报告题目： Vertical pay disparity, traditional Chinese culture, and employee productivity

报 告 人： 杨星

时    间： 2023年10月18日（周三）14:00-16:00

地    点： 西安交通大学创新港涵英楼经济金融研究院8121报告厅

报告人简介：

杨星，墨尔本大学会计学博士，新西兰奥克兰大学财务会计学讲师。主要从事企业ESG、审计和高管薪酬等方向的研究。在《European Accounting Review》、《British Accounting Review》和《Economics Letters》等国际高水平期刊发表多篇学术论文。在澳大利亚和新西兰会计和金融协会（AFAANZ）、澳大利亚国家审计和保证研究中心（ANCAAR）及墨尔本大学商业和经济学院等多地进行过学术报告。担任《Abacus》、《Advances in Management Accounting》、《Corporate Governance: An International Review》等多个期刊的审稿人。

摘要：

In 2015, China implemented executive compensation reform for state-owned enterprises (SOEs) that exogenously reduced vertical pay disparity (i.e., the pay difference between executives and average workers within a firm). We leverage this regulatory change to examine how traditional Chinese culture interplays with pay disparity to affect employee productivity. Our results show that in a cultural context characterized by high levels of power distance and masculinity, a sudden reduction in the executive–average worker pay ratio is accompanied by a notable decline in employee productivity. Furthermore, the decline in productivity is more pronounced when employees are exposed to greater cultural traditionality. Overall, our findings suggest that imposing pay restrictions without taking cultural context into account can have adverse effects on firm value. As such, this study has significant implications for the design and implementation of executive compensation policies, particularly in cultural contexts characterized by high degrees of power distance and masculinity.

经济与金融学院

2023年10月10日