Empirical Research On Executive Pay And Corporate Performance Of Listed Based On Chinese Manufacturing Companies

Executive pay of listed companies has been a focus that has beenclosely watched by domestic and foreign parties, China has alsointroduced a number of the pay system policy after2003.In2008, the U.S.subprime mortgage crisis triggered a global financial crisis, thenexecutives pay is subject to the unprecedented attention of the community.With the deepening and spread of the financial crisis, the publicquestioned more and more intense whether the executive pay andcompany performance is linked. Therefore, propose the theme of thisarticle in this backdrop, it has very important practical significance toresearch the executive pay and corporate performance of listedmanufacturing companies in China from2008to2010.Based on the relevant theoretical results and research findings athome and abroad, we use the listed manufacturing companies of theChina's shanghai Stock Exchange from2008to2010as the object ofstudy, empirical analysis from a different perspective of the company's growth, the size of the company, the proportion of managerial ownership,the proportion of independent directors, the net return on assets, return ontotal assets ratio. The results show that:1%significance level, theexecutive pay and the company's return on assets, return on net assets,company size is positively correlated, through the test of significance. Inthe overall sample, the proportion of independent directors and executivecompensation is related on the1%level, in the2008sample it positivelyrelated to executive compensation in the5%level, but in2009,2010itshows no correlation.