Can Internal Pay Disparities of TMT Promote Enterprise Innovation?——An Empirical Study Based on Vertical Pay Disparities and Horizontal Pay Disparities

RUAN Ao; SUN Bo; PENG Bi-yu

Journal of South China normal University (Social Science Edition) > 2019 > (4): 130-139.

RUAN Ao, SUN Bo, PENG Bi-yu. Can Internal Pay Disparities of TMT Promote Enterprise Innovation?——An Empirical Study Based on Vertical Pay Disparities and Horizontal Pay Disparities[J]. Journal of South China normal University (Social Science Edition), 2019, (4): 130-139.

Citation:

PDF (1833 KB)

Can Internal Pay Disparities of TMT Promote Enterprise Innovation?——An Empirical Study Based on Vertical Pay Disparities and Horizontal Pay Disparities

More Information

Received Date: March 04, 2019
Available Online: March 21, 2021

Graphical Abstract

Abstract

Abstract

Based on the theory of tournaments and the theory of social comparison, this paper explores the differential impact of the internal pay disparities on the innovation performance of executives from the perspective of vertical pay disparities and horizontal pay disparities. According to the empirical study of the resume data of executives of listed companies in China from 2007 to 2016, it is found that the pay disparities between CEO executives and VP executives contribute to the improvement of corporate innovation performance. The horizontal pay disparities have a significant inverted U-shaped relationship with corporate innovation performance. This paper deepens the research on the relationship between pay disparities and enterprise innovation, and clarifies the applicability of tournament theory and social comparison theory in explaining the impact of different dimensions of salary gap within the top management team in the context of high power distance in China.

FullText(HTML)

References (30)

References

[1]	T. S. LIAO, J. RICE. Innovation Investments, Market Engagement and Financial Performance: A Study among Australian Manufacturing SMEs. Research Policy, 2010, 39(1):117—125. http://d.old.wanfangdata.com.cn/NSTLQK/NSTL_QKJJ0216785592/
[2]	D. C. HAMBRICK, P. A. MASON. Upper Echelons: The Organization as a Reflection of Its Top Managers. Academy of Management Review, 1984, 9(2):193—206. doi: 10.2307-258434/
[3]	孙博, 刘善仕, 姜军辉, 等.企业融资约束与创新绩效:人力资本社会网络的视角.中国管理科学, 2019, 27(4). http://d.old.wanfangdata.com.cn/Periodical/zgglkx201904017
[4]	鞠晓生, 卢荻, 虞义华.融资约束、营运资本管理与企业创新可持续性.经济研究, 2013, 48(1). http://d.old.wanfangdata.com.cn/Periodical/xswzk201704014
[5]	张远飞, 贺小刚, 连燕玲. "富则思安"吗?——基于中国民营上市公司的实证分析.管理世界, 2013(7). http://d.old.wanfangdata.com.cn/Periodical/glsj201307012
[6]	陈修德, 梁彤缨, 雷鹏.高管薪酬激励对企业研发效率的影响效应研究.科研管理, 2015, 36(9). http://d.old.wanfangdata.com.cn/Periodical/kygl201509004
[7]	V. CUI, W. W. DING, Y. YANADORI. Exploration Versus Exploitation in Technology Firms: The Role of Compensation Structure for R&D Workforce. Research Policy, 2019, 48(6): 1534—1549. http://cn.bing.com/academic/profile?id=7025400fba3789e7e4fc95e45c94d9d9&encoded=0&v=paper_preview&mkt=zh-cn
[8]	黎文靖, 胡玉明.国企内部薪酬差距激励了谁?.经济研究, 2012(12). http://www.cnki.com.cn/Article/CJFDTotal-JJYJ201212011.htm
[9]	孔东民, 徐茗丽, 孔高文.企业内部薪酬差距与创新.经济研究, 2017(10). http://www.wanfangdata.com.cn/details/detail.do?_type=perio&id=673587231
[10]	P. A. SIEGEL, D. C. HAMBRICK. Pay Disparities within Top Management Groups: Evidence of Harmful Effects on Performance of High-technology Firms. Organization Science, 2005, 16(3): 259—274. http://xueshu.baidu.com/usercenter/paper/show?paperid=cbc8d3a6ded34414f163ca74621f8b99&site=xueshu_se
[11]	梅春, 赵晓菊.薪酬差异、高管主动离职率与公司绩效.外国经济与管理, 2016, 38(4). http://d.old.wanfangdata.com.cn/Periodical/wgjjygl201604002
[12]	E. P. LAZEAR, S. ROSEN. Rank-order Tournaments as Optimum Labor Contracts. Journal of Political Economy, 1981, 89(5): 841—864. doi: 10.1086-261010/
[13]	S. ROSEN. Prizes and Incentives in Elimination Tournaments. American Economic Review, 1986, 76(4):701—715. http://cn.bing.com/academic/profile?id=67969c383f210865d05b24567891ba2a&encoded=0&v=paper_preview&mkt=zh-cn
[14]	林浚清, 黄祖辉, 孙永祥.高管团队内薪酬差距、公司绩效和治理结构.经济研究, 2003(4). http://d.old.wanfangdata.com.cn/Periodical/csjsllyj2015171221
[15]	L. FESTINGER. A Theory of Social Comparison Processes. Human relations, 1954, 7(2): 117—140. http://d.old.wanfangdata.com.cn/OAPaper/oai_doaj-articles_3f2eb5866b06ed5b1512cea758f554bb
[16]	P. D. SWEENEY, D. B. MCFARLIN, E. J. INDERRIEDEN. Using Relative Deprivation Theory to Explain Satisfaction with Income and Pay Level: A Multistudy Examination. Academy of Management Journal, 1990, 33(2): 423—436. doi: 10.2307-256332/
[17]	D. M. COWHERD, D. I. LEVINE. Product Quality and Pay Equity between Lower-level Employees and Top Management: An Investigation of Distributive Justice Theory. Administrative Science Quarterly, 1992, 37(2): 302—320. doi: 10.2307-2393226/
[18]	卫旭华, 刘咏梅, 岳柳青.高管团队权力不平等对企业创新强度的影响——有调节的中介效应.南开管理评论, 2015, 18(3). http://www.wanfangdata.com.cn/details/detail.do?_type=perio&id=nkglpl201503004
[19]	P. S. GOODMAN. An Examination of Referents Used in the Evaluation of Pay. Organizational Behavior and Human Performance, 1974, 12(2): 170—195. doi: 10.1016-0030-5073(74)90045-2/
[20]	李绍龙, 龙立荣, 贺伟.高管团队薪酬差异与企业绩效关系研究:行业特征的跨层调节作用.南开管理评论, 2012, 15(4). http://d.old.wanfangdata.com.cn/Periodical/nkglpl201204007
[21]	J. BALDWIN, G. GELLATLY. Innovation Strategies and Performance in SMEs. London: Edward Elgar Press, 2003.
[22]	方军雄.我国上市公司高管的薪酬存在粘性吗?.经济研究, 2009(3). http://www.cnki.com.cn/Article/CJFDTotal-JJYJ200903012.htm
[23]	徐悦, 刘运国, 蔡贵龙.高管薪酬粘性与企业创新.会计研究, 2018(7). http://www.wanfangdata.com.cn/details/detail.do?_type=perio&id=kjyj201807006
[24]	O. KINI, R. WILLIAMS. Tournament Incentives, Firm Risk, and Corporate Policies. Journal of Financial Economics, 2012, 103(2): 350—376. http://d.old.wanfangdata.com.cn/NSTLQK/NSTL_QKJJ0226237710/
[25]	张正堂, 范林榜.企业家报酬研究述评.经济管理, 2001(11). http://www.wanfangdata.com.cn/details/detail.do?_type=perio&id=jjgl200111004
[26]	张勇, 龙立荣.绩效薪酬与团队成员创新行为关系实证研究.管理学报, 2013, 10(8). http://d.old.wanfangdata.com.cn/Periodical/glxb201308006
[27]	刘善仕, 孙博, 葛淳棉, 等.组织人力资源大数据研究框架与文献述评.管理学报, 2018, 15(7). http://d.old.wanfangdata.com.cn/Periodical/glxb201807019
[28]	C. GE, K. HUANG, I. P. L. PNG. Engineer/scientist Careers: Patents, Online Profiles, and Misclassification Bias. Strategic Management Journal, 2017, 37 (1):232—253. http://cn.bing.com/academic/profile?id=acb2d3cf799ba47336546bd9befe562b&encoded=0&v=paper_preview&mkt=zh-cn
[29]	G. AHUJA. Structural Holes and Innovation:A Longitudinal Study. Administrative Science Quarterly, 2000, 45(3):425—455. http://d.old.wanfangdata.com.cn/NSTLQK/NSTL_QKJJ0231537159/
[30]	刘善仕, 孙博, 葛淳棉, 等.人力资本社会网络与企业创新——基于在线简历数据的实证研究.管理世界, 2017(7). http://www.cnki.com.cn/Article/CJFDTotal-GLSJ201707009.htm

Cited By

Cited by

Periodical cited type(0)

Other cited types(2)

Get Citation

PDF

XML

Article views (2305) PDF downloads (107) Cited by(2)

Turn off MathJax

Article Contents

Abstract

References

Can Internal Pay Disparities of TMT Promote Enterprise Innovation?——An Empirical Study Based on Vertical Pay Disparities and Horizontal Pay Disparities

Abstract

References

Cited by

Periodical cited type(0)

Other cited types(2)

Catalog

Export File

Citation

Format

Content