上市公司总经理报酬业绩敏感性研究
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财经研究 2004 年 第 30 卷第 12 期, 页码：35 - 44
摘要
参考文献
摘要
文章分析了公司的收益波动、公司财务杠杆、公司规模、董事会治理、大股东治理、经理自利特征对我国上市公司总经理报酬业绩敏感性的影响,发现前五个特征对报酬业绩敏感性无显著影响,但是总经理的双重身份、董事身份和其在董事会中任期这三个经理自利特征对报酬业绩敏感性有显著影响;更重要的发现是,当公司业绩变好时报酬业绩敏感性增加,当公司业绩下滑时报酬业绩敏感性减小,而总经理双重身份和其在董事会中任期这两个经理自利特征使报酬业绩敏感性进一步降低。
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[3]NMStoughton,ETalinor.managerialbargainingpowerinthedeterminationofcompensationcontractsandcorporateinvestment[J].InternationalEconomicReview,1999,Vol.40.
[4]MJConyon,SIPeck.Boardcontrol,remunerationcommittees,andtopmanagementcompensation[J].AcademyofManagemntJournal,1998,Vol.41.
[5]HANewman,Hamozes.DoesthecompositionofcompensationcommitteeinfluenceCEOcompensationpractice[J].FinancialManagement,1999,Vol.28.
[6]BKPetronic,Asafiedoline.Ownershipconcentrationandsensitivityofexecutivepaytoaccountingperformancemeasures:Evidencefrompubliclyandprivately heldInsurancecompanies[J].JournalofAccountingandEconomics,1999,Vol.28.
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[8]JECore,RWHolthausen,DFLarcker.Corporategovernance,chiefexecutiveofficercompensation,andfirmperformance[J].JournalofFinancialEconomics,1999,Vol.51.
引用本文
肖继辉, 彭文平. 上市公司总经理报酬业绩敏感性研究[J]. 财经研究, 2004, 30(12): 35–44.
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