Empirical Research On Intra Compensation Dispersion And Company Performance Of Listed Companies Of State Owned Enterprises

With the requirement of the full disclosure of top management's detailed remuneration of listed companies as the Content and Format Standards of Annual Report enacted in 2005, more and more high-salary managers have entered people's sights and remuneration becomes the focus arousing people's attention. State-owned Enterprises as a special enterprise type have differences with the other enterprises. Firstly, it takes political tasks to a large extent, such as maintaining national security and stability. Apart from that, it also takes economic tasks such as the growth of national economy and improvement of people's living standards. Recently China has been conducting deep reform on State-owned Enterprises, even forming the Reform Upsurge of State-owned Enterprises. Therefore, it is necessary to have research on remuneration and performance of State-owned Enterprises.Current researches on this type of problem are mostly concentrated on the relationship between top management team remuneration and performance,few researches on the Stateowned Enterprises. With the data of listed companies of State Owned Enterprises from 2011 to 2014, based on Tournament Theory,this paper establishes relevant model to research empirically identifying the intra top management team remuneration dispersion and the relationship between remuneration dispersion of top management and staff and enterprise performance. Then it takes growth as index to categorize State Owned Enterprises and conducts regression analysis to further verify research hypothesis. Conclusions are as follows: there is positive correlation between intra top management remuneration dispersion of listed companies of State Owned Enterprises and enterprise performance. There is positive correlation between top management and staff remuneration dispersion of listed companies of State Owned Enterprises and enterprise performance. Finally, this paper puts forwards some recommendations specifically and points out shortcomings and prospects of the research.