Empirical Research On State-owned Listed Companies Executive Compensation And Corporate Performance Relationship

Since 1980s, the relationship between the executive compensation and corporate performance has become a hot research spot among foreign scholars , and domestic scholars started to study the relationship between the executive compensation and corporate performance from 2000. The tide of study on the relationship between the executive compensation and corporate performance was pushed to the vertex since the Ping An Insurance Company executive high compensation event , but literature about that from the dynamic panel model angles was little, so this paper studies the relationship between state-owned listed companies executive compensation and corporate performance by using the dynamic panel model.This paper first discusses the relationship between executive compensation and corporate performance, and the predecessor's research achievements. We also find that there was no precedent in domestic literature using dynamic panel model to study.Then we discusses the undoubtedly relationship between the executive compensation of state-owned listed companies and corporate performance from the principal-agent theory, defines the relevant variables, makes the descriptive statistics analysis and the unit root test,model specification test and multiple linear test, and makes the regression analysis by using dynamic panel model , the panel data and the stata software.We draws the following several conclusions :First, there is a negative correlation between the executives monetary compensation of the state-owned listed companies executives and corporate performance.Second, there is a positive correlation between executives holdings of the state-owned listed companies and corporate performance.Third, there is a positive correlation between executive compensation and corporate scale.Finally, the paper discusses the problems which may exist in the management of executive compensation of the state-owned listed companies, and puts forward relevant suggestions, I hope this has the certain enlightenment function to the compensation system of our country's state-owned listed companies.