| The separation of ownership and management, made the principal-agent theory tobe produced, the principal-agent problem of owners and managers have become a hottopic in the current research. The performance of peer generally affected by exogenousshocks, the absolute performance evaluation theory is not outside influence completelyexcluded, and the relative performance evaluation theories to reject the effect ofexternal noise, causes the agent and the external reasons of isolation, which makes thetheory of relative performance evaluation plays an important role in the determinationof executive compensation.This paper selects the listed company in2008to the disclosure in2012as theresearch sample data, From the accounting return, stock return and the development ofthe company in three aspects to select targets, through data analysis that the studyresults, and puts forward corresponding suggestions Firstly, this paper reviews therelationship between relative performance evaluation and compensation in theoryexploration based on; secondly, to listing Corporation in China as the research object,data collection of selected samples, correlation by using descriptive analysis, correlationanalysis and empirical research method of regression analysis on China’s listingCorporation relative performance evaluation and compensation of analysis, according tothe model, verify the hypothesis, and then draw conclusions; finally, the results showthat, China’s listing Corporation has relative performance evaluation of certain evidence,there is a positive correlation between the hand and executive pay and stock returns, thedevelopment of the company, with no obvious correlation with the accounting returns.Hope that through this study, to encourage scholars to the research of relativeperformance evaluation theory aspect, the company can apply the theory to practice, toestablish a relatively complete relative performance evaluation system. |
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