A Study of the Influence of Governance Structure with Listed Companies on the Salaries of Top Managers
This paper studies the factors that influence the top managers salaries with listed companies in China. To avoid the disadvantages of crosssectional study that had been adopted by previous studies, this study made a comprehensive analysis of the processed data of listed companies from 2005 to 2007 in a way of continuity study; also, a new variablethe ultimate controller was introduced to the variable of governance structure with listed companies. With a constructed multivariate linear regression model, the Person test and multivariate linear regression analysis results showed that size of the board, firm scale, firm performance, proportion of independent directors, dual position of general manager and chairman, and whether to establish a salary Committee or not were positively correlated to top managers salaries; and whether the ultimate controller is the public or not, the extent of stock ownership concentration indicated a negative correlative to top managers salaries; in addition, the size of the board of supervisors had a unstable impact on top managers salaries.
top manager salary, corporate governance structure the ultimate controller
Xiao Xiang
School of Economic and Management, Beijing Jiaotong University, Beijing, China, 100044
国际会议
2009 International Forum of Human Resource Strategy and Development(2009人力资源战略与开发国际高层论坛)
济南
英文
442-447
2009-10-24（万方平台首次上网日期，不代表论文的发表时间）