| The purpose of enterprise existing is to achieve the maximization of shareholders’equity, which can produce the more enterprise performance. As one of the most important enterprise human resources, CEO is the main part of the enterprise innovation, and the maker and practitioner of the enterprise’s development path, who affects the enterprise performance level to a great extent. Salary is the principal mean that enterprise incentives CEO to work hard to improve business performance, and the effect of salary incentive is affected by individual differences, especially CEO’s background characteristics. Based on this, this article analyzes differences that the different enterprise’s salary effects enterprise’s incentive performance, from the perspective of CEO’s background characteristics.Based on a-share listed companies of Shanghai and Shenzhen in2011as samples, This article has done the empirical research on the differences of salary incentive effecting to enterprise performance, under the CEO’s background characteristics’ heterogeneity, This article firstly reviewed the relevant research results, and on this basis, according to agency theory, salary incentive theory, managerial power theory and risk theory and other related theory, analyzed the mechanism of CEO’s background characteristics’heterogeneity on the impact of salary and enterprise performance relationship, and put forward research hypothesis based on it; After selecting the relevant variables, this article established the regression model according to the research hypothesis; Then by using the statistical software, this article carried on the empirical test of model and received research conclusion.The results of empirical study showed that CEO’s salary pays significant positive influence on enterprise performance, which plays an important role on enterprise performance incentive; On the basis of accounting of the differences of the CEO’s background characteristics, the article found that CEO’s difference of gender and age has no clear influence on the relationship between the salary and corporate performance; The differences of CEO’s degree and term have a significant impact on the relationship between compensation and corporate performance, as the CEO’s degree or term promotes and grows, it will weaken the effect of salary incentive on corporate performance; The article found that after differentiating whether the CEO shares holding, due to the heterogeneity of CEO’s degree and term has the more significant effects,when the CEO is not holding, but in the case of the CEO’s shareholding, the effect is not obvious; After distinguish the sample control properties, due to the heterogeneity of CEO’s degree and term has the especially significant effect in the state-owned enterprises, but the effect in the non-state-owned enterprises is not obvious; After the distinguish the presence of both part-time between CEO and the chairman, the article found that due to the heterogeneity of CEO’s degree and term has more significant function when the CEO and chairman hold a concurrent post, while the CEO and chairman don’t hold a concurrent post, it is not obvious. Finally, according to the research conclusion, the article put forward relevant countermeasures and suggestions. |
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