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本文运用经济学的数量分析法分析了CEO薪酬、并购动机与权力寻租的内在机理。研究结果表明,CEO薪酬、并购动机与权力寻租具有天然的内在联系。CEO并购的主要动机就是通过权力寻租获取薪酬等私有收益,企业并购为CEO权力寻租、获取高额报酬等私有收益提供了方便,权力寻租是CEO通过并购获取个人薪酬等私有收益的重要手段。研究结果对抑制CEO权力寻租行为具有一定的指导意义。
This essay uses the quantitative analysis of economics to analyze the intrinsic mechanism of CEO pay, motivation of mergers and acquisitions and power rent-seeking. The results show that CEO remuneration, merger motivation and power rent-seeking have a natural inherent relationship. CEO’s main motivation for mergers and acquisitions is to obtain personal income such as remuneration through rent-seeking, M & A provides convenience for CEO’s power rent-seeking, access to high returns and other private benefits, and power rent-seeking is important for the CEO to obtain private benefits such as personal remuneration through mergers and acquisitions means. The results of the study have some guiding significance for restraining the CEO’s rent-seeking behavior.