Influencing Factors Of China’s Listed Companies Executives Payment Research

Under financial crisis background, and more and more workers lose their jobs, the company high tube salary does not reduce instead rises, which has caused populace’s disaffection absolutely. Specially WallStreet,Investment bank’s executives still obtained more than ten million bonuses. This causes the People to question that who decides the high tube salaries, do manages set high salaries for themselves or come by the system to restrain.This paper is on the foundation of principal-agent theory, human capital theory and managerial motivation theory, The result of the empirical research in this paper show that top manager compensation is effected by many factors. The demonstration indicated that top manager compensation positively correlates with company performance(EPS), company scale, and power balance with shareholder structure. The results also show that two post integration and stockholdings of managers have no significant effect on top manager compensation. Besides if we use EVA effieiency to measure company performance in stead of EPS, we found there was no significant relation between EVA efficiency and top manager compensation.