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以沪深两市制造业上市公司为研究对象,采用联立方程和主成分分析法,对我国上市公司高管薪酬与企业经营业绩之间的相关性进行了实证分析.主要结论是:1薪酬的增加会提高公司业绩,但并不是较为显著,2随着公司业绩的增加会显著增加管理层的薪酬,3前两者的结论并不是完全对称的.上述结论为完善我国上市公司激励机制提供实证参考依据.
Taking manufacturing listed companies in Shanghai and Shenzhen stock market as the research object, this paper uses simultaneous equations and principal component analysis to analyze the correlation between the executive pay and the business performance of listed companies in our country.The main conclusions are as follows: Increase is not significant, 2 the management’s salary will be significantly increased as the performance of the company increases.3 The conclusions of the former two are not completely symmetrical. The above conclusion is to improve the incentive mechanism provided by the listed companies in our country Empirical reference basis.