| 高管团队薪酬差距与企业过度投资 |
| |
| 引用本文： | 熊婷,程博.高管团队薪酬差距与企业过度投资[J].软科学,2017(1):101-104. |
| |
| 作者姓名： | 熊婷 程博 |
| |
| 作者单位： | 1. 浙江农林大学 暨阳学院,浙江 绍兴,311800;2. 上海财经大学 会计学院,上海,200433 |
| |
| 基金项目： | 浙江省自然科学基金青年基金项目(LQ16 G020011) |
| |
| 摘 要： | 考察了高管团队薪酬差距对企业过度投资的影响，以及这种影响如何因企业所有权性质和机构持股比例不同而发生改变，以此为高管团队薪酬差距对企业投资行为的微观作用机制提供了新的经验证据。整体来看，高管团队薪酬差距每上升一个标准差，将使得企业过度投资程度平均下降12％。进一步的分析显示，高管团队薪酬差距对企业过度投资的抑制作用主要体现在非国有企业和机构持股比例高的公司样本中。
|
| 关 键 词： | 薪酬差距 过度投资 所有权性质 机构持股 |
Pay Gap and Over-investment of TMT |
| |
| XIONG Ting,CHENG Bo.Pay Gap and Over-investment of TMT[J].Soft Science,2017(1):101-104. |
| |
| Authors: | XIONG Ting CHENG Bo |
| |
| Abstract: | This paper analyzes the impact of TMT compensation gap to over-investment , and the influences diversify by the nature of entities'ownership and proportion of institutional ownership , in order to provide new empirical evidences to the im-pacts TMT compensation gap on corporate investment behavior in a microcosmic level .Overall, the compensation gap in-creases every one standard deviation , the extent of over-investment will decrease 12% on average .Additionally , extensive studies show the inhibition of compensation gap of over-investment is mainly reflected in samples of non-state-owned enter-prises, analysts highlights and companies with a higher proportion of institutional ownership . |
| |
| Keywords: | pay gap over-investment ownership institutional holdings |
| 本文献已被 万方数据 等数据库收录！ |
|
