【作者】 陈虹；

【导师】 周春梅； 徐道明；

【作者基本信息】 华侨大学 ， 旅游管理硕士（MTA）（专业学位）， 2021， 硕士

【摘要】 旅游业是劳动密集型行业,如何吸引和留住优秀的人才以提高服务质量和游客的满意度,是涉旅上市公司必须要重视的问题。通常来讲,薪酬激励是吸引和留住优秀人才的最直接的手段,过高的薪酬差距或不合理的激励机制将影响涉旅上市公司的可持续发展。在影响薪酬水平的众多因素中,个人所得税扮演着重要角色。2011年的个税改革在减轻了中低收入者个税负担的同时,增加了高收入人群的税收,从而使企业高管-员工之间的薪酬差距得以进一步缩小。基于以上考量,立足前人研究,聚焦我国涉旅上市公司,重点关注2011年个税改革前后高管-员工薪酬差距对企业绩效影响的差异。本研究选取了沪深两市A股2006-2018年间39家涉旅上市公司作为实证研究样本,通过对2011年个税改革前后涉旅上市公司高管-员工薪酬差距对企业绩效的多元回归分析发现:(1)2011年修订的个税方案对涉旅上市公司高管-员工薪酬差距具有一定的削减效应,个税改革后高管-员工薪酬差距出现了明显缩小。(2)2006-2018年数据回归结果显示,涉旅上市公司高管-员工薪酬差距对企业绩效呈现倒U的影响,即适度的薪酬差距能够正向促进企业绩效,然而过大的薪酬差距会阻碍企业绩效提升;(3)个税改革后高管-员工薪酬差距的缩小对企业绩效起正向作用。因此,涉旅上市公司在员工薪酬体系设置上,可以利用个税的收入调节作用,做到薪酬体系既兼顾公平又保证效率。只有高管与员工薪酬差距处于合理位置,才能确保涉旅上市公司可持续的健康发展。更多还原

【Abstract】 Tourism-related listed companies are labor-intensive industries.How to attract and retain excellent talents to improve service quality and tourists’ satisfaction is a problem that tourism-related listed companies must pay attention to.Generally speaking,salary incentive is the most direct means to attract and retain excellent talents.Too high salary gap or unreasonable incentive mechanism will affect the sustainable development of tourism-related listed companies.Personal income tax plays an important role in many factors that affect the salary level.The individual income tax reform in 2011 not only reduces the individual income tax burden of the low and middle-income earners,but also increases the tax revenue of the high-income earners,thus further narrowing the salary gap between the executives and employees.Based on the above considerations and previous studies,this study focuses on China’s tourism-related listed companies,focusing on the differences in the impact of the executiy-employee pay gap on corporate performance before and after the individual income tax reform in 2011.This study selects 39 tourism-related listed companies in Shanghai and Shenzhen stock exchanges from 2006 to 2018 as empirical research samples,through the multiple regression og tourism-related listed companies’ executiy-emplyee pay pay on corporate performance before and after the2011 individual income tax reform,and study finds that:(1)the revised individual income tax scheme in 2011 has a certain reduction effect on the executiy-employee pay gap of tourism-related listed companies.After the reform of the individual tax,the executiy-emplyee pay gap has been signficantly reduced.(2)The data regression results from 2006 to 2018 show that the executiy-employee pay gap of tourism related listed companies has an inverted U effect on corporate performance,that is,moderate pay gap can positively promote corporate performance,but the executiy-emplyee pay gap will hinder the improvement of corporate performance;(3)the narrowing of the executiy-employee pay gap after the individual tax reform has a positive effect on corporate performance.Therefore,in the setting of employee compensation system,we can use the income adjustment of individual tax,pay the system both to ensure fairness and efficiency.Only when the executiv-employees pay gap is in a reasonable position,can the sustainable and healthy development of tourism-related listed companies be ensured.更多还原