The Correlation between Managerial Incentives and State-owned Capital Gains: An Empirical Analysis Based on Panel Data

To improve the efficiency of state-owned capital gains, rational management incentive mechanism is an effective way. By executive compensation, the ratio of circulation, asset-liability ratio, company's size and the distribution,this paper chooses 90 companies as the sample, using panel data of 2013-2015, empirical test shows the relationship of management incentive and state-owned capital gains, accordingly, we proposesome suggestions on how to improve the state-owned capital gains.