中文摘要：

选取2003至2010年间三大地区、十一大类行业的207家民营上市公司作为样本，统计描述了高管薪酬的地区、行业差距。通过面板数据实证模型，分析了民营上市公司高管薪酬的影响因素。认为产权更为清晰、市场化导向更为明确的民营上市公司的高管薪酬受到经营业绩、资本结构、公司规模等因素的正向影响，在一定程度上发挥了激励作用。

英文摘要：

This paper discusses the influential factors of top managers＇salary by investigating 207 private listed companies in three regions and eleven industries from 2003 to 2010. The paper firstly shows regional and sectional discrepancy of top managers＇ salary statistically. Then it sets up a panel data model to analyze the influence factors on their salary, and finds that their has been positively correlation among business performance, capital structure and company size, which shows the salary system can give full play to its incentive functions.