结构，加强企业内部监督机制；优化资本市场环境，改革和完善相关的法律和法规。
[Abstract]:In this era of knowledge economy, with the increasingly fierce competition in the market, the competition of talents is directly related to the core competitiveness of enterprises, and the senior managers as the core decision-making level of enterprises directly affect the healthy growth of enterprises. Then how to implement effective incentive measures to maximize the interests of enterprises has naturally become a hot topic of social discussion. Based on the data of small and medium-sized listed enterprises in Shenzhen Stock Exchange from 2010 to 2012, this paper makes an empirical study on the effect of executive compensation on profitability of small and medium-sized listed enterprises in China. First of all, it expounds the research background of the impact of small and medium-sized listed enterprises on profitability, points out the necessity of the research, through reading and sorting out a large amount of literature, combs and summarizes the relevant research results at home and abroad. The research ideas and methods are clarified. Secondly, it introduces the related concepts of the small and medium-sized listed enterprises, the executive compensation and the profitability of the small and medium-sized listed enterprises, and expounds the relevant theoretical basis of the research on the influence of the executive compensation on the profitability of the small and medium-sized listed enterprises in our country. Through descriptive statistics, the paper analyzes the current situation of executive compensation and profitability of small and medium-sized listed enterprises in China. Thirdly, on the basis of theoretical research, the corresponding research hypotheses are put forward, and the relevant variable design and model construction are carried out. Statistical methods such as regression analysis and independent sample T test substitute data samples for empirical research. The results show that: the profitability of small and medium-sized listed enterprises in China has a significant positive correlation with the annual executive salary, and there is no significant correlation with the proportion of executive ownership; There is no significant difference in executive compensation of small and medium-sized listed enterprises under different ownership concentration. Finally, according to the conclusions of the study, combined with the characteristics of small and medium-sized listed enterprises in China, the relevant policy recommendations are put forward. The main suggestions are as follows: design a scientific and reasonable salary assessment system and increase its transparency; combine short-term incentive with long-term incentive. Improve the incentive mechanism of executive compensation; control the appropriate concentration of equity; improve the corporate governance structure of small and medium-sized listed enterprises, strengthen the internal supervision mechanism of enterprises; optimize the capital market environment, reform and improve the relevant laws and regulations.
【学位授予单位】：湖南工业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51;F272.92

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