【作者】 郑蕾；

【导师】 杜纲；

【作者基本信息】 天津大学 ， 管理科学与工程， 2011， 博士

【摘要】 本文主要研究了高管团队对公司绩效的影响。由于高层管理团队与组织战略以及组织经营结果的潜在联系，其在管理学术领域具有重要的研究意义。组织的战略选择和绩效水平在某种程度上取决于企业高层管理人员的背景特征与激励机制。中国的转型经济呈现的是一种不同于西方完善市场经济的特殊制度环境，在这种环境下经营的上市公司业绩受到其高管团队的影响如何，需要进一步的研究予以揭示。本文通过对企业高管团队背景特征与激励机制的研究，为上市公司高管引入机制提供一些有意义的建议，为上市公司高管团队的激励机制的进一步完善提出积极的策略。本文选取了上市公司中的三类行业作为研究对象，分别为资本密集型、劳动密集型和技术密集型，从而研究不同行业的特点，为每个行业提出有针对性的建议。在高管团队背景特征对公司绩效的影响的研究中，本文研究了团队的年龄、学历等特征与公司绩效之间的关系，进而揭示高管各个背景特征对公司绩效的影响效果。研究发现：在同一个行业中，不同的高管背景特征对公司绩效的影响效果不一，同一个背景特征对不同公司绩效的影响也是不一样的，各个行业有其自身的特点。在高管团队激励机制的研究中，本文分别对三个行业的高管薪酬和高管持股比例与公司绩效之间的关系建立线性模型，通过模型回归之后变量的显著性程度来分析其对公司绩效的影响程度。研究表明：部分行业的高管激励体制是不完善的；在同一行业中，股权激励和货币激励的影响也是不一致的；在不同的行业中，同一种高管激励机制的影响效果也是不一样的。通过上述的研究，我们提出了一些有针对性的意见：第一，企业在引入高管时，要结合自身的行业特点，尽量考虑对公司绩效有积极作用的背景特征，忽略没有作用的特征，避免有消极作用的特征，建立合理的高管引入机制。第二，部分行业的激励机制不完善，需要采取进一步的完善措施；公司在激励高管时，需要结合自身的特点，当两种激励方式可以达到同样的效果时，公司需要考虑的是成本最小化。更多还原

【Abstract】 This paper studies the top management team’s impact on the companyperformance. Firstly, we use the production function theory divided listed companisinto three sectors: capital-intensive, labor-intensive and technology-intensive, in orderto study the characteristics of different industries, make specific recommendations.For the top management team’s impact on company’s performance, the paper studiestwo aspects:firstly, the top management team incentives, including equity incentivesand monetary incentive; secondly, the background characteristics of top managementteam.This paper establish linear model between the top management team incentivesand corporate performance on the three industries respectively and analyze the degreeof its impact on corporate performance by the significance of the variable in themodel. The results show that: Some industry executives incentive system is imperfect;In the same industry, the impact of equity incentives and monetary incentives isinconsistent; in different industries, the same kind of executive incentives hasdifferent effect.In this paper, we use panel model to study the relationship between the team’sbackground characteristics and corporate performance to reveal the backgroundcharacteristics’ impact on company performance. The research shows that: in thesame industry, different background characteristics of the executives had differenteffects: positive effects, negative effects and no effects; the impact of the samebackground characteristics on corporate performance are not the same, each industryhas its own characteristics.Through this study, we made some useful recommendation:firstly, the incentivemechanism is imperfect in some industries, they need to take further measures toimprove; When companies reward executives, they need to combine thecharacteristics of its own, take a method that has a positive impact on corporateperformance. When the two incentives can achieve the same effect, the companies’better choice is the lower costs incentives. Secondly, when company introduce the topmanagement team member, they should consider the background characteristics thathave positive effects, ignoring the characteristics that have no effects, avoidcharacteristics that have the negative effects to establish a effective introductionmechanism.更多还原