上市公司资本结构与高管薪酬水平关系研究.doc
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上市公司资本结构与高管薪酬水平关系研究,15200字自己的原创毕业论文，仅在本站独家提交，大家放心使用摘要随着现代企业制度的建立和社会主义市场经济的发展，高管薪酬越来越受到人们的关注。在企业所有权与经营权出现分离的情况下，高管人员掌握着企业的实际资源，对公司的重大决策、经营发展和价值创造都有着重大影响。因此，提高公司管理...
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上市公司资本结构与高管薪酬水平关系研究
15200字
自己的原创毕业论文，仅在本站独家提交，大家放心使用
摘 要
随着现代企业制度的建立和社会主义市场经济的发展，高管薪酬越来越受到人们的关注。在企业所有权与经营权出现分离的情况下，高管人员掌握着企业的实际资源，对公司的重大决策、经营发展和价值创造都有着重大影响。因此，提高公司管理人员的积极性，避免企业人才流失，管理人员的短期行为，成为社会各界日益关注的话题，高管薪酬的影响因素的研究是必不可少的。同时，随着我国市场经济体制的建立和完善，近年来我国上市公司高管薪酬逐渐趋于市场化定价，薪酬总额不断提高。这一方面显示了稀缺的高级管理人才的价值，对激起经营管理者的工作热情和刺激社会人力资本积累的动力有着促进作用，另一方面激增的高管薪酬又引起了对分配不均的讨论。尤其是金融危机后，高管薪酬逆市而上，甚至显示出与公司经营业绩的不一致性，引起社会的广泛质疑。那么研究我国上市公司高管薪酬的影响因素就势在必行。在以往的文献中资本结构对高管薪酬的影响研究较少，但是从相关的研究中也能够看出资本结构对高管薪酬的影响是举足轻重的，因此本文旨在研究资本结构与高管薪酬的关系。
本文在研读相关文献的基础上，对高管薪酬和资本结构进行理论分析，并据此设计出变量指标，提出假设。之后选取2009 至 2012 年上海证券交易所上市的公司为研究样本，并借助stata软件对其进行实证分析，建立模型，剖析资本结构与高管薪酬之间的关系。在实证研究中，通过描述性统计分析，分析出我国上市公司高管薪酬和资本结构的现状；进行相关性检验，分析各变量之间的关系；最后进行回归分析，根据回归结果分析资本结构和高管薪酬之间的关系，并据此提出建议。
关键词：高管薪酬 资本结构 实证研究
ABSTRACT
With the establishment of the modern enterprise system and the development of the socialist market economy, people pay more and more attention to executive compensation. In the case of corporate ownership and management separation, executives hold the actual resources of the enterprise, and have a significant impact on the company's major decisions, business development and value creation. Therefore, improving corporate executives’ motivation, avoiding brain drain and short-term behavior of corporate executives, are becoming the social from all walks of life increasingly concerned about the topic. Studies of the factors which influence the executive compensation are indispensable. At the same time, with the establishment and perfection of market economy system in China, China's listing Corporation executive compensation gradually become market-oriented pricing in recent years , and total compensation also increase. This reflects the value of scarcity senior management personnel, and help to stimulate managers’ enthusiasm and stimulate power of social human capital accumulation. Especially after the financial crisis, executive compensation buck the trend, and even showed a non-matching with the management performance of the company, which causes social widespread questioning. Then, the study on China's listing Corporation executive compensation factors is imperative. In the past literature, the research about capital structure’s influence on executive compensation is few, but the related study also shows the influence of capital structure on executive compensation is essential. Therefore, this paper aims to study the relationship between capital structure and executive compensation.
Based on the relevant literature research, this article conducts the theoretical analysis on executive compensation and capital structure, and accordingly designs variables index, and makes assumptions. Then this paper selects 2009 to 2012 companies listed in Shanghai Stock Exchange as research samples, and makes an empirical analysis of it with the aid of stata software, and establishes the model, and analyses the relationship between capital structure and executive compensation. In the empirical study, the paper uses descriptive statistical analysis methods to analyze the status quo of China's listed companies’ executive compensation and capital structure; conducts correlation test to analyze the relationship between variables; finally, conducts regression analysis, and analyzes the relationship between capital structure and executive compensation based on the regression results, and make recommendations accordingly.
Key words：executive compensation capital structure empirical analysis
目 录
引 言 - 1 -
1 资本结构与高管薪酬概述 - 1 -
1.1 资本结构概述 - 2 -
1.2 高管人员概述 - 2 -
1.3 高管薪酬概述 - 2 -
1.4 上市公司资本结构与高管薪酬关系的理论分析 - 2 -
2 上市公司资本结构与高管薪酬关系实证研究设计 - 4 -
2.1 样本选择和数据来源 - 4 -
2.2变量选择 - 4 -
2.3假设提出 - 8 -
2.4模型构建 - 8 -
3 上市公司资本结构与高管薪酬关系实证过程及结果分析 - 9 -
3.1 描述性统计分析 - 9 -
3.1.1 高管薪酬的描述统计分析 - 10 -
3.1.2 资本结构的描述统计分析 - 10 -
3.2 相关性检验 - 10 -
3.3 回归分析 - 11 -
3.4 实证结果及分析 - 15 -
4 完善上市公司资本结构，合理确定高管薪酬水平的建议 - 15 -
4.1 完善上市公司高管人员薪酬激励机制 - 15 -
4.2 健全公司业绩指标评价体系 -..
15200字
自己的原创毕业论文，仅在本站独家提交，大家放心使用
摘 要
随着现代企业制度的建立和社会主义市场经济的发展，高管薪酬越来越受到人们的关注。在企业所有权与经营权出现分离的情况下，高管人员掌握着企业的实际资源，对公司的重大决策、经营发展和价值创造都有着重大影响。因此，提高公司管理人员的积极性，避免企业人才流失，管理人员的短期行为，成为社会各界日益关注的话题，高管薪酬的影响因素的研究是必不可少的。同时，随着我国市场经济体制的建立和完善，近年来我国上市公司高管薪酬逐渐趋于市场化定价，薪酬总额不断提高。这一方面显示了稀缺的高级管理人才的价值，对激起经营管理者的工作热情和刺激社会人力资本积累的动力有着促进作用，另一方面激增的高管薪酬又引起了对分配不均的讨论。尤其是金融危机后，高管薪酬逆市而上，甚至显示出与公司经营业绩的不一致性，引起社会的广泛质疑。那么研究我国上市公司高管薪酬的影响因素就势在必行。在以往的文献中资本结构对高管薪酬的影响研究较少，但是从相关的研究中也能够看出资本结构对高管薪酬的影响是举足轻重的，因此本文旨在研究资本结构与高管薪酬的关系。
本文在研读相关文献的基础上，对高管薪酬和资本结构进行理论分析，并据此设计出变量指标，提出假设。之后选取2009 至 2012 年上海证券交易所上市的公司为研究样本，并借助stata软件对其进行实证分析，建立模型，剖析资本结构与高管薪酬之间的关系。在实证研究中，通过描述性统计分析，分析出我国上市公司高管薪酬和资本结构的现状；进行相关性检验，分析各变量之间的关系；最后进行回归分析，根据回归结果分析资本结构和高管薪酬之间的关系，并据此提出建议。
关键词：高管薪酬 资本结构 实证研究
ABSTRACT
With the establishment of the modern enterprise system and the development of the socialist market economy, people pay more and more attention to executive compensation. In the case of corporate ownership and management separation, executives hold the actual resources of the enterprise, and have a significant impact on the company's major decisions, business development and value creation. Therefore, improving corporate executives’ motivation, avoiding brain drain and short-term behavior of corporate executives, are becoming the social from all walks of life increasingly concerned about the topic. Studies of the factors which influence the executive compensation are indispensable. At the same time, with the establishment and perfection of market economy system in China, China's listing Corporation executive compensation gradually become market-oriented pricing in recent years , and total compensation also increase. This reflects the value of scarcity senior management personnel, and help to stimulate managers’ enthusiasm and stimulate power of social human capital accumulation. Especially after the financial crisis, executive compensation buck the trend, and even showed a non-matching with the management performance of the company, which causes social widespread questioning. Then, the study on China's listing Corporation executive compensation factors is imperative. In the past literature, the research about capital structure’s influence on executive compensation is few, but the related study also shows the influence of capital structure on executive compensation is essential. Therefore, this paper aims to study the relationship between capital structure and executive compensation.
Based on the relevant literature research, this article conducts the theoretical analysis on executive compensation and capital structure, and accordingly designs variables index, and makes assumptions. Then this paper selects 2009 to 2012 companies listed in Shanghai Stock Exchange as research samples, and makes an empirical analysis of it with the aid of stata software, and establishes the model, and analyses the relationship between capital structure and executive compensation. In the empirical study, the paper uses descriptive statistical analysis methods to analyze the status quo of China's listed companies’ executive compensation and capital structure; conducts correlation test to analyze the relationship between variables; finally, conducts regression analysis, and analyzes the relationship between capital structure and executive compensation based on the regression results, and make recommendations accordingly.
Key words：executive compensation capital structure empirical analysis
目 录
引 言 - 1 -
1 资本结构与高管薪酬概述 - 1 -
1.1 资本结构概述 - 2 -
1.2 高管人员概述 - 2 -
1.3 高管薪酬概述 - 2 -
1.4 上市公司资本结构与高管薪酬关系的理论分析 - 2 -
2 上市公司资本结构与高管薪酬关系实证研究设计 - 4 -
2.1 样本选择和数据来源 - 4 -
2.2变量选择 - 4 -
2.3假设提出 - 8 -
2.4模型构建 - 8 -
3 上市公司资本结构与高管薪酬关系实证过程及结果分析 - 9 -
3.1 描述性统计分析 - 9 -
3.1.1 高管薪酬的描述统计分析 - 10 -
3.1.2 资本结构的描述统计分析 - 10 -
3.2 相关性检验 - 10 -
3.3 回归分析 - 11 -
3.4 实证结果及分析 - 15 -
4 完善上市公司资本结构，合理确定高管薪酬水平的建议 - 15 -
4.1 完善上市公司高管人员薪酬激励机制 - 15 -
4.2 健全公司业绩指标评价体系 -..
