Research On Legal System Of Executive Salary

Developing and implementing a reasonable remuneration of senior corporate executives facing all countries in the world, corporate governance legal difficulties. On the one hand, enterprises should not only be able to attract talented people to pay, stability, and motivate qualified personnel truly competitive high-level management talent, improve enterprise management level, on the other hand, companies need to avoid its senior management personnel from the fixed salary is too high the detriment of businesses and the vast majority of shareholders, especially small and medium shareholders.United States and other Western countries in recent years, corporate executives scandals emerged to promote continuous improvement corporate executives around the world pay the legal supervision, and regulation system, including improved corporate executive pay disclosure system, strengthening the role of the Remuneration Committee, and strengthen shareholder especially the small and medium shareholders supervision and remuneration of senior managers,recovery system, has gradually formed a complete set of operators are bound by the legal system of remuneration. China and the United States as the representative of the Western developed countries pay executives regulatory mechanisms, there is still a considerable gap,mainly in the following areas:pay less to disclose the contents of the rich and incomplete, its shareholders, the guidance effect is not strong, equity structure, the status quo have made it ineffective supervision of the General Assembly of shareholders, small and medium difficult to achieve shareholder oversight, an independent director system is just the introduction of our time is not long, the system itself is not expected to play a supervisory role. While China and Western countries in the enterprise management interface also exists the phenomenon of senior management staff salaries out of control,but the specific element of our country and Western countries due to specific reasons, it also different. Thus, while we should learn from the experience of Western developed countries, effective the other hand, the process of transplantation must also present the specific situation of our country, to develop and implement business with Chinese characteristics, executive compensation regulation legal system.Truly establish and perfect a set of corporate performance to match the remuneration of senior management regulation of the legal system, which is the promotion of China's enterprises, especially listed companies towards the health, for regulating the direction of the development has important practical significance.This general framework is organized as follows:Introduction:This chapter includes questions we ask, literature review, describes the motivation of this research to explain the study purpose, research ideas and research methods.This study structure, pointed out the main issues of this study and other related issues need to be studied.Chapterâ… :Regulation of corporate executive salaries and pay the legal system of corporate executivesThis chapter describes the elements of the remuneration of corporate executives.After the director of business is to explore the phenomenon of runaway executive pay, and the reason they exist is out of control.The next European and American business executives in developed countries pay information disclosure system at the present stage of development trends and the latest achievements made to further refine information on the remuneration of corporate executives to disclose the overall trend in overseas countries.Finally details of the European and American developed countries in the field of corporate executive pay system, the recovery mechanism of regulation.Chapterâ…¡:The Remuneration Committee oversight mechanismsThis chapter first introduces the composition of the Remuneration Committee and their specific job responsibilities.Further detailed descriptions of the Remuneration Committee of the developed countries in Europe and the United States in the disclosure regime set by the Remuneration Committee, employing independent consultants, and the system of internal meetings and a series of basic systems. Make an analysis of the Remuneration Committee of the status quo of Chinese enterprises,in order to provide the basis for subsequent research.Chapter III:Regulation and Supervision of Shareholders pay executives This chapter to explore and analyze the shareholders of foreign companies overseeing the remuneration of executives of specific practices, introduced its shareholder remuneration packages for senior executives of the board of directors the right to vote, shareholders of the business affairs right to information, access rights to the board of directors and shareholders equity options and other long-term incentives to the right to approve and some successful experience. And focus on analysis of China's current system and its crux, the main problem is that China's current directors of the enterprise to evade its own obligations, enterprises increasingly weakening the powers of general meeting of shareholders, the independent director system is difficult to play the role of institutional design at the beginning leading to difficult for enterprises to effectively The remuneration of the executive-oversight and regulation, but also analyzed the regulation of this enterprise executives remuneration program design bottlenecks in the procedural aspects of the problems raised in the practical operation of the solution ideas and suggestions.Chapterâ…£:Recommendations of the legislative level regulation of Chinese business executive salaryThe previous chapter, has analyzed the salaries of senior executives of Chinese enterprises has been encountered in the implementation phase of many problems, has generated controversy in the academic community. Relative to the United States, whether the remuneration packages of other senior executives, or board of directors and all directors, including outside directors (outside directors) or independent directors (independent directors) reward programs under its board of directors compensation committee (compensation committee) decided to.Therefore, this chapter will improve the corporate executive pay disclosure proceeding, proposed to the annual management reports in an enterprise setting, "the total remuneration of senior management staff of directors," and "enterprise performance and managerial remuneration contrast chronology" and other forms, used to expand the scope of the disclosure of the contents.Widespread use of the board to set compensation committee,commissioned by independent directors improve the system and pay to attend examinations and other means to improve the enterprise based on the Remuneration Committee system,and pointed out that the shareholders should be actively involved in guiding enterprises to build, improve the remuneration of corporate executives to recover legal system to solve the present problems.Innovations of this article:First, this stage in our country for the remuneration of senior corporate management aspects of regulation are mostly focused on how to build the executives pay incentives, but how to truly establish a match with the corporate performance of senior management remuneration binding legal system study is not yet rich.In this paper, the enterprises in Western developed countries, the remuneration for senior management of the legal system regulate the latest trends, then you can learn from the experience obtained, so as to improve the remuneration of executives regulate their own legal systems that provide a reference.Second, China's current literature, the pay for corporate executives regulatory issues, especially the independent director system for the remuneration of regulatory issues arising from the role of sound in some literature to whom rarely explored.This system of independent directors for the regulatory issues for the improvement of remuneration arising from the role and how to monitor the development of procedures for executive compensation issues;in particular, foreign literature, the issue for this discussion, if it could be transplanted into their systems and experience domestic law, to make a detailed feasibility proposal.