Researsh About The Impact Of Listed Real Estate Companies’ Capital Structure On The Operators Salary

Along with the establishment of modern enterprise system,the problem of operatorsinspiration has become a hot spot in the study of theory and practice.Salary is the mostimportant means of incentive operators,a reasonable compensation incentive mechanism caneffectively improve the working enthusiasm and efficiency of executive;avoide agency failure,brain drain, and other negative phenomena.Therefore,studying the impact factor of executivepay has great significance.This paper makes a study of the capital structure on the influence ofthe operator’s salary,foreign scholars had a lot of theory and empirical research on thisproblem,the domestic researchers also have made a large number of study in recent years,butin China,the later start,the study is not abundant enough.This thesis has reviewed comprehensively the domestic and foreign about the correlationstudy between operator’s salary and Capital structure,on this basis,it defined the conceptsabout the listed real estate company, operators,operator’s salary and debt capital structure.Thepaper makes Human capital theory,Capital structure theory and Principal-agent theory as thetheoretical basis of this study.Meanwile,analyzed the characters and present situation ofoperator’s salary and the debt capital structure in the listed real estate company.Inaddition,based on the disclosure data of the listed real estate company in 2008 to 2010,thearticle chooses descriptive statistics analysis the correlation analysis and regressionanalysisd,gives an empirical research about capital structure of listed real estate companies onthe influence of the operator’s salary and examines 2008 to 2010 three years of different listedreal estate company capital structure on the influence of the operator’s salary.There are twoaspects conclusion of the descriptive statistics study,on the one hand,it exists pour U quadraticfunction relationship between operator’s monetary salary and the capital structure;on the otherhand,it exists pour U quadratic function relationship between stocks owned of operator andthe capital structure.Finally, the paper puts forward concrete Suggestions in view of thepresent situation of the listed real estate company,one is to choose reasonable debt capitalstructure,and the second is to improve the operator’s salary incentive system.