Research On The Factors Affecting The Employee Compensation Gap In The State-owned Listed Company Executives

September 2015,the State Council issued No.22 document about the policy of state-owned enterprises reform--"the guiding opinions on deepening the reform of state-owned enterprises",aiming at the problem of defects in the system of state owned enterprises,the document clearly put forward plans for the reform of the executive salary of state-owned enterprises.A new round of reform of state-owned enterprises for corporate executives will be used with the differentiated salary distribution method,salary will be distributed from mode of selection,functional properties of enterprises and business performance,more and more attentions will be focused on the fairness of salary distribution among executives and employees.Executives of state-owned enterprises selected by the selection and appointment system,and the engagement system,the selection and appointment system in accordance with the state public servant system confirm executive salary,appointment system(professional managers)according to the level of the same industry market confirm the executive salary.And for the national selection and appointment of senior executives,still need to study a salary system to stimulate the work enthusiasm of executives and employees,to adjust the fairness on every member,the system will make the pay gap of executives and employees to reach a reasonable level.So we need to conduct in-depth study,the factors which can affect the pay gap of corporate executives and employees,what kind of trend shows,whether the governance structure of State-Owned Company effect the pay gap,whether the company management system has defects.This paper mainly studies the factors that influence the gap between executive and employee pay from the factors of financial management and financial accounting perspective,providing the relevant information of support and the recommendations of policy about the reasonable interval for the pay gap of executives and employees.The innovations of this paper: Firstly,the domestic and foreign scholars mainly focus on analysis the salary gap between the internal and external senior executives,researching on the salary gap between executives and employees are few.Secondly,this paper mainly studies the factors that influence the salary gap between executives and employees in state owned listing Corporation,and the objection of study is the state-owned enterprises with Chinese characteristics.Thirdly,the existing literature studied the relationship between single factor or two factors and managerial pay gap,and did not analyze the specific factors which can affect the pay gap between executives and employees.And this paper also considers the effect of executive non monetary compensation on the gap of monetary compensation between executive.Firstly,describing and summarizing the literature review of domestic and foreign,understanding the research status of domestic and foreign scholars on the pay gap between executives and employees,providing the deficiency and vacancy about the current academic research,which leads to the research content of this paper.Secondly,analyzing the theoretical part of the paper.Put forward eight hypothesis of empirical research based on the governance theory,managerial power theory,tournament theory and behavior theory.Thirdly,analyzing the system background of the state-owned holding listing corporation about the salary gap between executives and employees,And from the annual,regional,industry views to describe the current situation of the salary gap between executives and employees.Analysis results show that: Companies in different regions and different sectors,the pay gap between executives and staff exist obvious difference,the overall pay gap is rising,but the increase in the amplitude decreases,which confirmed the "salary limit order" to the limit of executive pay.Again,to reduce the impact of the 2008 financial crisis on Chinese economy,this paper chooses the date of 2012-2014 year as the sample of study,according to the nature of the ultimate controller,the paper selects 752 state-owned holding listing Corporation as the research object,and puts forward the theoretical hypothesis,selects research variables,sets empirical model.Finally,making descriptive statistical analysis and correlation test on the main measurement variables in the empirical study,finding out factors that influence the pay gap between executives and employees through the empirical research results,using factor substitution method and tool variables method to verify the robustness of the results of the empirical study.On the basis of the above research results,this paper analyzes the current situation of the existence of the stated owned holding listing Corporation,and puts forward the corresponding policy suggestions,points out the deficiencies of the paper.I hope that this thesis will enrich the academic research on the influencing factors of the salary gap between executives and employees,and contribute to the setting of the executive compensation system of state owned listing Corporation in China.