【劳动经济学】The CEO Labour Market in China’s Public Listed Companies

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1 论文标题
The CEO Labour Market in China’s Public Listed Companies
2 作者信息
Alex Bryson, John Forth and Minghai Zhou
3 出处和链接（比如，NBER working paper No.11000）
http://cep.lse.ac.uk/pubs/download/dp1148.pdf
4 摘要
Using panel data for all of China’s public listed firms over the period 2001-2010 we examine
how firms have recruited and rewarded their executives over a decade of huge growth and
turbulence. CEO pay is sensitive to firm performance, although the elasticities are lower than
for the United States and Europe, especially with respect to returns on assets (ROA). CEO
pay rises with firm size and growth, with elasticities resembling those for the United States.
We find no dramatic response to the stock market crash of 2007/08. The elasticity of pay to
stock returns falls to zero after the crash, while  elasticities with respect to sales and ROA
remain significant.  Executive cash compensation  rose steeply throughout the period  – in
contrast to the United States. There are steep gradients in executive compensation within
firms, consistent with tournament prizes, and around two-thirds of CEO appointments are
internal promotions. Within-firm executive compensation rose at a faster rate than executive
compensation across firms, helping to explain why CEO turnover rates declined a little over
the decade. Turnover rates did not spike with the stock market crash. Privatisation and
reforms to corporate governance contributed to growth in executive compensation. A picture
emerges of an executive labour market in which firms are linking pay to performance and
relying on incentive structures within firms to foster executive talent.

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关键词：Companies Companie Compani Public listed 论文 经济学 链接 download China

这应该是比较新和全面对中国CEO工资做分析的论文。有助于我们了解中国高收入群体的状况，可以与欧美国家进行横向比较。

欢迎大家积极参与讨论！

休假也不忘了发贴啊，嘿嘿

linfaqin 发表于 2012-7-14 20:12
休假也不忘了发贴啊，嘿嘿

休假才有时间看论文嘛，嘿嘿。

1.CEO薪酬数据有的是税前，有的是税后，有的包含所有，有的只有基本工资。
2.民营CEO还要看是否是实际控制人本人、家族成员、朋友、职业经理人，由于股权成本低，家族更偏好通过分红来获得回报。
3.国有CEO薪酬很大部分可能仅仅是考核薪酬实际拿不到，要上缴集团；更重要的是国有CEO的官帽问题也导致薪酬异化；另外国有CEO与欧美存在较大差异的是还有晋升空间，可以升为上市公司董事长、集团高管（副总、总经理、董事长）、甚至升为ZF官员比如说国资委副主任主任等。

这个有意思，回头一定好好看看

seems a descriptive paper

luluxiyue 发表于 2012-7-14 20:14
这个有意思，回头一定好好看看

这论文简直就是标题党啊。conclusion那段文字出现了三次：abstract，introduction，conclusion。全是描述性语言。毫无出彩的地方。
这应该是行业报告之类的更合适吧？
初学者，言论若有狂妄之处，请指教

luluxiyue 发表于 2012-7-15 00:54
这论文简直就是标题党啊。conclusion那段文字出现了三次：abstract，introduction，conclusion。全是描述 ...

本文确实描述性质比较多。不过能有一定的统计描述，也有助于我们了解这个特殊群体。

至于重复引言导语和结论的问题，估计是因为本文尚处于草稿修改阶段，写作上没有精益求精。

labor market structure.