| 经理人报酬与公司业绩之间的相关性检验 |
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| 引用本文： | 孙世敏,赵希男.经理人报酬与公司业绩之间的相关性检验[J].商业研究,2006(2):83-86. |
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| 作者姓名： | 孙世敏 赵希男 |
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| 作者单位： | 东北大学,工商管理学院,辽宁,沈阳,110004 |
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| 基金项目： | 国家高技术研究发展计划项目,项目编号:863-9803-05 |
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| 摘 要： | 以我国上市公司2000、2001、2002年年报数据为主要分析对象,运用线性回归的方法对经理人报酬与公司资本成本及公司业绩之间的相关性进行实证研究,并得出如下结论:经理人报酬与ROA呈显著的线性相关性,与ROE、△SMVA非线性相关,与SEVA存在较强的线性相关性。通过实证研究,还发现经理人报酬主要激励当前业绩和未来业绩,当期激励效果直接影响下期业绩水平。
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| 关 键 词： | 经理人报酬 资产报酬率 权益报酬率 经济增加值 市场增加值 |
| 文章编号： | 1001-148X(2006)02-0083-03 |
| 收稿时间： | 11 29 2004 12:00AM |
| 修稿时间： | 2004年11月29 |
The Relationship Between Executive Compensation and Corporate Performance of Companies |
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| SUN Shi-min,ZHAO Xi-nan.The Relationship Between Executive Compensation and Corporate Performance of Companies[J].Commercial Research,2006(2):83-86. |
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| Authors: | SUN Shi-min ZHAO Xi-nan |
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| Institution: | School of Business Management, Northeastern University, Shenyang, Liaoning 110004, China |
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| Abstract: | Considering the listed companies annual reports in the year of 2000、2001 and 2002,the paper analyzes the relationship between executive compensation and the cost of capital and the performance by means of linear regression.It concludes that executive compensation has strong linear relationship with ROA,and even a stronger linear relationship with SEVA while having no linear relationship with ROEor,△SMVA.It is found by practical researches that executive compensation encourages current and future performance and current incentive effect is closely connected with their future performance. |
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| Keywords: | executive compensation assets return equity return economic value added market value added |
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