高管-员工薪酬差距与企业绩效的实证研究--基于传统制造业和高科技制造业的对比

选取246家沪深 A 股制造业公司2009—2013年的数据，在对比传统制造业和高科技制造业的基础上，对高管—员工薪酬差距与企业绩效的关系做了实证分析。研究发现：（1）无论传统制造业还是高科技制造业，高管—员工薪酬差距与企业绩效均呈显著正相关；（2）在传统制造业内，企业规模表现为显著地正向增强二者之间的关系，在高科技制造业内，企业规模的影响也表现为正相关，但不显著；（3）在传统制造业内，员工人数表现为显著地负向加大薪酬差距的作用，在高科技制造业内，员工人数的影响则表现不显著，且为正相关。

Empirical Research on Correlation Between Executive-Employee Compensation Gap and Firm Performance:Comparison of Traditional Manufacturing and High-Tech Manufacturing Industries

In addition to a contrast between traditional manufacturing industries and high-tech manu-facturing industries,this paper gave an empirical analysis of the relationship between executive-em-ployee compensation gap and firm performance in the listed companies,basing on the data collected from 246 Shanghai and Shenzhen A share manufacturing companies from 2009 to 2013.This study finds that in both traditional manufacturing industries and high-tech manufacturing industries,there is a prominent positive correlation between executive-employee compensation gap and firm performance;besides,in traditional manufacturing industries,the enterprise scale significantly strengthens the posi-tive correlation,and also,in high-tech manufacturing industries,the enterprise scale strengthens this positive correlation,too,but not significantly;as for the staff number,it markedly weakens the im-pact of executive-employee compensation gap on firm performance,however,in high-tech manufactur-ing industries,the staff number shows negatively and not markedly.