| 上市公司社会责任履行度与高管激励研究 |
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| 引用本文： | 刘西友,韩金红. 上市公司社会责任履行度与高管激励研究[J]. 山西财经大学学报, 2012, 0(5): 79-86 |
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| 作者姓名： | 刘西友 韩金红 |
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| 作者单位： | 北京大学光华管理学院;中央财经大学会计学院;新疆财经大学会计学院 |
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| 摘 要： | 文章从委托代理理论和社会责任领域相关理论出发,结合我国的制度背景,以2007～2008年度沪深两市A股上市公司为样本,实证检验了公司社会责任履行度在高管激励契约中的作用,并考察了公司治理因素对两者关系的影响。研究发现,上市公司的社会责任绩效越好,高管的薪酬越高。通过进一步的考察,我们发现,最终控制人为国有的上市公司,更加重视社会责任履行在高管薪酬契约中的作用;董事会持股比例越高,社会责任绩效的地位越重要;我们的证据不支持独立董事在其中发挥了作用。研究表明,实践中公司逐渐将社会责任工作融入战略和日常管理,以社会责任为导向的公司治理制度安排正在形成。
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| 关 键 词： | 社会责任 公司治理 高管薪酬 |
Research of the Performance of Social Responsibility of Listed Companies and CEO Remuneration |
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| LIU Xi-you,HAN Jin-hong. Research of the Performance of Social Responsibility of Listed Companies and CEO Remuneration[J]. Journal of Shanxi Finance and Economics University, 2012, 0(5): 79-86 |
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| Authors: | LIU Xi-you HAN Jin-hong |
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| Affiliation: | 2,3(1.Guanghua School of Management,Peking University,Beijing 100871;2.School of Accountancy,Central University of Finance & Economics,Beijing 100086;3.School of Accounting,Xinjiang University of Finance & Economics,Urumqi 831212,China) |
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| Abstract: | The article explores the question of whether CEO remuneration is properly structured to provide incentive to the CEO to improve firm corporate social responsibility(CSR).The authors also examine the extent to which the interaction of firm CSR and corporate governance determines remuneration.The sample consists of firms from China firms from 2007 to 2008.The results suggest that firm CSR is relevant to remuneration schemes.There is a significant,positive main effect of firm CSR on CEO remuneration.Further,the authors find that state control and director shareholding typically strengthen the rewards CEOs may get for increasing levels of CSR performance.However,this paper finds the effects of independent director on the relationship between CEO remuneration and firm CSR. |
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| Keywords: | social responsibility corporate governance CEO Remuneration |
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