内部薪酬差距与公司绩效--基于上市公司的实证研究

本文以2007-2010年A股上市公司为研究样本，研究在不同的环境下，高管团队与普通员工的薪酬差距对公司绩效的影响。研究发现：高管团队与普通员工的薪酬差距对公司绩效起促进作用。锦标赛理论成为近年来解释我国上市公司内部薪酬差距对公司绩效影响的有效理论。随着企业员工薪酬的不同，高管团队与普通员工的薪酬差距对公司绩效的影响也会不同。具体表现在，与员工薪酬比较低的企业相比，在员工薪酬比较高的企业中，加大高管团队与普通员工的薪酬差距将更有利于公司绩效的提高。此外，企业性质也会影响到薪酬差距对公司绩效的作用。具体来说，与国有性质企业相比，非国有性质企业的薪酬差距对公司绩效提升的促进作用更大。

The internal pay gap and company performance:An empirical study based on listedcorporation

Based on the data of Chinese listed companies from 2007 to 2010, we study the influenceon the performance of the company caused by the pay gap of top management team and the generalstaff under different conditions. The study found： Improving the pay gap are beneficial to improvingthe performance of the company. Tournament Theory becomes a useful theory explaining the influenceon the performance of the company caused by the pay gap recently in China. Compared withenterprises in which the staff has a lower salary, increasing the pay gap will greatly improve theperformance of the company in enterprises in which the staff has a higher salary. Moreover, the natureof enterprises will always influence the performance of the company caused by the pay gap. Comparedwith the state - owned enterprises, non state owned enterprises promote the positive influence on theperformance of the company caused by the pay gap.