CAJ | 학술논문

将企业生命周期纳入到对高管薪酬差距的实证研究中，选取2010－2012年中国上市公司面板数据，从企业特性角度分析了高管薪酬差距对公司业绩的影响，为我国上市公司完善高管薪酬激励制度提供了经验数据。研究结果显示：公司在制定高管薪酬差距时会因其所处的生命周期特点而有所不同，较成熟型企业来说，成长型企业通过增加薪酬差距的方式来达到激励公司业绩的效果更好。
장기업생명주기납입도대고관신수차거적실증연구중，선취2010－2012년중국상시공사면판수거，종기업특성각도분석료고관신수차거대공사업적적영향，위아국상시공사완선고관신수격려제도제공료경험수거。연구결과현시：공사재제정고관신수차거시회인기소처적생명주기특점이유소불동，교성숙형기업래설，성장형기업통과증가신수차거적방식래체도격려공사업적적효과경호。
By taking the life cycle of enterprise into the empirical research on executive compensation gap , and based on the panel data of the Chinese listed enterprises from 2010 to 2012 ,this paper examines the effect of executive compensation gap on firm performance from the perspective of enterprise characteris‐tics .And the results of research would provide the experiences for improving the system of executive compensation incentive of listed companies in China .T he results show that according to the characteris‐tics of corporate life cycles ,the companies will make different executive compensation gap .Growth companies improving equity incentive intensity and increasing compensation gap to achieve the company's performance are better than mature enterprises .