【作者】 高海；

【导师】 欧阳仁根；

【作者基本信息】 安徽财经大学 ， 经济法学， 2007， 硕士

【摘要】 为了解决所有权与经营权分离产生的委托代理问题,董事报酬结构中与业绩相关的激励性报酬日益突出。特别是股票期权的普遍适用,不仅大大膨胀了董事报酬水平,而且也对公司治理提出了更高的要求。目前,董事报酬已经成为发达国家社会各界广泛关注的热点和讨论的焦点,也是公司治理领域急需解决且难以解决的核心问题之一。在中国,特别是国有和国有控股企业,普遍存在激励不足或激励不合理问题。这不仅需要尽快改革现有报酬结构,而且也需要尽快构建和完善与董事报酬管理相关的法律制度。全文四章,均以强化董事报酬与公司业绩之间的正相关性为主线,分别回答了是什么、为什么、国外怎么样、国内怎么样。第一章首先讨论了董事报酬的法学界定,回答了董事报酬是什么,不同类型董事的报酬结构是什么;然后介绍了国外董事报酬法律制度概况和国内董事报酬法律制度沿革。第二章分别阐述并分析了董事报酬的理论基础与相关实证研究。通过委托代理理论和人力资本理论,回答了为什么要给予董事激励性报酬,为什么要构建多元化的董事报酬结构;通过对董事报酬与业绩相关性的实证研究结果的阐述及其影响因素的分析,揭示了实施股票期权等激励性报酬的必备条件和局限性,回答了为什么要对董事报酬进行法律规制,并指出法律规制的主要方面;通过董事报酬数额控制效果的实证考察及其合理性分析,揭示了董事报酬改革措施的两面性,回答了法律规制董事报酬的首要目标,为什么是委托代理理论和人力资本理论所支持的董事报酬与业绩之间正相关关系的增强,而不是董事报酬数额的降低。第三章重点介绍并比较了国外董事报酬决定和披露法律制度,回答了国外是怎么管理董事报酬的,安然事件发生后,又是怎样改革的。第四章通过论述我国多元化董事报酬结构的构建、董事报酬决定法律制度的改革、董事报酬披露法律制度的加强,回答了我国应当怎样完善董事报酬法律制度。小结指出:本文仅仅讨论了董事报酬的结构、决定和披露,而对与董事报酬相关的更广的问题,则少有涉及;同时指出董事报酬法律制度的改革与完善,仍然任重道远。更多还原

【Abstract】 In order to solve the problem of agency of commission accused by the separation of the ownership and power of management, the encouragement remuneration related to achievement in director’s remuneration structure is outstanding day by day. Especially stock option is general and applicable, which is not merely swell greatly director’s remuneration level , but also propose higher requirement for the company management.At present, director’s remuneration has already become the extensive concerned focus and focus discussed in the various circles of society of developed country, it is also one of the key problems that difficult to solve and are badly in need of solution in the field of the company management. In China, especially state-owned and state holding enterprises generally exist the insufficience of encouragement or the unreasonable problem of encouragement. This not only needs to reform the existing remuneration structure as soon as possible but also need to construct and improve the legal system related to director’s remuneration management as soon as possible.Chapter four of full text, in order to strengthen the straight relevance between director’s remuneration and company’s achievement, separately answer what, why, how abroad it is, how domestic it is.Chapter one has been discussed at first how law science is defined director’s remuneration, after answered what is it director’s remuneration, what is the remuneration structure of different kinds of directors; Then introduced the legal system overview of the foreign director’s remuneration and legal system evolution of domestic director’s remuneration.Chapter two has been explained and analyzed the theoretical foundation of director’s remuneration and relevant positive research separately. Through trusting agency theories and manpower capital theory, having answered why offer the director encouraging remuneration, why construct pluralistic director’s remuneration structure; Through the exposition and analysis of更多还原