Abstract:

This study selects data from China's A-share listed companies on the Shanghai and Shenzhen stock exchanges between 2010 and 2023 to examine the impact of internal executive pay disparities on high-quality enterprise development. The findings indicate that widening internal executive compensation gaps significantly promote high-quality development, with enhanced corporate competitiveness serving as a key mechanism. However, the gap between executives and employees, as well as customer concentration, exerts a certain negative moderating effect. Moreover, the promoting effect of internal executive pay gaps on high-quality corporate development is more pronounced in firms with lower marketization levels, without CEO-chairman duality, and facing intense product market competition. Going forward, enterprises could adopt differentiated compensation systems, reasonably widen internal executive pay gaps, balance salary allocations between management and employees, and optimize their customer structure to reduce reliance risks, thereby better advancing high-quality development.

Key words: executive pay gap, high-quality corporate development, executive-employee pay gap

摘要：

文章选取2010—2023年我国沪深A股上市公司相关数据，探讨高管内部薪酬差距对企业高质量发展的影响。研究表明，高管内部薪酬差距适度扩大能够显著促进企业高质量发展，提升企业竞争力是其中的重要作用路径，而高管-员工薪酬差距与客户集中度在其中表现出一定的负向调节作用。此外，高管内部薪酬差距对企业高质量发展的促进作用在市场化程度低、非两职合一型、产品市场竞争度高的企业中更显著。今后可推行差异化薪酬制度，合理拉开高管内部薪酬差距，统筹管理层与员工的薪酬分配，并优化客户结构以降低客户依赖风险，更好地推动企业高质量发展。

关键词: 高管内部薪酬差距, 企业高质量发展, 高管-员工薪酬差距