A survey of executive compensation contracts in China's listed companies

被引：33

作者：

Li, Yubo ^{[1
]}

Lou, Fang ^{[2
]}

Wang, Jiwei ^{[3
]}

Yuan, Hongqi ^{[4
]}

机构：

[1] Shanghai Univ, Sydney Inst Language & Commerce, Shanghai, Peoples R China

[2] Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China

[3] Singapore Management Univ, Sch Accountancy, Singapore, Singapore

[4] Fudan Univ, Sch Management, Shanghai, Peoples R China

来源：

CHINA JOURNAL OF ACCOUNTING RESEARCH | 2013年 / 6卷 / 03期

基金：

中国国家自然科学基金;

关键词：

Executive compensation; Voluntary disclosure; Incentives; Performance measures;

D O I：

10.1016/j.cjar.2013.06.001

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We analyze 228 executive compensation contracts voluntarily disclosed by Chinese listed firms and find that central-government-controlled companies disclose more information in executive compensation contracts than local-government-controlled and non-government-controlled companies. Cash-based payments are the main form of executive compensation, whereas equity-based payments are seldom used by Chinese listed companies. On average, there are no significant differences in the value of basic salaries and performance-based compensation in executive compensation contracts. But, compared with their counterparts in non-government-controlled companies, executives in government-controlled companies are given more incentive compensation. Accounting earnings are typically used in executive compensation contracts, with few firms using stock returns to evaluate their executives. However, the use of non-financial measures has increased significantly since 2007. (C) 2013 Production and hosting by Elsevier B.V.

引用

页码：211 / 231

页数：21

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