内部薪酬差距、管理层持股和企业动态能力
Internal Compensation Gap, Management Shareholding and Dynamic Capabilities of Enterprises

从公司的角度来讲，公司的薪酬管理和薪酬结构对公司能否留住优秀的员工以及公司能否保持稳定的发展都有很大的影响。如果薪酬差距过大，就很容易造成公司内部的恶性竞争，让员工的不公平感变得更加强烈，进而造成团队协作能力下降等问题，对公司的动态能力造成负面影响。基于此，本文选择我国上市公司2015~2021年数据为样本进行研究，构建回归模型，解析企业内部薪酬差距与企业动态能力之间的相互关系以及管理层持股的调节效应，以期为企业治理提供借鉴参考。研究发现，企业内部薪酬差距对于企业动态能力具有显著的负向影响，内部薪酬差距越大，对员工的激励作用越小，员工的不平衡感越强，企业的动态能力越弱。此外，管理层持股可以有效降低这种负向调节作用。
From the perspective of the company, the compensation management and structure of the compensation have a significant impact on whether the company can retain outstanding employees and maintain stable development. If the pay gap is too large, it will easily lead to cutthroat competition within the company, and will make employees’ sense of unfairness become stronger, then lead to problems such as the decline of team cooperation ability, which will have a negative impact on the dynamic ability of the company. Based on this, this article selects the data of listed companies in China from 2015 to 2021 as the sample for research, constructs a regression model, analyzes the relationship between internal compensation gap and dynamic capabilities of enterprises, as well as the moderating effect of management shareholding, in order to provide reference for corporate governance. Research has found that the internal compensation gap within a company has a significant negative impact on the company’s dynamic capabilities. The larger the internal compensation gap, the smaller the incentive effect on employees, the stronger their sense of imbalance, and the weaker the company’s dynamic capabilities. In addition, management shareholding can effectively reduce this negative regulatory effect.