企業社會責任績效與CEO薪酬的關係

The Relationship between Corporate Social Responsibility Performance and CEO Compensation

杜榮瑞(Rong-Ruey Duh) ； 陳煬楊(Yang-Yang Chen) ； 黃馨儀(Hsin-Yi Huang)

《當代會計》 20卷1期 (2019/05) Pp. 1-28

https://doi.org/10.6675/JCA.201905_20(1).01

摘要

本文以中國大陸2009－2015年上市公司為樣本，研究企業社會責任績效與CEO薪酬的關係，並考慮產權性質和獨立董事的監督角色，進一步探討上述關係在國有企業與非國有企業是否不同，及獨立董事比例對上述關係的調節作用。研究結果發現，企業社會責任績效與CEO薪酬呈顯著正相關；這種正相關在非國有企業比國有企業更強；而獨立董事比例越高，企業社會責任績效與CEO薪酬的關係並不會增強。

關鍵字

企業社會責任績效 ； CEO薪酬 ； 國有企業 ； 獨立董事

並列摘要

In this study, companies listed in China between 2009 and 2015 were used as a sample to examine the relationship between corporate social responsibility (CSR) performance and CEO compensation. Considering the nature of property right and the monitoring role of independent directors, this study further tests whether this relationship differs between state-owned enterprises and non-state-owned enterprises, and whether this relationship is moderated by the proportion of independent directors. The results showed a significantly positive correlation between CSR performance and CEO compensation, and such a relationship is stronger in non-state-owned enterprises than in state-owned enterprises. However, the proportion of independent directors was not found to significantly moderate this relationship.

並列關鍵字

corporate social responsibility performance ； CEO compensation ； state-owned enterprises ； independent directors

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