我国上市银行高管薪酬与银行绩效的实证分析Word格式文档下载.docx

1、从高管薪酬激励的有效性来看，虽然我国商业银行高管薪酬的增加与每股收益指标保持高度同步的关系，但银行的资产收益率却反而下降，这反映出高薪并没有带来实际的高效，说明我国商业银行对高管提供的薪酬所起到的激励作用并不十分理想，成本控制能力不强，整体经营的资源配置不合理。根据实证的结论，本文针对银行高管薪酬激励制度存在的问题，认为进一步完善我国银行业高管薪酬制度还需要：建立健全业绩考核评价机制；健全完善上市银行高管薪酬信息披露制度；重视长期激励，完善组合激励；加强内部监督，完善银行治理机制等。关键词： 上市银行 高管薪酬 薪酬激励 经营绩效ABSTRACTThe banking industryis a

2、n important basic toour healthy operation of the economy.The development of the banking industryplays a decisive roleon the social economy,andthe banks executivesare playing a vital role on theiroperating performance. SinceChinas commercial banks reformed,doubts and concerns about the sky-high cost

3、of the banks executives are raising widespreadly.At the same time,withthe continuous advance of the reform and opening-up,foreign-funded banks which own the improved industrial structureand the advancedsenior managers compensation mechanismfully integrated intoour financialindustrycompetition. Howev

4、er Chinas commercial bankscompensation incentivesystem is not very perfect,the incentive effectto thesenior executivesis less far from than theforeign banks do,which causethe big loss of senior managers.Is the listedbank executives paymenttoo high?Whetherthe sky-high cost of the bankhave a great sig

5、nificance on the performance ofthe bank?How to makesenior executives payment andthe bank performanceachieve consistency?Howto take measuresto attractsenior executives to createmore value to our commercial banks?Faced with these problems,s commercial banks should make reasonable salary management sys

6、temto maximize their benefits.Based on therelated literature at home and abroad,this paper select 14 listed commercial banksas study samples.Collect therelevant financial datafrom 2009to 2013 and sort out intopanel data,then establishregressionmodel to do the research on the relationship between sen

7、ior executives payment and banks performance.The empirical results show that:the senior executives payment of the Chinas listed commercialbankhas a certain relationship with the bank performance,butthe incentive function of compensationis limited.This is because our senior managers compensation mech

8、anism paymore attention to the banks increased profitability, not the capital efficiency. Although the increase of the senior managers compensation and the per-share earnings index maintaina highly synchronousrelationship, but the banksreturn on assets index falls. It reflects that thehigh salarydid

9、nt bringactual efficiency. It shows thatthe senior managers compensation which Chinacommercial banksprovidedidnt make an ideal result,the cost control abilityis weak and the overall allocation of resources is irrational.Therefore, in this paper, aiming at solving the problems existing in Chinese exe

10、cutive compensation system, banks should take the following suggestions：reform Chinese banking executive compensation incentive system; improve the disclosure system of the listedexecutive compensation; highlight the long-term incentive, improve theincentive combination; strengthen internal supervis

11、ion and improve internal governance mechanism continuously etc.Key Words： Listed banks Senior Managers Compensation Compensation Incentive Performance of Listed Banks图 表 目 录图目录图0-1 研究技术路线图9图2-1 银行高管薪酬平均水平图23 图2-2 不同上市银行高管薪酬对比图24图3-1 car与ccar,roa与roe的散点图33表目录表3-1 选取变量的描述性统计结果30表3-2 各变量相关系数表31表3-3 模型汇

12、总34表3-4 回归方差分析34表3-5 回归系数表34表3-6 模型回归结果35绪 论0.1 研究背景和意义0.1.1 研究背景近年来，尤其是2008年全球金融危机爆发以后，金融业高管薪酬依然不断高涨，在得到政府支持的背景下演绎着收入神话。银行高管的天价薪酬问题一直引起全世界媒体和社会公众的讨论和质疑。当经济处于下滑状态时，高管的超高薪酬不仅会使普通员工心生反感情绪，影响社会公平，最终将不利于公司发展与社会稳定。因此,在全球金融危机和中国金融市场动辄成百上千万的天价薪酬的双重冲击下，社会民众的不满情绪日益高涨，并引起了国家决策层的强烈重视。2014年8月18日习近平主席在召开的中央全面深化改

13、革领导小组第四次会议中指出，中国必须加速推进国有企业高级管理人员的薪酬体制改革，降低主要国企高管薪酬，尤其是金融业和银行业，部分高管需减薪50%，同时迫切需要调整和限制企业高管人员的高价薪酬，建立一个完善的薪酬激励机制，以减缓社会分配不公的问题。随着我国全面开放金融市场，越来越多的外资银行踏入我国金融市场，不仅刺激我国经济迅猛发展，同时也给我国银行业带来更为激烈的竞争。但由于外资银行拥有完善的组织结构、先进的管理模式，尤其是他们科学的薪酬体系和激励机制，根据员工的综合业绩给予其高层管理人员和普通员工丰厚的报酬，这造成了我国很多银行高级管理人才的流失。在知识经济迅猛发展的时代，人力资源对现代企业的建设和发展起着越来越重要的作用，尤其是高管人员在企业的经营发展中有着举足轻重的地位，其工作的有效程度对公司的业绩和长远发展产生直接的影响。因此，各大企业高度重视人才的重要性，