A Study On The Stickiness Of Executive Compensation And Its Inter-industry Differences Among China's A-Share Listed Companies

With theoretical and practical significance,executive incentives and executive compensation have been an enduring research field in management.China has become one of the most active countries in the development of corporate governance.The establishment of a sound and efficient performance-oriented compensation mechanism has become a top priority.Through empirical research,this paper tests the sensitivity and stickiness of executive compensation to company performance in A-share listed companies,and then compares and analyzes the differences between industries.Firstly,the paper reviews the theoretical basis and literature research concerning principal-agent theory,contract theory and cost behavior theory.On this basis,research hypotheses and models are proposed.Taking the panel data of 2,402 listed companies in China from 2013 to 2017 as research sample,linear regression method was used to test the sensitivity and stickiness of executive compensation to corporate performance.The results show:(1)a significant weak correlation between executive compensation and corporate performance;(2)significant sticky characteristics in executive compensation;(3)significant differences in executive compensation stickiness between industries.