Travel Listed Company Executive Compensation And Enterprise Performance Dynamic Study

With the developping of securities business, tourism listed companies have become the head in travel industry. At this era of knowledge economy, the essential competition is base on the holding of person with ability. Being the whole show of tourism listed companies, exclusive supervisor play an very important part in company management. How to inspirit the exclusive supervisor effectively become the key of company management. Base on the theory of management economics,statistics,demotics and marketing, this essay take 25 typical tourism listed companies to be research objects, applying SPSS and EVIEWS software, analyze the relationship between the exclusive supervisor's compensation and tourism listed companies'performance progressively.The purpose of this research:①Analyse the current situation of exclusive supervisor's compensation in tourism listed companies, including the compensation level,long-term incentive plan and so on;②Base on the variable and concept model made, analyze the relationship between the exclusive supervisor's compensation and tourism listed companies'performance;③Base on the positive analysis, judge the rationality of the exclusive supervisor's compensation,the effect of encouragement;④Analyze the relationship between the exclusive supervisor's compensation and tourism listed companies'performance across the board by the way "entire-distinguished type-individual case", it expects that it can offer some gists for their developping healthily.The process of this research:①Background analysis:analysis about the the current situation of exclusive supervisor's compensation, and the necessity of this research.②Proposing the question: review on the theoretical investigation, state the problems in tourism listed companies.③Analyzing the question:first, make Multiple Regression and Correlation Analysis base on the whole database with Statistics of 25 companies and 10 years.secondly, we validate the results above by analyzing base on panel-data of 19 companies and 9 years. Third, an analysis is made among different types of companies to find differential features. Fourthly, we make a research about GLLY. Besides, in order to analyze the payment systems with stimulating and restrictive comprehensively, We make a market research for tow weeks in Guilin,500 questionnaires were sent out and 472 available questionnaires were retrieved, response rate was 94.4%. The collected data were analyzed through SPSS16.0 and EXCEL2003.④Solving the problem:make the advices about how to encourage and restrict exclusive supervisor by remuneration system.The conclusion:①The average annual wage of exclusive supervisor in tourism listed companies is a little low, but it keeps a steady increase. Many tourism listed companies have Stock-based incentive plan, but the stock-keeping ratio is lows and have no relationship with the variation of annual wage. The effect of Stock-based incentive is not patent.②The number and variation scope of annual wage among different types of tourism listed companies is different.③Base on the whole blend-section sample, the annual wage of exclusive supervisor have no prominent Relationship with the Company Performance.④he annual wage of exclusive supervisor have Positive correlations with the annual wage of exclusive supervisor.⑤The specific gravity of independent directors have meager Positive correlations with the annual wage of exclusive supervisor.⑥The change of annual wage of exclusive supervisor will affect the change of Earnings Per Share and Main operating margins.⑦The correlations between the exclusive supervisor and tourism listed companies'performance is different, the Performance Indicators which have correlations with the exclusive supervisor are different too.⑧Not being open of information is the key reason of the publics'Query.The main innovations of this research:①It is hapeful to analyze the relationship between the exclusive supervisor's compensation and tourism listed companies'performance on the basis of tourism;②Being different from the static analysis,we use the whole database with Statistics of 26 companies and 10 years;③Try to choose variable base on the shareholder value,business effectiveness,market value and stakeholder;④step-down, analyze the relationship between the exclusive supervisor's compensation and tourism listed companies'performance across the board by the way "entire-distinguished type-individual case".