UK Vice Chancellor compensation: Do they get what they deserve?

The compensation received by UK Vice Chancellors (VCs) has been on an upward trend in recent years and attracted a lot of negative media attention. In this paper, we examine whether VCs receive the compensation they deserve. Using a panel dataset covering the academic years 2007/2008 to 2018/2019, we develop a model to predict expected VC compensation to determine whether VCs are over- or undercompensated. Our model finds that VCs are not overcompensated regarding their base salary, but some are overcompensated in terms of their benefits and pension contributions. However, there is very little difference in terms of characteristics of over- and undercompensated VCs, indicating that on average, UK VCs receive the compensation they deserve. For robustness purposes, we employ a variety of alternative model specifications and subsamples which all support our previous findings.     

薪酬激励对于企业创新的影响——锦标赛理论还是委托代理理论？

薪酬激励对企业创新影响的理论当前主要有基于薪酬差距的锦标赛理论和基于管理层薪酬的委托代理理论。本文利用我国非金融类A股上市公司数据,将薪酬差距和管理层薪酬结合起来研究发现,企业内部薪酬差距主要来自于管理层外部薪酬溢价,薪酬激励对创新产出的促进作用主要通过创新投入产生。无论从薪酬差距视角还是管理层薪酬视角,薪酬激励和企业创新之间的关系更加适合用委托代理理论而不是锦标赛理论解释。内部薪酬差距的扩大是否有利于企业创新尚需更加合理的数据和研究设计予以证实。