摘要
基于Devers等(2007)对高管薪酬前因与效应的系统回顾,并拓展张三保和康璧成(2020)对2008~2018年高管薪酬效应研究进展的归纳,本文结合管理、经济和会计等多学科视角,从个体、企业和环境等多层次主体着手,梳理2008~2020年高管薪酬前因研究的新进展,并提出未来研究方向。首先,从相关学科24本中英文重要期刊中甄选出198篇主题相关文章,回顾并比较13年间的研究进展。其次,阐释了影响高管薪酬水平和薪酬差距的前因、边界条件,并考察了中国情境下高管薪酬前因研究特殊性。再次,评述前述研究进展,并连接Devers等(2007)对高管薪酬前因研究的回顾,构建出1997~2020年高管薪酬前因的系统性分析框架。最后,结合中国情境指出了未来富有潜力的研究方向。
What factors influence senior executives’compensation level and gap has been the focus of academic research for a long time.Because Gomez-Mejia and Wiseman(1997)called for the study of executive compensation to be incorporated into other disciplines,the study of executive compensation has included a multidisciplinary perspective in management,finance and accounting.Given such situations,Devers et al.(2007)reviewed research in executive compensation from 1997 to 2007.In the past thirteen years,research on antecedents of executive compensation has proliferated in the management field and mainly covers three themes,i.e.,compensation level,compensation gap and the adjustment factor,from multi-subject and multi-view perspectives.Nevertheless,these studies are yet to be integrated.Based on Devers et al.’s(2007)multidisciplinary perspectives on executive compensation,we attempt to answer the following three questions by revisiting the progress of multidimensional and multidisciplinary research on the antecedents of executive compensation over the past thirteen years(2008-2020).First,what factors affect the level and gap of executive compensation at the individual-,firm-and environment-levels?Second,what are regulatory factors underlying the predictors?Third,are there certain unique factors in the study of antecedents of executive compensation based on the Chinese context?To answer the above questions,we first select the relevant papers published in 24 major English and Chinese journals over past thirteen years,and summarize the selected papers by year and theme.Second,we organize the factors and boundary conditions of the antecedents from the personal,organizational and environmental levels,and discuss the special factors predicting executive compensation in the Chinese context according to the specific institutional background in our country.Third,the causes and boundary conditions of the compensation gap are summarized from both vertical and horizontal dimensions,and the causes and countermeasures of the insufficient research on the compensation gap are discussed.Finally,we systematically summarize the expansion and progress in the content and methods of the research on the antecedents of executive compensation in the past 13 years,and compare the content,results and methods of the earlier research and the research during the same period.In the meantime,we also build a systematic analysis framework of executive compensation.In addition,combined with the analytic framework of executive compensation effects of Zhang and Kang(2020),we construct a complete research framework of antecedents and consequences of executive compensation.Finally,we put forward suggestions for future research from four aspects.First,researchers may dig deeper into the individual-level psychological traits and extend the environmental level discussion of the antecedents.Second,more work could be done to strengthen the compensation gap research and open up the exploring perspective of executive compensation gap.Third,research in this direction could also highlight national contextual differences and emphasize global market interactions.Last but not the least,we need to better operationalize the index with a more scientific measurement method.
作者
张三保
李雅婷
Sanbao Zhang;Yating Li(Economics and Management School of Wuhan University)
出处
《管理学季刊》
2021年第1期127-159,170,共34页
Quarterly Journal of Management
基金
国家自然科学基金面上项目“中国营商环境、总经理自主权与企业技术创新:制度基础观与高层梯队理论整合视角下的多层次研究”(72072137)
国家自然科学基金重点项目“转型升级背景下组织创新的多层因素及动态机制研究”(71632002)
中央高校基本科研业务费专项资金武汉大学自主科研项目(人文社会科学)“中国营商环境、战略领导与企业不端行为”(WHU18008)的资助。
关键词
高管薪酬
薪酬前因
薪酬水平
薪酬差距
中国情境
executive compensation
compensation antecedents
salary level
pay gap
Chinese context
