【摘要】 论文选取2010—2019年有境外机构投资者持股记录的上市公司作为研究样本，以上市公司绩效的衡量指标托宾Q为被解释变量、QFII持股比例为解释变量、高管薪酬为中介变量建立多元回归模型，实证检验QFII持股比例对企业绩效的影响以及高管薪酬在其中是否起到中介效应。此外，论文还探究了在不同所有权性质下，QFII持股比例对企业绩效的影响程度如何。论文得出如下结论：(1) QFII持股比例与企业绩效之间呈正相关；(2)与国有企业相比，非国有企业QFII持股比例与企业绩效的正相关关系更加显著；(3)高管薪酬在其中起到部分中介作用。更多还原

【Abstract】 This article selects listed companies with foreign institutional investor holding records from 2010 to 2019 as the research sample, using Tobin Q, a measure of listed company performance, as the explained variable, QFII shareholding ratio as the explanatory variable, and executive compensation as the intermediary The variables establish a multiple regression model to empirically test the impact of QFII shareholding ratio on corporate performance and whether executive compensation plays a mediating effect in it. In addition, this article also explores how the QFII shareholding ratio affects corporate performance under different ownership properties. This paper draws the following conclusions:(1) QFII shareholding ratio is positively correlated with corporate performance;(2) compared with state-owned enterprises, non-state-owned enterprises QFII shareholding ratio has a more significant positive correlation with corporate performance;(3) executive compensation plays a part of the intermediary effect.更多还原