Empirical Research of Large Shareholders' Overweight (Underweight) Behavior on Corporate Performance: Based on the Empirical Data of Chinese Listed Companies
This paper studies the determinants of executive compensation in listed firms in China between 2002 and 2005. There is significantly positive elasticity of compensation to scale. Moreover, corporate performance is positively related to the elasticity of compensation to scale. We find that both agency theory and managerialism hold true in Chinese listed companies. Compensation contract is the result of the game by stockholders and managers
The Empirical Research of the Effect of Financing Constraints on Investment Efficiency Based on Chinese Listed Companies