作　　者： ; ; ;

机构地区： 中山大学管理学院

出　　处： 《管理科学》 2007年第2期46-53,共8页

摘　　要： 独立董事报酬是作为激励独立董事努力工作、发挥其在公司治理结构中重要作用的主要手段,其合理与否直接影响到独立董事积极性的发挥。独立董事制度的发展程度不同,影响独立董事报酬的因素也有所不同,而研究决定独立董事报酬的因素很少从独立董事报酬的形成进行分析。根据独立董事制度发展的不同阶段提出声誉假设、按劳分配假设、支付能力假设、风险补偿假设,实证结果表明,独立董事的声誉、工作强度、公司支付能力对其报酬有明显的影响,公司的经营风险在一定程度上也对独立董事的报酬有显著影响,这为制定独立董事的报酬以及对独立董事的激励提供了一定的参考。 Compensation is used as an important tool to inspire the independent directors. The independent directors would make more effort for the improvement of corporate governance. Whether the compensation is reasonable or not has an important impact on the independent directors＇ management activities. As the development of independent director mechanism, the factors which influence their compensations are diversified. Many papers have studied the determinant factors of the independent director compensation, but very few carried out analysis on the formation content of the compensation itself. The research infers the important factors which influence the independent director compensation from the development course of the independent director mechanism. The compensation can be determined by the reputation, intensity of work, the affordability of the corporation or the risk of taking the position. The empirical results make it clear that the reputation, intensity of work and affordability of the corporation have obvious impact on the independent directors＇ compensation. In addition, the operating risk of the corporation can influence the compensation in some extent. The paper offers some ideas for setting down the independent directors＇ compensation and independent directors＇ prompting.

关 键 词： 独立董事 激励 报酬 声誉

领　　域： [经济管理] [经济管理]