本文基于2006-2014年我国保险行业上市公司面板数据,以公司董事、监事和经理层年度薪酬总额、金额最高的前三名董事薪酬总额和金额最高的前三名经理层薪酬总额三个指标衡量高管薪酬状况,同时以主营业务收入增长率、净资产增长率、总资产增长率三个指标衡量保险公司成长性,利用固定效应模型,检验了高管薪酬和保险公司成长性之间的关系。实证结果表明,我国保险公司高管薪酬和成长性呈现显著正相关关系,高管薪酬激励机制有效发挥了作用。最后,为进一步提高保险公司高管薪酬的激励效果,提出了相应的政策建议。
Based on the panel data of insurance industry listing corporation from 2006 to 2013,this paper uses total compensation of directors,supervisors and managers,total compensation of top three directors and total compensation of top three managers to measure executive compensation,and uses prime operating revenue growth rate,net asset growth rate and total assets growth rate to measure insurance company growth to study the relationship between executive compensation and insurance company growth by the fixed effect model.The results suggest that executive compensation is positive related to insurance company growth,and executive compensation incentive mechanism is effective.Finally,to further improve the incentive effect of executive compensation of insurance companies,this paper puts forward the corresponding policy recommendations.