A comparative study of the manipulation effects of CEO ownership on executive-employee pay gap between the fresh CEO and the senior CEO: evidence from the knowledge-based enterprises

摘要

Facing the research gap in the relationship between CEO ownership and executive-employee pay gap, drawing on the insights from the tournament theory and behavioral theory, the paper empirically examines and compares the effects of the ownership of the fresh CEOs and senior CEOs on executive-employee pay gap, by taking the knowledge-based enterprises as the research sample. Empirical results show that the senior CEO's ownership in a knowledge-based enterprise is positively related to the executive-employee pay gap, while there is no significant linear relationship between the fresh CEO's ownership and the executive-employee pay gap.