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高管团队内薪酬差距的激励效应要考虑高团队本身的变化所产生的影响。以高管继任来源为切入点,对高管团队整合过程中的利益一致/冲突进行衡量,并观察其对高管薪酬差距及其激励效应所起到的作用。结果表明,高管团队存在利益冲突时,高管薪酬差距比高管团队利益一致时要小;高管团队利益一致时,高管薪酬差距与业绩显著正相关,支持锦标赛理论;高管团队利益冲突(与高管团队利益一致时相比)削弱了扩大薪酬差距以提升企业绩效的作用。本研究为完善上市公司高管团队建设提供了有益的理论支持。
The incentive effect of the pay gap in the executive team should take into account the impact of changes in the high team itself. Starting from the succession of senior executives, we measure the coherence / conflict of interests in the process of senior management team integration and observe the role it plays in the executive compensation gap and its incentive effects. The results show that when there is a conflict of interest in the senior management team, the executive pay gap is smaller than that of the senior management team. When the executive team benefits are consistent, the executive compensation gap is significantly and positively correlated with the performance, and supports the championship theory. Conflicts (when compared with the interests of the executive team) weaken the role of expanding the pay gap to improve business performance. This study provides useful theoretical support for the improvement of the top management team of listed companies.