CAJ | 학술논문

运用多元回归模型对房地产行业上市公司高管薪酬的外部公平性与企业绩效关联性进行研究。实证表明，房地产企业高管薪酬外部不公平对企业绩效的影响并不显著，呈现出弱负相关性，正向不公平更容易侵蚀企业利润；国企与非国企性质上的差异并没有明显导致高管薪酬外部不公平对企业绩效作用的不同；房地产企业高管薪酬外部不公平与企业绩效的关联性在金融危机前后存在差异，后危机时代高管薪酬超额差距更有助于企业绩效的提升。
운용다원회귀모형대방지산행업상시공사고관신수적외부공평성여기업적효관련성진행연구。실증표명，방지산기업고관신수외부불공평대기업적효적영향병불현저，정현출약부상관성，정향불공평경용역침식기업리윤；국기여비국기성질상적차이병몰유명현도치고관신수외부불공평대기업적효작용적불동；방지산기업고관신수외부불공평여기업적효적관련성재금융위궤전후존재차이，후위궤시대고관신수초액차거경유조우기업적효적제승。
The correlation between the external equity of the executive emolument and corporate performance is examined with multiple regression models in this paper .The results show that there is no significant proof that shows a clear impact be-tween executive emolument external unfair and corporate performance .It just shows a weak negative correlation between them .The positive unfairness will eroded corporate profits more easily .The nature of different enterprises ( state-owned enter-prises and non-state-owned enterprises ) may not affect the impact on “unfairness-performance”.The correlation of “unfair-ness-performance” has a significant difference before and after the 2008 finance crisis.After the financial crisis, the extra gap of executive emolument will help the rise in firm performance .