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Research On The Executive Compensation And The Influence Factors Of Executive Compensation On High Tech Listing Corporation

Posted on:2016-01-29Degree:MasterType:Thesis
Country:ChinaCandidate:Y Y ZhangFull Text:PDF
GTID:2309330470960519Subject:Business Administration
Abstract/Summary:PDF Full Text Request
Executive compensation is always a social hot spot, a scientific and reasonable executive compensation incentive system can improve the effectiveness of executive incentive, reduce agency costs and became the power of company’s performance improved. With the continuous development of corporate governance system, our country has already established the performance-based incentive pay system. However, in recent years, some scholars at home and abroad found that when the corporate performance raising the executive compensation raising higher than the rate of declined. This executive compensation performance asymmetry is called executive compensation stickiness and its raised a new challenge for executive compensation incentive. To better understand the sticky issue of executive compensation, the paper selected 158 high-tech listed companies as samples to verify the existence of the executive compensation stickiness. Meanwhile, the paper focus on the study of the effect of ownership structure and executive management structure of board and human capital characteristics of CEO over the executive compensation stickiness.This paper is divided into six chapters. The first chapter is the introduction. Mainly elaborates the research background, research significance, the main research contents and innovations. The second chapter is a literature review, the paper firstly defined the related concepts and reviewed the status of current research related to executive compensation stickiness home and abroad, then reviewed the current status of research and evaluation are summarized. The third chapter is part of the theoretical analysis and research hypothesis, based on the analysis of relevant theories put forward the hypothesis of the paper. The fourth chapter is part of the study design, including an explanation of index variables, sample selection and design models. The fifth chapter is empirical part, including the executive compensation calculation, descriptive statistics, variables Pearson correlation analysis, multiple regression analysis of compensation stickiness exist and the factors of executive compensation on high-tech listing Corporation.The sixth part is the study conclusions and suggestions.based on findings of this paper put forward the relevant suggestions, points out the limitations of this paper study and possible future research directions.Through regression analysis of this paper, we get the following conclusions: China’s high-tech listing Corporation exist notable executive compensation stickiness problems. The proportion of the first shareholder and the proportion of top ten shareholders positively associated with executive compensation stickiness, state-owned enterprises executive compensation stickiness higher than the non-state-owned enterprises, Managerial Ownership negative correlation with executive compensation stickiness. In the board structure characteristic variables, the proportion of independent directors negative correlation with executive compensation stickiness, two part-time positive correlation with executive compensation stickiness, no significant correlation between the size of the board of directors and executive compensation stickiness. In executives individual human capital factors variables, age executives, if re-elected, and academic positive correlation with executive compensation stickiness. Their have no significant correlation between gender with executive compensation stickiness.With the continuous improvement of the system of corporate governance, our executive compensation system has become more and more perfect, but there are still unreasonable. Based on this, the paper concludes with some policy recommendations to reduce executive compensation stickiness, improve the effectiveness of the executive compensation incentive, and help to improve the system of executive compensation.
Keywords/Search Tags:executive compensation, stickiness, corporate governance, Human Capital
PDF Full Text Request
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