Executives Of State-owned Enterprises Pay System Research

The reforms of state-owned enterprises ( SOEs) have entered the third stage of changing the state-owned property management system, building modern property relations and making the shareholding system as the realizing form of the publicly-owned system. The reform of SOEs' top managers compensation is also the important assignment of the reforms of SOEs, high efficiency top managers compensation can motivate top managers of SOEs enough and lead their behavior effectually, so it is very useful to resolve the agent problem, improve the reforms of SOEs and make the SOEs more efficiency.In the different stage of SOEs reforms, the SOEs have adopted different top managers compensation to fit it, from the wage system based on grades of positions in planned economy term to the wage system based on post and skill which SOEs used in the first stage of SOEs reforms, and latter the wage system based on post and perform, to the annual wage system or stock ownership compensation and other top managers compensation which SOEs are tempting, either of them doesn't embody the characters of SOEs reforms in different term. So we can say, the course of the top managers compensation of SOEs reflects the course of the SOEs reforms, and the gradual embedding of SOEs reforms requires corresponding top managers compensation to fit it.At present, SOEs mainly adopt monthly pay or monthly pay adding bonus as its top managers compensation, under this compensation, neither the combination of the compensation nor the level of the compensation can meet the demand of the top managers, it couldn't motivate and constrain top managers effectual. Therefore it is very urgent to reform top managers compensation, improve the efficiency of top managers compensation. To build a effectual top managers compensation, SOEs must build a better top managers compensation producing mechanism firstly, it can make the top managers compensation continuously produce inside, and avoid building compensation which can't fit SOEs by the government's strength.