Study On The Performance Of Agricultural Listing Corporation Executives’ Incentive

Along with the development of the new type of urbanization, urban and rural income gap is becoming more and more big, people begin to pay close attention from all walks of life pay system, especially the listed company of our country, their executive pay levels with the average employee compensation difference significantly more, a lot of executive compensation is two times the average salary of the society or even a few times, it is this unfair pay levels of national income gap is more and more big, the upset the people inside. So, in what hidden secrets behind this phenomenon? What is the reason that causes the unreasonable phenomenon? The income level of executives is directly related to enterprise’s profit level? With these problems, our public figures and the compensation of the scholars have also begun to study. In fact, the overall scale of China’s agricultural listed companies, corporate performance generally low, executives get lower income from the company, individual difference is obvious; Remuneration structure is unreasonable, form a single, compared to other industries of the listed company, agricultural listed companies pay system and management mechanism in the backward level. Because our country pay system has always been there are serious defects, lead to the executive performance and salary is not sensitive, managers and operators responsibilities chaos, a lot of serious problems such as unreasonable salary system. In order to solve the problem of the bad, to improve the salary system, the global many scholars began to analysis to explore the root causes of these problems. But, also should realize soberly, relative to foreign speaking, research on executive compensation problems in relatively backward in China, the results is not very obvious. We can from a large number of scholars both at home and abroad can be found in the study, the study of the agriculture industry of executive pay is really rare. Therefore, in order to give agriculture executive compensation incentive of listed companies to provide some objective facts, choose the csi released agricultural listed companies as the research object of this article, trying to find out executives monetary incentives and the relationship between the equity incentive and corporate performance, come to the conclusion that has reference value, and puts forward corresponding Suggestions.This thesis is divided into six chapters, remove the introduction to this chapter, the other five chapters are the analysis of the relationship between executive compensation and corporate performance.The first part is the introduction, first introduced in this paper, we study the market environment and expectations to achieve, and then summarized research on executive pay and performance related research conclusions have been achieved, finally will this paper studies the basic content, general structure and adopting the research methods such as one by one.Governance theory, the incentive mechanism of the second part is mainly from the connotation of corporate governance, including the four mechanisms and governance principles, etc, to introduce, first discusses the basic concepts of corporate governance and the big four incentive mechanism, and then from the incentive mechanism and governance effect, etc, to discuss the form of governance principle.The third part is the present situation of the agricultural listed company executive incentive. This paper discusses mainly the agricultural listed company structure, the composition of agriculture listed company executives and agriculture listed company executive incentive status in three aspects. Details listed companies and their respective connotation and composition, and then from two aspects of monetary incentives of executives and senior executives equity incentive, analyses the actuality of agriculture listed company executive incentive.The fourth part is the agricultural listed company performance. First of all, this paper discusses the connotation of the performance of listed companies and the choice of indicators, and then from the two aspects of business performance and market performance to agricultural listed company performance.The fifth part is to the agricultural listed companies empirical analysis inspection of executive pay and performance. Including the research hypotheses, data sources, sample selection, variable selection, model design. This paper USES econometric software, select 36 agricultural listed companies as research samples, collect data from 2010-2012, three years of research, first of all, to choose the indicators of statistical description, then executives monetary compensation and ownership and corporate performance of linear regression analysis and correlation test.The sixth part is the agricultural listed company executives’incentive mechanism to improve vision. On the basis of empirical research, finally get the following conclusion:the agricultural listed company executives did not present correlation between monetary compensation and company performance, executives’shareholding has significantly positive correlations with the company’s operating performance. According to conclusion put forward agriculture listed company executives incentive mechanism to improve vision, finally puts forward the type of executive incentive mechanism of listed companies improve:one is to establish a good market selection mechanism, increase the salary information transparency; Second is to improve the internal governance structure, its supervision and control is impact; Third, optimization design executive compensation system, improve fairness salary system; Fourth, adjust the salary structure diversification, to prevent corporate insider control.