| 上市公司代理成本与企业绩效关系研究——来自金融类上市公司证据 |
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| 引用本文： | 刘灿辉,吴斌. 上市公司代理成本与企业绩效关系研究——来自金融类上市公司证据[J]. 财会通讯, 2009, 0(24) |
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| 作者姓名： | 刘灿辉 吴斌 |
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| 作者单位： | 东南大学经济管理学院; |
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| 摘 要： | 我国企业存在的代理问题主要表现为高管人员在获得高额薪酬的同时还会职务消费。本文以委托代理理论为基础,基于2001年至2007年的金融类A股上市公司数据,对高管代理成本与企业绩效的相关性进行了实证检验,结果显示:我国金融类上市公司职务消费不能对企业盈利能力、规模产生显著影响,高管薪酬激励能显著提高企业规模,但对企业盈利能力提高不显著。
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| 关 键 词： | 金融类上市公司 代理成本 企业绩效 |
Research on the Relationship between Agency Cost and Firm Performance in China Financial Listed firms |
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| Liu Canhui Wu Bin. Research on the Relationship between Agency Cost and Firm Performance in China Financial Listed firms[J]. Communication of Finance and Accounting, 2009, 0(24) |
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| Authors: | Liu Canhui Wu Bin |
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| Affiliation: | Liu Canhui Wu Bin(Economics , Management School,Southeast University,Nanjing,Jiangsu 211189) |
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| Abstract: | The main problem exists in Chinese firms is that managements receive high salaries as well as non-pecuniary compensation.Based on principal-agent theory,we examine the relationship between management's agency cost and firm size with Chinese financial listed firms'data,A share from 2001 to 2007.The empirical evidences showthat non-pecuniary compensation cannot contribute to a firm's earnings and size;Managements' pay has positive effect on the increase of firm size,but cannot affect firm's earnings significa... |
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| Keywords: | Financial listed firms Agency cost Firm performance |
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