上市公司高管薪酬影响因素的实证研究

本文主要研究我国上市公司高级经理人薪酬水平的影响因素：本文从公司业绩、公司规模、公司所有权结构和董事会构成及其他影响薪酬决定的诸多因素方面提出了假设。实证结果表明：高管薪酬的高低与公司业绩和公司规模有明显的正相关关系；第一大股东控股比例越低，高管薪酬水平越高；独立董事和薪酬委员会的设立对高管薪酬的影响并不显著。

Empirical Research on the Executive Compensation in Chinese Listed Companies

This paper analyses on the factors about the executive compensation of Chinese publicly listed companies. We set up some hypotheses from firm performance, firm size, ownership structure and board structure. From the empirical researches, we find a significant positive association between executive compensation and firm performance, firm size. Lower the top blockholder owns, higher the compensation get. The proportion of independent directors on a board and the presence of remuneration committees have no significant effect on the level of executive compensation.