【摘要】：2009年10月30日,創(chuàng)業(yè)板市場開始運(yùn)行,給中國資本市場注入了新的活力。創(chuàng)業(yè)板上市公司具有較高的成長性和較高的科技性,在現(xiàn)代市場經(jīng)濟(jì)中地位已經(jīng)日益顯明,它已經(jīng)成為帶動經(jīng)濟(jì)發(fā)展的新的增長點(diǎn)。據(jù)調(diào)查顯示,創(chuàng)業(yè)板啟動僅一年的時間里,國內(nèi)創(chuàng)業(yè)投資公司、私募股權(quán)投資公司發(fā)展迅猛,活躍的私募股權(quán)投資公司和創(chuàng)業(yè)投資公司達(dá)到4789家,本土機(jī)構(gòu)管理資金達(dá)到1.64萬億元,國家級高新技術(shù)園區(qū)從54個增加到105個,吸引了大量海內(nèi)外人才加入創(chuàng)業(yè)隊(duì)伍。在創(chuàng)業(yè)板上市公司中,高層管理人員作為公司中重要的人力資源,他們的素質(zhì)和能力甚至代表整個公司,他們的行為對公司具有重要作用。據(jù)資料顯示,創(chuàng)業(yè)板上市公司高管離職現(xiàn)象自2010年從未間斷,從2010年年初創(chuàng)業(yè)板公司已經(jīng)發(fā)布170份高管辭職公告,這些高管辭職給創(chuàng)業(yè)板上市公司的股價都帶來了一定的影響。所以,在如何留住人才,如何更好地利用人才這一問題上,采取合理的高管激勵政策對創(chuàng)業(yè)板上市公司就顯得尤為重要,在高管激勵中,高管薪酬、在職消費(fèi)都發(fā)揮著舉足輕重的作用,因此,對創(chuàng)業(yè)板上市公司高管薪酬、在職消費(fèi)以及公司成長性的研究具有重要意義,既可以為理論研究提供一定思考也可以在實(shí)踐中進(jìn)行參照。 該論文在已有的研究基礎(chǔ)上,采用規(guī)范化和實(shí)證研究相結(jié)合的方法,研究了創(chuàng)業(yè)板上市公司高管薪酬、在職消費(fèi)與公司成長性之間的關(guān)系。 首先,文章對國內(nèi)外研究進(jìn)行了文獻(xiàn)綜述,并對國內(nèi)外高管薪酬、在職消費(fèi)、公司成長性的研究文獻(xiàn)進(jìn)行了評述,然后對高管薪酬、在職消費(fèi)、創(chuàng)業(yè)板市場以及公司成長性的概念進(jìn)行了界定,并對與本文研究相關(guān)的理論進(jìn)行了回顧。 其次,根據(jù)我國創(chuàng)業(yè)板上市公司的特殊性,建立了兩個模型,首先對模型的相關(guān)變量進(jìn)行了描述性統(tǒng)計(jì)分析,然后對各變量之間的相關(guān)性進(jìn)行了檢驗(yàn),最后對模型進(jìn)行回歸分析。經(jīng)過實(shí)證研究,結(jié)果表明：在我國創(chuàng)業(yè)板上市公司中,高管薪酬與在職消費(fèi)之間呈現(xiàn)顯著地正相關(guān)關(guān)系,高管薪酬與公司成長性之間存在顯著地正相關(guān)關(guān)系,在職消費(fèi)與公司成長性之間存在負(fù)相關(guān)關(guān)系。 最后,通過理論分析和實(shí)證分析得出了研究結(jié)論,為了更好地提高創(chuàng)業(yè)板上市公司的成長性,針對在研究中發(fā)現(xiàn)的創(chuàng)業(yè)板上市公司一些不足和問題提出了一些參考建議。
[Abstract]:On October 30, 2009, the gem market began to run, which injected new vitality into the Chinese capital market. Gem listed companies have high growth and high science and technology, in the modern market economy status has become increasingly clear, it has become a new point of growth to promote economic development. According to the survey, in the only one year since the gem was launched, domestic venture capital firms and private equity firms have developed rapidly, with 4789 active private equity and venture capital firms. The management fund of local institutions has reached 1.64 trillion yuan and the number of state-level high-tech parks has increased from 54 to 105, attracting a large number of talents from home and abroad to join the entrepreneurial team. In the gem listed companies, senior management is an important human resource in the company, their quality and ability even represent the whole company, their behavior plays an important role in the company. According to the data, the gem listed companies' executive turnover phenomenon has not stopped since 2010, since the beginning of 2010 gem companies have issued 170 executive resignation announcements, these executive resignation to gem listed companies have a certain impact on the stock price. Therefore, how to retain talent, how to make better use of talent, the adoption of a reasonable executive incentive policy on the gem listed companies is particularly important, in the executive incentive, executive compensation, On-the-job consumption plays an important role, therefore, it is of great significance to study the executive compensation, in-service consumption and corporate growth of gem listed companies. It can not only provide some thinking for theoretical research, but also can be referenced in practice. Based on the existing research, this paper studies the relationship between executive compensation, in-service consumption and corporate growth of gem listed companies by using the method of standardization and empirical research. First of all, the article reviews the domestic and foreign research literature, and reviews the domestic and foreign senior executive compensation, in-service consumption, corporate growth, and then the executive compensation, in-service consumption, The concept of gem market and company growth is defined, and the theories related to this paper are reviewed. Secondly, according to the particularity of the gem listed companies in China, two models are established. Firstly, the related variables of the model are analyzed by descriptive statistics, and then the correlation between the variables is tested. Finally, the regression analysis of the model is carried out. Through empirical research, the results show that: in China's gem listed companies, there is a significant positive correlation between executive compensation and in-service consumption, and there is a significant positive correlation between executive compensation and corporate growth. There is a negative correlation between on-job consumption and company growth. Finally, through theoretical analysis and empirical analysis, the research conclusions are drawn. In order to better improve the growth of gem listed companies, the paper puts forward some suggestions on the deficiencies and problems of gem listed companies found in the research.
【學(xué)位授予單位】：天津財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F272.92;F275;F832.51

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