会计信息质量对管理层薪酬激励的影响研究

利用我国A股上市公司2005年到2007年的管理层薪酬数据,检验了在不同的控股股东特征下会计信息质量对以薪酬业绩敏感度为特征表达的管理层薪酬激励的影响方式。结果显示,上市公司会计信息的质量特征对管理层的薪酬业绩敏感度产生了显著的负向影响,表明上市公司会依据会计信息反映的企业价值变化调整管理层薪酬。此外还进一步发现,控股股东会显著影响这一过程,具体表现为这种负向关系在政府机构控股时显著减弱,而在控股股东持股比例以及其他具有影响力的股东的制衡力提高时显著加强。

Research on the Effects of Accounting Earnings Quality on Managerial Compensation

The authors examine a sample of managers' compensation from Chinese listed companies from 2005 to 2007 and address two issues in this paper:how does the accounting earnings quality affects the PPS of managers? And consequently,how does the controlling shareholders related to this process? The evidence indicates that accounting earnings quality has negative effect on the PPS of managers from a whole view,which means the companies are tend to adjust the compensation of managers to the value changes instead of...