Research On The Relationships Between Corporate Governance, Executive Compensation And Corporate Performance Of Listed Company

This paper mainly researches on the relationships between corporate governance,corporate performance and executive compensation of listed company, state-owned and non state-owned listed company by the method of practical analysis. Taking into account the volatility of the cross-section study,we select data from 2005 to 2007 to conduct a comprehensive analysis,and define the stated-ownership by the concept of ultimate owners.By constructing multivariate linear regression model,after person test and multiple linear regression analysis,the results show that,the size of the board of directors,the proportion of state-owned shares,firm size and the corporate performance have the most significant impact to the executive compensation.When the size of the board of director,firm size,the corporate performance,the proportion of independent directors are higher,existing the situation that manager and chairman are the same one or there is remuneration committee,the executive compensation is higher;when the proportion of state-owned shares,concentration of ownership are higher,the executive compensation is lower;the relationships between the size of the board of supervisors,the state-owned ultimate owners and executive compensation are not stable;the corporate performance and executive compensation could affect each other obviously.The state-owned company has the same conclusions with the listed company basically.The relationships between corporate governance,corporate performance and executive compensation of non state-owned company are different with listed company and state-owned company.