高管薪酬激励与费用粘性克服——基于“薪酬差距”和“薪酬溢价”视角的实证检验

摘要笔者从高管薪酬溢价和高管薪酬差距两个角度实证检验了高管薪酬激励的费用粘性克服特征,并从市场化程度、行业、股东性质等角度,进一步检验和分析了高管薪酬激励的费用粘性克服效果。研究发现我国上市公司的费用具有明显的粘性特征,高管薪酬激励能有效克服费用粘性;相比落后地区,发达地区上市公司中高管薪酬激励的粘性克服效果较差;两种高管激励方式的粘性克服效果存在行业差异;国有上市公司中,高管薪酬激励的粘性克服效果非常显著,非国有上市公司中则不显著。

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	孙维章
	王灿
	干胜道

关键词：薪酬差距薪酬溢价费用粘性企业性质

Abstract： In this study, the author tested the anti-sticky effect of compensation incentives (contain both pay gap and salary premium) empirically and studied the changes of compensation incentives’ anti-sticky effect when market, industry and shareholder are different. Results show that the expense of List Companies in China is significantly “sticky” and compensation incentives are anti-sticky. Comparing to developed area, compensation incentives of the companies in undeveloped area are more effective in reducing stickiness. Compensation incentives of non-manufacturing companies reduce stickiness significantly but not in manufacturing companies. Compensation incentives of SOEs reduce stickiness significantly but not in non-SOEs.

Keywords： Pay Gap Salary Premium Expense Stickiness Nature of Business

收稿日期 2014-04-25; 接受日期 2016-05-16;

基金资助:国家社会科学基金项目(13BJY015);国家自然科学基金项目(71302132); 山东省自然科学基金项目(ZR2014GP004)

作者简介: 孙维章(1985- ),男,山东阳谷人,管理学博士,讲师,主要从事财务管理研究;王灿(1977-),女,四川成都人,博士研究生,讲师,主要从事财务管理研究;干胜道(1967-),男,安徽天长人,教授,博士生导师,主要从事会计与财务管理研究。

引用本文:

孙维章,王灿,干胜道.高管薪酬激励与费用粘性克服——基于“薪酬差距”和“薪酬溢价”视角的实证检验[J]. 经济经纬, 2016,3: 96-101

SUN Wei-zhang, WANG Can, GAN Sheng-dao.Executive Compensation Incentives’ Anti-Sticky Effect on Expense ——An Empirical Test about Pay Gap and Salary Premium[J] Economic Survey, 2016,V33(3): 96-101

链接本文:

http://www.jjjw.org.cn/CN/ 或 http://www.jjjw.org.cn/CN/Y2016/V33/I3/96