本文選題：高管薪酬　切入點：銀行穩(wěn)定性　出處：《吉林大學(xué)》2014年碩士論文

【摘要】：高管薪酬可以認為是對其努力與貢獻的回報，但是高管的薪酬和績效之間的關(guān)系是不對稱的，發(fā)生極大損失時高管薪酬卻沒有相應(yīng)的下降。過多的高管薪酬能有效地激勵高管盡力提高銀行績效，但又會導(dǎo)致倒閉風(fēng)險的劇增。高管薪酬與銀行穩(wěn)定性關(guān)系許多學(xué)者進行了不斷的研究與探索，對此有兩個觀點，其中道德風(fēng)險理論不適合解釋中國金融市場的實際情況，其原因在于中國不存在存款保險制度，但存在較高的國有股東比率。然而在所有權(quán)與控制權(quán)分離的情況下，通常存在委托代理問題。根據(jù)委托代理理論，高管薪酬的負面影響歸因于從委托代理關(guān)系產(chǎn)生的殘余成本，即經(jīng)理人的決策不完全符合股東意圖。 這就是世界各國經(jīng)過金融危機后，爭先出臺‘限薪令’的原因，中國財政部2009年初也發(fā)布《金融類國有及國有控股企業(yè)負責(zé)人薪酬管理辦法-征求意見稿》，盡管符合世界金融市場改革趨勢，但是就受較多管制的產(chǎn)業(yè)容易失去國際競爭力，不利于留住較好的人才。因此，本文采用委托代理理論對于高管薪酬與銀行穩(wěn)定性指標(biāo)之間的相關(guān)性進行實證分析，結(jié)果發(fā)現(xiàn)現(xiàn)金高管薪酬與銀行穩(wěn)定性之間存在顯著的負相關(guān)性關(guān)系，而總高管薪酬與銀行穩(wěn)定性沒有明顯的相關(guān)性，薪酬績效彈性與銀行穩(wěn)定性之間沒有相關(guān)性，最后信用貸款比率與高管薪酬之間存在正相關(guān)關(guān)系，而與房地產(chǎn)與建筑業(yè)貸款比率不存在相關(guān)性。 根據(jù)上述實證分析結(jié)果，本文認為商業(yè)銀行通過強化股東決定薪酬的權(quán)利，確保薪酬委員會的對立性以及引入限制性股票激勵方式充分發(fā)揮薪酬激勵機制在商業(yè)銀行公司治理和風(fēng)險管控中的導(dǎo)向作用，同時建立健全科學(xué)有效的公司治理機制，以促進國內(nèi)商業(yè)銀行穩(wěn)健經(jīng)營和可持續(xù)發(fā)展。
[Abstract]:Executive compensation can be seen as a reward for effort and contribution, but the relationship between executive pay and performance is asymmetrical. Executive pay does not fall in response to heavy losses. Excessive executive pay can be an effective incentive for executives to do their best to improve bank performance. However, it will lead to a sharp increase in the risk of bankruptcy. Many scholars have studied and explored the relationship between executive compensation and bank stability, and there are two points of view, among which the theory of moral hazard is not suitable to explain the actual situation in China's financial market. The reason is that there is no deposit insurance system in China, but there is a high ratio of state-owned shareholders. However, in the case of separation of ownership and control, there is usually a principal-agent problem. The negative effect of executive compensation is attributed to the residual cost from the principal-agent relationship, that is, the manager's decision is not entirely in line with the shareholders' intention. This is why countries around the world, after the financial crisis, rushed to issue 'pay restraint orders'. At the beginning of 2009, the Ministry of Finance of China also issued "measures for the Management of compensation for Heads of State-Owned and State-owned holding Enterprises in Finance-draft for comments." although in line with the trend of financial market reform in the world, industries subject to more control are vulnerable to losing international competitiveness. Therefore, this paper uses principal-agent theory to analyze the correlation between executive compensation and bank stability index. The results show that there is a significant negative correlation between cash executive compensation and bank stability, but there is no significant correlation between total executive compensation and bank stability, and there is no correlation between compensation performance elasticity and bank stability. Finally, there is a positive correlation between credit loan ratio and executive compensation, but no correlation with real estate loan ratio and construction loan ratio. According to the above empirical analysis results, this paper argues that commercial banks strengthen the right of shareholders to determine compensation. To ensure the opposites of the compensation committee and the introduction of restrictive stock incentives to give full play to the guiding role of the compensation incentive mechanism in the corporate governance and risk management of commercial banks, and to establish a scientific and effective corporate governance mechanism. In order to promote the domestic commercial banks stable management and sustainable development.
【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F272.92;F832.33

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本文編號：1659814