The Study On Effect Of Company Growth And Salary Motivation To Top Executive Demission

The role of emerging GEM market in promoting the development of securities capital market and optimizing the resources allocation has become increasingly apparent.But since the GEM was formally founded at the end of 2009,it has been troubled by the “high PE ratio,high issue price and high raise funds” problems;the performance slowdown and the loss phenomenon highlight the growth shortage problem;besides,the executive salary motivation lose efficacy.All these problems caused executive turnover tide in the first year,and thereafter executive demission problem become even more intense.Executives are the backbones of the enterprises' healthy sustainable development,and maintaining their efficiency has always been the important problem in the development of enterprises.Executives demission problem has seriously affected the healthy sustainable development of the GEM listed companies and GEM market.The thesis selects sample data of 337 enterprises listed on GEM as the research foundation;and by building regression model,this thesis makes an empirical analysis on the relationship between the GEM listed companies growth,executive salary motivation and executive turnover characterized by leaving voluntarily,and finally draw some empirical conclusions following: the company growth,executive basic salary,executive basic salary incentive level and executive equity incentive level is respectively correlated negatively with the executives demission;the company growth is correlated positively with the executive basic salary and the executive shareholding rate;the company growth can adjust the negative relationship between the executive basic salary and the executive demission,also can adjust the negative relationship between the executive shareholding rate and the executive demission.This thesis aims to recognize the essential reasons behind the executive demission of GEM listed companies,so as to promote GEM listed companies' growth,improve GEM listed companies' executive incentive system,regulate the behavior of executive turnover,and ultimately facilitate the harmonious orderly sustainable development of the GEM market and GEM listed companies.