Research on Relationship between Private Benefits of Control and Top Ezecutive Compensation in Double Agent Theory——An Empirical Study of Equity Transfer in Chinas Listed Companies

摘要：

This paper studied the relationship between PBC and top executive compensation by simultaneous equation. Findings show according to 2SLS estimation that a coefficient between PBC and top executive compensation is 9.461 in PBC equation,and that a coefficient between expropriation and top executive compensation is 0.012 in top executive compensation equation. The results indicate that the impact of the top executive compensation to the PBC is greater than that of the expropriation interests of controlling shareholders to the top executive compensation.

关键词： top ezecutive compensation equity transfer private benefits of control (PBC)

作者: Ma Xiao Li Gao-jin

作者单位: School of Management,China University of Mining and Technology,Xuzhou,P.R.China Xuzhou Air Force College,Xuzhou,P.R.China

会议类型: 国际会议

会议名称: 2009 IEEE 16th International Conference on Industrial Engineering and Engineering Management(IEEE第16届工业工程与工程管理国际学术会议)

会议地点: 北京

会议语种:英文

页码: 838-842

在线出版日期: 2009-10-21（万方平台首次上网日期，不代表论文的发表时间）