The Research On The Relationship Between Executive Compensation And Enterprise Performance Of The China Growth Enterprise Market Listed Corporations

With the developmet of market economy in China, the modern enterprise ownership and the right of management have been separate.The salary incentive of senior managers has receiving more and more attention.Bcause of the different targets and the shareholders,some unequal infromation between senior executives and some ethical risk, a series of problems between princpal and agent happen. How to stimulate the senior managers efficiently has been the important topic of modern research. There are lots of researchers who are focusing on this topic and try to establish a complete executive compensation system. There have been a lot of researches about the factors contributing to executive compensation in the main stock market, but few researches forced on the same topic about GEM.Because of this,this paper hope to collect the related data and make empirical research for the further researches.This paper combines the method of document analysis and empirical analysis,based on the principal-agent theory,incentive theory and human capital theory,analyze the correlation between the incentive of senior managers and it's influencing factors on GEM. This paper collect and collat the data of the enterprises of GEM in 2013,get rid of some incomplete date and buid a descriptive statistical analysis model to explore the salary of senior managers between different industries and regions.We find that there is big otherness between industries and regions,some senior managers of the enterprises do not have the stock of the enterprises.It means that those enterprises need progress in the way of sock ownership incentive of managers.This paper uses the scale of the directors and the proportion of ndependent director as the variables.With the multiple linear regressiond model,we find that the incentive of senior managers and corporate performance on GEM have positive correlation and the incentive of senior managers don't have prominent correlation with if the chairman and CEO positions have been held by one person,the scale of the directors and the proportion of ndependent director.Baced on this,we find some issues and put forward some improvement suggestions like to perfect the mechanism of performance evaluation and salary incentive, the corporate governance structure and the release of the imformatiom of managerial compensation and make the salary reasonable.