Research Of The Influencing Factors On Manager Compensation In Chinese Listed Companies

In our country, the problem of motivating top-managers in public company is always the focus of the society. In recent years, the government has enhanced the governance of this problem and the construction of rational manager compensation system is a core content of efficient governance mechanism. The study of manager compensation can consummate the theory of corporate governance, guide the design of manager compensation system, and reveal the influencing factors and effect, construction further research platform.This paper analysis the influencing factors based on the theory of principal-agent, Human resources and corporate governance, introduce the risk, market and personal characteristics during the research of influencing factors. In addition, choose a longer time window of data to make up for the Conclusion error of one accounting period.Based on the relative foreign theory and certain research fruit of the inner scholars, the paper analysis the decisive factors of manager compensation in public company comprehensively. After provides supposition from the theoretical point of view, further more, this paper carries on the description analysis to manager compensation through the years and sub-sectors data. Then, this paper carries on the empirical research from two aspects:the total and the industries. The total regression proved that "the pay-outstanding achievement contract" has already come into being commonly; the company scale and manager age have notable positive expectation pay level; however, the relation among centralized degree of stock, the proportion of statement stock, Company risk and pay level is not notable. This kind of relationship exists different among industry, and the focus on solving the problems are also different. Therefore, it is necessary to consider the differences in industry. In the end, this paper brings forward notified suggestions according to the anglicized result above.