CAJ | 학술논문

基于中国上市公司数据检验高管继任来源对高管薪酬差距的激励效应,结果表明,无论核心高管继任来自内部还是外部,薪酬差距对业绩的激励作用都显著支持锦标赛理论;薪酬差距对业绩的激励作用与高管外聘比例正相关,即高管外聘比例较高时,锦标赛理论适用,而高管内部继任比例较高时,则行为理论具有较强的解释力。这为研究高管薪酬差距提供一个新视角,上市公司要合理安排核心高管和高管团队继任制度,进而考虑高管激励制度的整体设计。
기우중국상시공사수거검험고관계임래원대고관신수차거적격려효응,결과표명,무론핵심고관계임래자내부환시외부,신수차거대업적적격려작용도현저지지금표새이론;신수차거대업적적격려작용여고관외빙비례정상관,즉고관외빙비례교고시,금표새이론괄용,이고관내부계임비례교고시,칙행위이론구유교강적해석력。저위연구고관신수차거제공일개신시각,상시공사요합리안배핵심고관화고관단대계임제도,진이고필고관격려제도적정체설계。
This paper examines the incentive effects of executive succession sources on executive pay gap. The results show that both core executive successor from inside or outside,incentive pay gap significantly supports the theory of the tournament. The correlation between executive pay gap on performance incentives and the ratio of executives from the external is positive. The higher proportion of external executives,tournament theory applies,and the higher the proportion of executives internal successor,the behavioral theory has strong explanatory power. It provides a new perspective for the study of executive pay gap. A listed company need to make reasonable arrangements for executives and senior management team succession system,and then consider the overall design of executive incentive system.