Research On Incentive Mechanism And Compensation Structure Of Senior Managers Of Listed Companies In China

For a long time,the establishment and perfection of the salary system plays an important role in corporate governance,the establishment of enterprises,growth and innovation is closely related to salary system,the course of decades in our country market economy,set up all kinds of enterprises have sprung up,but the serious internal control two levels of differentiation,the management of the company top managers also very is not standard,fully mobilize the enthusiasm,initiative and creativity of top management become a key point in current research.Based on the salary system,corporate governance,incentive theory as the instruction,on the basis of summarizing the predecessors' research results,to company executives as the research object,adopting the combination of quantitative and qualitative methods,to top managers compensation system and incentive mechanism on the basis of the comparison research.This paper proposes an adjustment of salary system to achieve the incentive effect of senior executives.Based on the 2014-2016 financial data of listed companies in our country the qualitative analysis of the present situation and the trend of executive compensation system in China,and combined with the actual data of 2016,summarizes the influence factors of executive pay.And find out the dominant factor as the basis for the incentive.Through the empirical analysis,found the executive compensation,although showing a rising situation,but the overall level compared with abroad is still a bit low,and less popular industry executive pay is low,the hot industry as a whole is on the high side,the unbalanced phenomenon is serious.The proportion of short and long pay is also seriously dissonance,accounting for more than 65% in the short term.It leads to a quick profit and a lack of long-term vision.Through the investigation and analysis of the influence factors of senior managers in listed companies,it is found that the remuneration of senior executives is positively correlated with the performance of the company itself.The ratio of corporate performance to executive ownership is positively correlated.3.In terms of the interpretation of company performance,the annual salary of senior executives of listed companies is strongerthan that of non-shareholding.Iv.Executive compensation is positively proportional to the size of the company.Executives of big companies are rewarded with higher pay because of the complexity of the environment.To sum up,we conclude that the main problem of remuneration of senior managers in listed companies is the following three aspects: first,the development of remuneration level is not rigorous and scientific.The short-term proportion of the compensation system is disordered,the short-term incentive is paid attention to,and the long-term incentive is neglected.3.Compensation incentive mode is also unbalanced,emphasizing explicit incentives and ignoring hidden incentives.This article discusses how to optimize the compensation system of the company,based on the annual salary system.On the one hand,the salary structure is defined as: welfare +incentive salary + basic salary.The benefits are mainly the combination of various substances and non-material distribution methods to ensure the safe work.Incentive pay should reflect long-term incentive pay and performance pay,designed to motivate executives to create as much value as possible to the company.In basic salary,the value of human capital should be emphasized.On the other hand,the combination of internal and external bi-directional analysis makes executive compensation both external and internal stability and incentive.The basic salary is determined,and,respectively,the operator coefficient,the comprehensive average salary,the industry regulation coefficient,the enterprise scale adjustment coefficient.The salary performance level is mainly determined,and,respectively,respectively: the adjustment coefficient of the auxiliary assessment index,the profit sharing coefficient,the annual excess profit of the enterprise,and the profit target that the operator should achieve.Finally,long-term incentive is based on equity,choosing different equity incentive plans according to the specific situation of enterprises.After the work out a plan for standard compensation management,to ensure its implementation,this paper also puts forward the following Suggestions: first,to establish the corresponding supporting measures,the right to make senior run in the sun,for violations of the behavior to be disclosed.Second,strengthen internal governance,carry out risk control and restraint mechanism for senior management.Third,strengthen the non-material incentive,optimize pay structure,adopt scientific method to determine pay level.The innovation of this paper is that the target is locked in the top management of the listed company and the framework of the incentive system of the executives is improved by using the compensation system.The shortcoming is that the data selected is limited to 2016 and has certain limitations.The breadth and depth of the analysis also have some defects.The depth and breadth of this article are strengthened,and the analysis of data is more comprehensive.