An Empirical Study on Factors of Executive Compensation in Financial Listed Companies

摘要

On August of the year 2007,financial listed companies suffered an overwhelming decline in corporate performance,owing to the financial crisis,which mainly resulted from U.S.subprime mortgage crisis.However,corporate executives still get a high salary after the financial crisis.As a key component of corporate governance,executive compensation has been put into heated debate.This paper takes 30 China's financial listed companies as researching samples and selects these firms' relevant financial data of year 2007-2010.The paper mainly does factor and regression analyses to make empirical study on factor of top-management pay in financial listed companies.This paper concludes that ownership concentration and state owned shares (％) can substantially inhibited the growth of managerial pay.Executive compensation is positively correlated with firm size,location and managerial ownership.Corporate financial leverage,profitability,development capacity,the market value play a significant role in promoting executive compensation,whose impacts are displayed in a descending order.