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首页> 外文期刊>MATEC Web of Conferences >Role of CEO Age in Determining Executive-employee Pay Gap in Chinese Listed Manufacturing Companies: A Perspective of Risk Aversion
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Role of CEO Age in Determining Executive-employee Pay Gap in Chinese Listed Manufacturing Companies: A Perspective of Risk Aversion

机译:CEO年龄在确定中国上市制造业公司高管人员薪酬差距中的作用:风险规避的视角

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摘要

The paper investigates the effect of CEO age on executive-employee pay gap (EEPG), a newly focused dimension of executive compensation arrangements by the literature, by choosing the panel data consisting of 3495 firm-years in Chinese listed manufacturing companies during 2010-2014 as the research sample. Empirical analysis based on multiple regression analysis adopting the method of OLS by applying SPSS19.0 makes a new finding, i.e., there is a positive relationship between CEO age and EEPG, which holds robust with the change of the measures. Further investigation on the determination mechanism of CEO age on EEPG show that older CEOs intend to set relatively lower EEPG out of their risk aversion needs.
机译:本文通过选择包括2010年至2014年间中国上市制造业公司中3495个公司年的面板数据,研究了CEO年龄对高管雇员薪酬差距(EEPG)的影响,EEPG是文献中高管薪酬安排的新焦点。作为研究样本。基于多元回归分析的经验分析采用SPS19.0并采用OLS方法进行实证分析,得出了一个新发现,即CEO年龄与EEPG之间存在正相关关系,并随着度量的变化而保持稳健。对EEPG的CEO年龄确定机制的进一步调查显示,老龄CEO打算根据他们的风险规避需求设置相对较低的EEPG。

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