董事会特征对中国上市公司高管薪酬的影响分析.pdfVIP

Abstract Fair and reasonable salary system is one of the important factors for any company to long-term development and growth, and it is also a problem that executives and ordinary employees are concerned about. However, in recent years, the difference of increasing or decreasing degree between senior executive compensation (SEC) and firm performance in listed company is very obvious, so that SEC become the focus of the public media again. As the decision institution of SEC, the effectiveness of board of directors has great influence on the level of SEC. Therefore, what kind of board governance is effective and whether the characteristics of board governance model will affect SEC of listed company in China. China’s listed companies have the different characteristics when compared with the listed companies in foreign countries; the particularity of board governance in China will affect firm performance and SEC. In the paper, the characteristics of board of directors mode of international mainstream are comparative studied, and then, the characteristics of board of directors mode of China are analyzed through using theoretical and empirical analysis method. Suggestions and countermeasure for improvement are proposed. The study provides guidance for optimization of board governance mode of listed companies and restriction senior executive compensation effectively. In the paper, the listed companies in China are regarded as research object, and board characteristics are taken as the breakthrough point. The correlation between board characteristics and SEC is studied. The board characteristics variable considers director board size,