کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5047590 1476276 2013 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
How do market forces affect executive compensation in Chinese state-owned enterprises?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
How do market forces affect executive compensation in Chinese state-owned enterprises?
چکیده انگلیسی


- This paper studies how market forces affect pay-performance sensitivity.
- We find that compensation increases gradually with the market forces in China's SOEs.
- Pay-performance sensitivity is enhanced by market-oriented reforms.
- But the external political forces hamper the effect of market forces on compensation.

This paper studies how the evolution of market forces affects executive compensation in China's listed state-owned enterprises (SOEs) from 2000-2007. Along with the progress of market reforms we find that the level of executive compensation increases gradually and the relation between compensation and performance becomes more sensitive. However, the effect of market forces on executive compensation in SOEs is limited by CEOs' political connections. Our findings suggest that introducing exogenous market forces alone may not be sufficient to ensure the effectiveness of governance structure in a transition economy.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: China Economic Review - Volume 25, June 2013, Pages 78-87
نویسندگان
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