董事薪酬与企业绩效

Director’s Compensation and Enterprise Performance

摘要: 企业绩效是企业价值最直观的表现，在提高公司绩效过程中，公司董事扮演着重要的角色。他们是企业众多的人力成本当中最重要的，一定程度上决定了公司未来的发展方向。通过对2016~2020年我国A股上市公司数据进行分析，研究董事薪酬与公司绩效之间的关系，研究发现，董事薪酬激励越多，越能提升企业绩效，同时，适当扩大企业规模、和董事持股比例以及降低公司的负债率对公司的绩效提升是有效果的。但是相较于其他经济发达国家，我国企业的董事激励制度还处于发展阶段，还在不断探索的过程中，仍需不断完善。

Abstract: Enterprise performance is the most intuitive expression of enterprise value. In the process of im-proving company performance, company directors play an important role. They are the most im-portant among the numerous labor costs of enterprises, and to some extent determine the future development direction of the company. By analyzing the data of China’s A-share listed companies from 2016 to 2020, this paper studies the relationship between directors’ compensation and com-pany performance. It is found that the more directors’ compensation incentives are, the better the company’s performance can be improved. At the same time, it is effective to appropriately expand the scale of the company, increase the shareholding ratio of directors and reduce the company’s debt ratio. However, compared with other economically developed countries, the incentive system of directors in Chinese enterprises is still in the development stage, and it is still in the process of continuous exploration, and it still needs to be continuously improved.