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公司高管团队内薪酬差距主要指CEO薪酬水平同其他高层管理人员之间的薪酬数额的差别。本文对我国上市公司内高层管理人员薪酬差距和公司未来绩效之间关系进行了检验 ,发现二者之间具有显著的正向关系 ,大薪酬差距可以提升公司绩效。该结果支持薪酬激励的锦标赛理论而不是行为理论。本文还发现 ,影响我国公司薪酬差距的主要因素不是公司外部市场环境因素和企业自身经营运作上的特点 ,而是公司治理结构。本文认为 ,我国上市公司应适当提高薪酬差距以维持足够的锦标赛激励能量 ,而提高薪酬差距的主要出路在于进行治理结构改革。
The pay gap in the senior management team of a company mainly refers to the difference between the salary level of CEO and the remuneration of other senior management. This paper examines the relationship between the remuneration gap of senior executives and the future performance of the listed companies in our country and finds that there is a significant positive relationship between the two. The large remuneration gap can improve corporate performance. The result supports pay-incentive championship theory rather than behavioral theory. This paper also finds that the main factor that affects the pay gap in our country is not the external environmental factors of the company and the characteristics of the company's own operation but the corporate governance structure. This paper argues that the listed companies in our country should raise the pay gap properly to maintain sufficient incentive energy for the tournament. The main way to improve the pay gap is to reform the governance structure.