An Empirical Study On The Relationship Between Managers' Remuneration And Achievement Of Liquor Listed Companies In China

Listed companies in 2015,"poor temple rich abbot"-that is,the company's performance decline,executive pay is still rising situation still exists.Whether executives' high incomes are improving the company's performance is questionable.Therefore,it is of great theoretical and practical significance to study the interaction effect of executive compensation and performance of alcoholic enterprises in improving the performance of Chinese liquor enterprises and improving the incentive mechanism and governance mechanism of alcohol enterprises.Based on the analysis of research results at home and abroad,the relevant theories of salary incentive,the paper analyzes the 25 listed companies' data for six years,and uses the balanced panel model.First,the introduction of large shareholder relationship,This paper focuses on the interaction between executive compensation and corporate performance,and the influence of major shareholder relationship on pay-performance sensitivity.In the end,the relationship between executive compensation and executive performance is analyzed.The results show that there is no correlation between the comprehensive performance indicators and the executive compensation,and the listed companies in China have not yet established a compensation system with comprehensive performance as the evaluation standard.The number of unrelated people is significantly negatively correlated with executive compensation,The executive pay has a certain supervisory effect on the executive compensation.The executive compensation has significant positive correlation with the major shareholder relationship and the enterprise performance interaction,which shows that the executive compensation and performance are positively correlated and the sensitivity is improved under the influence of the big shareholder relationship.According to the empirical results,this paper puts forward three suggestions to improve the compensation excitation mechanism,ameliorate the company management structure,strengthen information disclosure.