本文選題：上市公司 + 高管薪酬��； 參考：《遼寧大學(xué)》2012年碩士論文

【摘要】：1932年，美國制度學(xué)派的伯利和米恩斯經(jīng)過多年研究，共同出版了《現(xiàn)代公司與私有財產(chǎn)》一書。此書從企業(yè)權(quán)力結(jié)構(gòu)和掌權(quán)人的經(jīng)濟(jì)地位兩個角度出發(fā)，對二者進(jìn)行了分析，它所強(qiáng)調(diào)的是法律制度和法律形式對于企業(yè)所有權(quán)和經(jīng)營方式變化的作用。此著作讓越來越多的人認(rèn)識到了目前較為普遍的委托代理關(guān)系，既公司的治理結(jié)構(gòu)中的不同行為主體間的關(guān)系，并在隨后的數(shù)十年內(nèi)迅速發(fā)展，尤其是20世紀(jì)90年代以后，這種關(guān)注逐步成為了一種理論，既委托代理理論。隨著委托代理理論的發(fā)展，其應(yīng)用范圍已從最初的僅限于對企業(yè)的分析變的更為廣泛，即便如此，在實(shí)際的應(yīng)用中，該理論的最主要用途仍然是針對企業(yè)利益相關(guān)者的委托代理分析。 本文運(yùn)用規(guī)范分析與實(shí)證分析相結(jié)合的方法，首先對國內(nèi)外高管薪酬問題的相關(guān)文獻(xiàn)進(jìn)行了回顧和評價。分別從錦標(biāo)賽理論和行為理論的角度對高管薪酬與公司績效的相關(guān)性進(jìn)行了理論分析。進(jìn)而對2008-2010年我國高管薪酬現(xiàn)狀作了描述性統(tǒng)計分析，發(fā)現(xiàn)我國高管薪酬差距與公司績效的關(guān)系受到公司規(guī)模和行業(yè)差異的影響。在此基礎(chǔ)上選取2008-2010年140家上市公司作為研究對象，結(jié)合上市公司規(guī)模、地區(qū)和行業(yè)等多重因素，提出了兩個假設(shè)。選取高管薪酬、公司績效、公司規(guī)模、公司資本結(jié)構(gòu)、地區(qū)和行業(yè)等變量建立多元線性回歸模型，進(jìn)行相關(guān)性分析和回歸分析。 本文第一部分為緒論部分主要介紹本文的研究背景、研究意義、研究思路及方法，概括總結(jié)國內(nèi)外學(xué)者的主要研究觀點(diǎn)；第二部分為理論研究和現(xiàn)狀分析部分，，首先，闡述了薪酬差距的兩大理論基礎(chǔ)－錦標(biāo)賽理論和行為理論。其次，界定了高管團(tuán)隊(duì)內(nèi)部薪酬差距和公司績效的相關(guān)概念。再次，對我國上市公司近幾年高管團(tuán)隊(duì)內(nèi)薪酬差距數(shù)據(jù)進(jìn)行了描述性統(tǒng)計，總結(jié)出上市公司高管團(tuán)隊(duì)內(nèi)薪酬差距的現(xiàn)狀；第三部分是實(shí)證分析部分，通過最新樣本數(shù)據(jù)的選擇和變量指標(biāo)的選取，構(gòu)建模型，運(yùn)用SPSS統(tǒng)計軟件對高管團(tuán)隊(duì)內(nèi)薪酬差距和公司績效進(jìn)行相關(guān)性研究；第四部分主要針對上述理論和實(shí)證分析結(jié)果，概括研究結(jié)論，從合理安排高管團(tuán)隊(duì)內(nèi)薪酬差距、加強(qiáng)公司治理等五個方面提出了政策建議，最后還對未來的研究進(jìn)行了展望。 結(jié)論顯示公司績效與高管薪酬存在顯著的正相關(guān)關(guān)系。影響公司績效的因素中，公司績效與公司規(guī)模呈正相關(guān)關(guān)系，與公司所處行業(yè)存在顯著的負(fù)相關(guān)關(guān)系。
[Abstract]:In 1932, Burleigh and Maines of the American Institution School published Modern Corporation and Private property after many years of research.This book analyzes the power structure of the enterprise and the economic status of the person in power. It emphasizes the function of the legal system and the legal form on the change of the enterprise's ownership and management mode.This work has made more and more people realize the common principal-agent relationship, that is, the relationship between the different actors in the corporate governance structure, and it developed rapidly in the following decades, especially after the 1990s.This concern has gradually become a theory, namely principal-agent theory.With the development of principal-agent theory, its application scope has become more extensive from the original analysis to the enterprise, even so, in the practical application,The principal use of this theory is still the principal-agent analysis for corporate stakeholders.By combining normative analysis with empirical analysis, this paper reviews and evaluates the literature on executive compensation at home and abroad.From the perspective of tournament theory and behavior theory, the correlation between executive compensation and corporate performance is analyzed theoretically.Then it makes a descriptive statistical analysis of the current situation of executive compensation in China from 2008 to 2010, and finds that the relationship between executive compensation gap and corporate performance is affected by the company size and industry differences.On the basis of this, 140 listed companies from 2008 to 2010 were selected as the research objects, and two hypotheses were put forward according to the multiple factors such as the size, region and industry of listed companies.Selecting the variables such as executive compensation, corporate performance, company size, corporate capital structure, region and industry, to establish a multivariate linear regression model, to carry out correlation analysis and regression analysis.The first part of this paper is the introduction part mainly introduces the research background, the research significance, the research thought and the method, summarizes the domestic and foreign scholar's main research viewpoint; the second part is divided into the theory research and the present situation analysis part, first,This paper expounds the two theoretical bases of salary gap-tournament theory and behavior theory.Secondly, it defines the internal pay gap and the related concepts of corporate performance.Thirdly, the paper makes descriptive statistics on the pay gap in the executive team of listed companies in China in recent years, and summarizes the current situation of the pay gap in the executive team of listed companies. The third part is the empirical analysis part.Through the selection of the latest sample data and the selection of variable indicators, this paper constructs a model, using SPSS statistical software to study the correlation between the executive team pay gap and corporate performance. The fourth part mainly focuses on the above theoretical and empirical analysis results.Summarize the conclusion of the study, from the rational arrangement of executive team pay gap, strengthen corporate governance and other five aspects of the policy recommendations, and finally the future of the study is prospected.The conclusion shows that there is a significant positive correlation between corporate performance and executive compensation.Among the factors affecting corporate performance, corporate performance has a positive correlation with company size and a significant negative correlation with the industry in which the company is located.
【學(xué)位授予單位】：遼寧大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F272.92;F275;F832.51;F224

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