高管薪酬与上市公司业绩相关性研究
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引用本文:曾爱军.高管薪酬与上市公司业绩相关性研究[J].财经理论与实践,2013,(4):64-67
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作者单位
曾爱军 (广东商学院 会计学院广东 广州510320) 
中文摘要:采用净利润作为公司业绩评价指标,基于2008~2010年A股市场上市公司数据,研究管理层年薪总额、公司净利润、平均总资产三者之间的相关性。实证结果发现三个指标不符合正态性,但有一定非线性关系,并且是以平均总资产作为控制变量时,净利润与管理层年薪总额的对数存在很弱的非线性关系。分行业分析结果显示,净利润与管理层年薪总额仅在少数行业中存在相关性,其中金融、保险业与房地产业两者偏相关系数为负。
中文关键词:高级管理层  薪酬  公司业绩  偏相关
 
Study of the Relationship between Management Compensation and Listed Companies Performance
Abstract:Using net income as the index of company performance, the relationship between management compensation, corporate performance and average total assets has been analyzed using the data of company on A stock market from 2008 to 2010. Empirical results show that the distribution of the three is not in a normal fashion but obeys nonlinear distribution. When the average total assets are taken as control variables, there is a very weak nonlinear relationship between the net income and management annual salary. Classification analysis shows that, the above relationship only exists in a few industries, especially for some industries, the partial correlation coefficient is negative.
keywords:Executive  Compensation  Company Performance  Partial Correlation
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