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Of food executives of listed companies pay performance-related research

Author: YangShanLin¡¡DuZhongDe From: www.yourpaper.net Posted: 2009-05-20 19:15:09 Read:
[Abstract] In this paper, in order to of China's food listed on the class of Company as the research object, provided by from the listed companies in China Wide Web food and beverage class listed companies the selection of list of in the 30 home has, representative of the company as a sample, combined with to data released by by the the Listing annual report of the Company, To investigate the the the the relationship between the in the the Remuneration and results of the executives personnel. By analyzing the drawn between the two there is a obvious correlation, that is, the remuneration of of the executives be able to and the the company's performance well peg to. Description the currently the system of remuneration of the the food class listed companies is very successful, it is worth a wide range of the promotion and adoption of.
[Key words] executive pay company performance-related pay system

With the the the in 2008 "melamine" after the incident, the the the state canceled the the the food Inspection-free Ordinance, food safety more and more subject to the concern of of the Chinese people, the food enterprises also pushed to the the the waves of major media in, most of them are to discuss their topic. Many people think that such a disorder of the food industry, mainly due to incompetent executives, a highly paid, but can not perform its duties well. The food industry has its own unique the characteristics of, with those in the iron and steel industry, the manufacturing industry and and so on on has a are many different points, many places might for the well the mass the understand the, this article in order to the of this unique groups as the research object, To investigate the the has a of remuneration for senior executives whether and performance of the company close the relevance, namely, the Remuneration whether the can play a a good incentive the role of.

First, choose from listed companies to start

In view of the listed companies is the the the highest form of of the modern enterprise system, from the the the information availability of the the governance structure of of sexual, authenticity and internal, management mechanisms, and and other aspects to consider, this is undoubtedly is to study the to the the of a class of samples of the the executives emoluments and Particulars of Shareholding condition of of the Chinese enterprises is better groups. The the reality of effect of of the listed companies high-rise management personnel remuneration income, you can for the analysis of the market the status quo of the of entrepreneurs the value of in China to to provide the a more convincing evidence.
Consider, for In addition, the in practical work the promotion of the difficulties that may be encountered, first of all start from the the listed companies, not only conforms to Over the years, the our country has "the experimental One Promotion -" gradual reform mode, but also the Governance Structure and implementation of the conditions of the As the listing of as the affairs of the company of the are relatively more favorable, the demonstration effect of the listed companies is the most obvious. Joint-stock's goal is to Want to build to to adapt to rules of market economy to, in line with the the legal person governance structure the requirements of by the modern enterprise system, those to undergo a rigorous sieve
Selected and restructuring of listed companies is considered to be a model for governance structure.

Second, choose the senior management as a main object of study

The practice of the development of domestic and foreign enterprises have proved to be able to beat the company, there are two common characteristics: First, senior managers with long-term strategic vision; senior leadership team stability. The issue of compensation of of the high-rise management personnel, namely, the owner of the how to motivate, constraint the problem of the senior management personnel of the is the the the core issue of of the modern enterprise system.
Incentive has two levels, one is the owner of the senior management incentive management incentives for employees. The owners should be concerned about how to mobilize the enthusiasm of the senior management, senior management should be through their own management capabilities, establish a sound management system, in order to motivate the general enthusiasm of the staff. Only in the the after the the the incentive problems of the the first one level of is to solve the, the might it be solved the the problem of the the second level.

Third, the. An Empirical Study

In this study, the selection of 30 of China's food listed company annual report data an empirical analysis of its executive pay and company performance.
By listed companies executive compensation and company performance data, the use of the more popular social science statistical software SPSS11.5 for windows, draw the correlation between the two parameters, which determine both linear correlation . If relevant, Description the remuneration system be able to be a very good associated with the performance of the company, the existing the remuneration of system be able to play a very good incentive the role of; If you do not related, is illustrated in failed to play a a good role in incentive.
The A research component on this article Positivism and uses a the the Data of Listed Companies of the provided by the "food and beverage class" by the China listed companies Wide Web, select the thirty of Company from a. Alcohol and alcoholic beverage manufacturing, food and feed processing industry, sugar industry, soft drink manufacturing industry, food processing industry, processing industry of slaughtering and meat, eggs, salt processing industry, canned food manufacturing each selected sample Avoid in a local industry, local area sampling too much, resulting in sample distribution unreasonable loss of fairness. Variables describing the performance of the company from the annual reports of listed companies. The paper earnings per share, net assets per share, ROE three indicators to examine the company's profitability and development capacity. Executives held by the the income of of the stock and options due to not be able to accurate statistics on the, and the of the price of the stock subject to the impact of factors a lot of, such as the economic situation at home and abroad, the industry situation, macroeconomic regulation and control, and and so on on, find it difficult to given a reasonable pricing, at the same time the a lot of of the the not yet been adopted held of the Company as shares and Option Incentive way, although it may be will cause the the a certain degree of the error and the the unreasonableness of the, but has little effect on, so the temporarily will him in considering the in the the within the of the of the the scope of the remuneration, do not is credited to the to an annual salary of in the.

According to these data in the above table, the remuneration of senior executives as the Y, performance indicators earnings per share, net assets per share, return on net assets data were X1, X2, X3, the correlation matrix, as shown in Table 2.
This paper, the number of samples is 30, the correlation coefficient test table? Cut = 5% corresponds to a value of 0.459, we get Y and X1 correlation coefficient of 0.561 is greater than 0.459, that executive compensation results of each The shares the revenue there is a obvious, linear relationship between the. The the the correlation coefficient of Y, and X3 for the to 0.474 is greater than 0.459, that is, can Description the in the the Remuneration and performance of the company of the executives personnel Return on net assets rate of there is a obvious linear the relationship between. Y and X2 correlation coefficient of 0.111 less than 0.459, the net assets per share is not significant linear relationship between executive compensation and company results, net assets per share due to changes in a longer period of time, failed to from the the data on the in a timely manner the performance of come out, at the same time the a in the the performance of the company the share of by an assets of a per share, net the right to more also and the smallest weight.

IV Conclusion

From the on the the above-mentioned analysis can be seen, the the the the remuneration of of the food class executives of listed companies personnel and the the company's performance there is a clear linear relationship between the, can be drawn the current system of remuneration and the company's performance to can be very good linked to, in the the be able to on the a certain extent, play a very good incentive a role in. Description the currently the system of remuneration of the the food class listed companies is very successful, it is worth a wide range of the promotion and adoption of.
From the the the company's point of view, we the departure, To investigate the the the correlation between the the remuneration and results, to look forward to a pay a the of a harvest of the can be obtained, but the it is undeniable the company's performance at the same time also affected by a a lot of of the impact of of the factors, For example, the 2008 the global financial crisis is bound to affect the level of many the company's performance, taking into account the these crises is an objective exist, If you the departure from the the perspective of of the social harmony, we should also be taking into account the existence of these factors, in the the pursuit of the at the same time of related to the Remuneration and performance linear, should also be to Concerned about the the various factors into account affect the. Because an important means of remuneration of company management, but not the only way.
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