中文摘要：

本文以我国房地产信贷市场为例，实证检验了银行高管薪酬激励与房地产信贷风险之间的联系。结果表明，总体上银行高管薪酬与房地产信贷风险呈现显著正相关，进一步的研究还发现两者之间存在倒u形关系，即高管薪酬开始增加时银行有较强的冒险动机，房贷增速加快，当超过某一临界值时薪酬继续提高，银行将趋于保守，房贷增速降低。而且不同类型银行间具有明显差异，平均而言，提高高管薪酬使得城市和农村商业银行更容易冒险，而国有和股份制银行则更可能变得谨慎。

英文摘要：

In this paper, through empirically testing the relationship between China＇s bank executive compensation and real estate lending, we find that real estate lending is positively related with bank executive compensation; furthermore the relationship is inverse ＂U＂ shaped. When executive compensation begins to increase, bankers take excessive risk by extending more real estate lending, after the threshold, bankers become conservative to reduce the credit. We also show that increased compensation generally promotes risk taking for city and rural banks, while prevents such action for national banks. The results have several implications for financial executive compensation reform.