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6853本文基于锦标赛理论和公平理论,以总经理与副总经理之间的垂直薪酬差异作为不同级别高管之间的薪酬差异,以副总经理之间的平行薪酬差异作为同级别高管之间的薪酬差异,采用2005-2013年我国A股上市公司数据,考察了垂直薪酬差异和平行薪酬差异对副总经理的筛选效应。同时,由于不同产权性质企业的高管职位晋升机制和薪酬制度存在差异,这可能会影响薪酬差异对副总经理的筛选效应,因而本文还考察了不同产权性质企业的垂直薪酬差异和平行薪酬差异对副总经理的筛选效应的差异。研究发现,垂直薪酬差异和平行薪酬差异越高,则副总经理主动离职率越高,说明垂直薪酬差异和平行薪酬差异均会对副总经理产生负向的筛选效应;与非国有企业相比,垂直薪酬差异和平行薪酬差异对国有企业副总经理主动离职率的正向影响更大,说明垂直薪酬差异和平行薪酬差异对国有企业副总经理的负向筛选效应要强于非国有企业。进一步研究还发现,垂直薪酬差异和平行薪酬差异均会通过副总经理主动离职率显著地间接负向影响公司绩效,说明垂直薪酬差异和平行薪酬差异对副总经理的筛选效应均会负向影响公司绩效。本文不仅拓展了薪酬差异对高管筛选效应的研究,还为薪酬差异通过高管主动离职行为对公司绩效的影响机制提供了经验证据。
薪酬差异、高管主动离职率与公司绩效
摘要
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引用本文
梅春, 赵晓菊. 薪酬差异、高管主动离职率与公司绩效[J]. 外国经济与管理, 2016, 38(4): 19–35.
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