创业板上市公司高管薪酬体系分析——基于平衡计分卡理论的视角-analysis of executive compensation system of gem listed companies - based on the perspective of balanced scorecard theory.docx

安徽财安徽财经大学硕士学位论文RESEARCH ON EXECUTIVE COMPENSATION SYSTEM IN THE COMPANIES LISTED ON GEM——THE THEORY OF THE BALANCED SCORECARD PERSPECTIVEABSTRACTThe companies listed on GEM with high growth, strong capability of independent innovation,but because most of them are new industries or high-tech companies, and the current economic benefits is not obvious, it is generally financing difficulties. In order to solve their difficulties in financing and guide more enterprises to scientific technological innovation, the government launched a GEM in Shenzhen Stock Exchange in October 2009. However, healthy development of the companies listed on GEM is closely related to the effort of the company executives. As the key role of the companies listed on GEM, company executives have a crucial impact on the sustainable development of the company. Therefore, the proper incentive for them, making reasonable executive compensation is the key to the development of company. However, there are many phenomena in the companies listed on GEM such as the decline in performance with executive compensation not falling but rising, over-excitation and a large number of executives leaving in order to sell stocks, to a certain extent these phenomena indicate that executive compensation system in the companies listed on GEM has a lot of irrationality. Therefore, the analysis of the factors of the executive compensation, the establishment of evaluation index system of executive compensation, and reasonable construction executive compensation system in the companies listed on GEM have become the most important issue that must be addressed in the companies listed on GEM.In this paper, after a review of relevant literature, on the definition of related concepts and theoretical analysis basis, we make an empirical study on the correlation between executive compensation and corporate performance of the companies listed on GEM. And using the Balanced Scorecard Principle, from financial index, customer valu