股权结构、高管薪酬与企业社会责任履行——基于重污染行业上市公司数据

从公司治理机制角度,分析了股权结构、高管薪酬对于企业社会责任履行的重要性。然后以2014-2017年沪市部分A股重污染行业上市公司数据为样本,实证检验了股权结构、高管薪酬与企业社会责任绩效的关系。研究发现:①重污染企业股权集中度和社会责任绩效呈现显著的倒U型关系;②股权属性、高管长短期薪酬分别与社会责任绩效显著正相关。据此提出:合理调整上市公司股权集中度和管理层薪酬结构;提高非国有企业的社会责任意识等建议。

Ownership Structure、Executive Compensation and CSR Performance--Based on the Data of Listed Companies in Heavy Polluting Industries

This paper analyzed the importance of ownership structure and executive compensation to the fulfillment of corporate social responsibility from the perspective of corporate governance mechanism.Then it empirically tested the relationship between ownership structure, executive compensation and corporate social responsibility performance with the data of some listed companies in Shanghai’s heavily polluting ashare industry from 2014 to 2017 as samples. The results showed that the ownership concentration and social responsibility performance of heavily polluting enterprises had a significant inverted u-shaped relationship, equity attribute and short-and long-term executive compensation were positively correlated with social responsibility performance.Accordingly, it put forward the suggestions which included reasonable adjustment of ownership concentration and management compensation structure of listed companies;improving the sense of social responsibility of non-state-owned enterprises.