Research On The Impact Of Employee Salary Gap On Enterprise Performance Under The Background Of Mixed Ownership Reform ——Taking Fushun Special Steel And Xiangyang Bearing As Examples

Corporate pay gap has always been an important topic of academic research and has received wide attention from the society.As part of the research on corporate compensation system,the internal compensation gap has been discussed by the public.In particular,enterprises have been repeatedly exposed to the sky-high salaries of senior executives is a hot topic in society.With the continuous development of China's economy,the mixed ownership reform of state-owned enterprises has been deepened,and state-owned enterprises,as the core subject of reform,introduce other ownership shareholders to seek complementary,promotion and common development of different capital through the mixing of different ownership systems has become the main purpose of the mixed reform of existing enterprises.However,SOEs themselves are affected by national policies such as the "salary limit order" and other policies,and the market level of executive compensation within the enterprises is low.After the hybrid reform,the entry of capital from different ownership systems and the reduction of policy constraints by non-state-owned shareholders have increased the marketability of executive compensation within the enterprises,thus widening the pay gap between executives and employees.As the pay gap widens,will it affect the enterprise's operation and performance? What are the antecedent conditions for an enterprise to widen the pay gap at the same time? These are the questions that will be explored in this paper.On this basis,this paper selects two enterprises,Fushun Special Steel and Xiangyang Bearing,which were mixed at the same time in 2018 and are also in the steel manufacturing industry,as the research objects,and selects the financial data of the two enterprises from 2014 to 2020 as the samples,and uses the case study method and the normative research method to explore the impact of the executive-employee pay gap on the enterprise performance,as well as the impact of the enterprise in order to motivate What antecedents should be in place for employees to choose to enhance the intra-firm pay gap.The results of this paper show that:(1)the internal pay gap increases and the corporate performance increases with the expansion of the pay gap after the hybrid reform,and the corporate performance decreases when the corporate pay gap decreases,and there is a positive relationship between the two.(2)The expansion of internal pay gap is not unrestricted and arbitrary,but requires certain preconditions,such as good corporate management efficiency and smooth promotion channels within the enterprise.Only when enterprises have these elements,the role of enterprise pay gap expansion on enterprise performance will be more obvious,and simply expanding the pay gap may be counterproductive.At the same time,in order to exclude the effect of management changes on corporate performance,this paper analyzes the effect of corporate pay gap and corporate performance within the same management period,and analyzes it in conjunction with corporate non-financial elements such as changes in corporate equity structure and corporate management changes,and the conclusion still holds.The novelty of this paper is that previous studies on the pay gap have confirmed that the widening of the pay gap brings about performance improvement,but have not explored the antecedent conditions.The findings of this paper enrich the academic research on mixed ownership reform and internal pay gap,and also provide empirical evidence and suggestions for firms that want to improve their performance through mixed improvement.