Research On Asymmetry Change Of Enterprise Performance And Enterprise Salary

Income is a measure of the status of an important business operating standards,the higher the level of annual corporate earnings,the more motivated business development.In addition to the operating conditions in this area,the company will also pay their own earnings as a remuneration,so the company's earnings are also paid to pay the employees,the owners want to be paid with lower manpower to maximize corporate profits.With the rapid development of economy in China,there is a big gap between different people.For example,the remuneration of executives and ordinary employees in an enterprise often has several times or even tens of times difference.Some scholars think that senior executives There is an asymmetry in the change of employee's salary,that is,the incentive for employees is obviously less than the incentive for executives.When the return of the business rises,the owner of the business considers the performance of executives and rewards executives more benefits,When corporate earnings decline,not all will be attributed to executives,executives did not decline the rate of decline in the same proportion,this asymmetric changes are likely to adversely affect the business.To understand their own business and pay status,we need to study the asymmetry of corporate earnings and pay changes exist in order to be more conducive to the long-term development of enterprises.The dissertation sorts out the various research results on the changes of corporate earnings,executive pay and enterprise compensation asymmetry.Based on the theories of principal-agent theory,two-factor theory,management rights theory and salary gap theory,Of the manufacturing listed companies for the study of the target,in view of the current existence of China's listed companies executives and employees pay gap is too large,management pay too much sticky,as well as corporate earnings and all levels of enterprise pay asymmetry changes and other issues,analysis of these The cause of the problem.Based on the historical data of manufacturing listed companies from 2012 to 2016,we set up models of corporate earnings and remuneration sensitivity,the model of non-symmetry change and the model of future asymmetric change impact on the future performance,and the empirical results Correlation test and robustness test.Combining the theoretical research and empirical test,this paper puts forward some suggestions,such as strengthening the restraint and supervision over the compensation symmetry of enterprises,optimizing the ownership structure and setting the minimum proportion of independent directors,and improving the construction of remuneration committees.The purpose is to make the management of the owners of listed companies more accurate and timely grasp of employees' salaries so as to optimize the rational allocation of resources in the capital market so as to ensure a more reasonable and lasting healthy development of the listed companies in our country.