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近年来,作为一种新媒体力量,互联网舆论对公司和监管层的决策起着重要的影响作用。本文采用网络股票贴吧的数据,研究了网络负面舆论对于高管薪酬的影响。研究发现,网络负面舆论可以促进国有企业高管薪酬效率性和公平性的改进,体现在网络负面舆论可以提高国有上市公司高管的薪酬对会计业绩和市场业绩的敏感度,同时,网络负面舆论可以抑制国有上市公司高管与员工薪酬差距的增加。当加入政策因素之后,本文发现,网络负面舆论能够起到替代监督作用,在没有政策作用的年份效果更加明显。
In recent years, as a new media force, Internet media plays an important role in the decision-making of companies and regulators. In this paper, we use the data of Internet stock bar to study the influence of negative public opinion on the executive pay. The study found that the negative public opinion can promote the improvement of the efficiency and fairness of executive compensation in state-owned enterprises. This is reflected in the fact that negative public opinion on the Internet can increase the sensitivity of state-owned listed executives’ remuneration to the accounting performance and market performance. At the same time, Can inhibit the state-owned listed companies executives and employees increase the wage gap. After joining the policy factors, this article finds that the negative public opinion in the network can play an alternative supervisory role and has a more obvious effect in the years without the policy role.