Research On Executive Compensation Of Chinese Listed Companies

With the development of market economy,enterprise control and management gradually separated.In the case of mutual separation of ownership and management,corporate executives accept the owner's entrustment to fulfill the fiduciary duties at the same time,is bound to accept the performance responsibility to adapt to the pay.In order to ensure that the direction of the executives of the company is consistent with the interests of the entrusters,the remuneration incentive has become an important means to solve the principal-agent problem.In recent years,especially since the outbreak of the US subprime mortgage crisis triggered the global financial tsunami,Wall Street financial institutions executives pay tens of millions of dollars paid a lot of attention to the public,and China's listed companies executives "zero pay" and "astronomical Salary" coexistence of the remuneration of chaos has also been public opinion on the cusp.The reports of executives using their powers to influence their own pay are frequently seen in newspapers,but domestic scholars have not studied them well.How to establish an executive incentive system in line with our enterprise,so that enterprises in the highly competitive market to retain the necessary personnel,especially senior management personnel,in order to avoid brain drain.In this context,the study of executive compensation is of great significance.This paper respectively for the company's performance and executive compensation,executive power and executive pay,incentive scheme and executive pay,generalizes the current research literature in three aspects,and according to the theory of principal-agent theory,the optimal contract,managers of power theory,incentive theory as theoretical basis,from two aspects of external factors and internal factors systematically has carried on the summary to the influence factors of executive pay.This article focuses on vanke's executive pay the case part,from the tens of millions of annual salary of vanke group chairman wang shi,the vanke group executive pay status quo and defects existing in the current salary system has carried on the thorough analysis.According to the analysis of the case,the policy Suggestions of improving the compensation system of listed companies are put forward by the small and large and the national conditions of China.