公允价值变动、列报位置与高管薪酬契约

摘要

Since the new Chinese Accounting Standards (CASs)were enacted in the listed firms,the supervision de-partment has paid more attention to present the fair value change and its potential economic consequence in recent years. Chinese listed A -share firms have recognized the fair value change from 2008 to 2012,and this paper investigated the relationship between fair value change (FVC)and top executives′compensation.Results indicated that the impact of FVC through equity (FVCE)on top executives′compensation has decreased since the FVCE was presented in the In-come Statement.Meanwhile,there is no significant difference between the impact of FVC through Profit and Loss (FVC-PL)and that of FVCE on top executives′compensation.%新企业会计准则实施以来，如何列报公允价值变动及其可能的经济后果始终受到监管部门的关注，为此对中国 A 股上市公司2008－2012年间披露的计入资本公积的公允价值变动与高管薪酬的关系进行了实证检验。结果表明：计入资本公积的公允价值变动列报位置由所有者权益变动表增列入利润表之后，其对高管薪酬的影响有所降低；且与计入利润的公允价值变动损益对高管薪酬的影响不存在显著性差异。