关键词: 水平薪酬差距, 垂直薪酬差距, 产品市场竞争, 企业社会责任

Abstract: As an important strategy of the company, social responsibility has received extensive attention from academics and practitioners in recent years. This article takes A-share listed companies that released social responsibility reports from 2009 to 2016 as research objects, and discusses the relationship between executives’ pay gaps and corporate social responsibility. The study finds that: within the company, there is a negative relationship between the horizontal pay gaps and corporate social responsibilities, while vertical pay gaps are positively related to social responsibilities. In the highly competitive industries, the promotion of horizontal pay gaps and vertical pay gaps will weaken the performance of corporate social responsibility; with the further research we find that the level of the corporate social responsibility deteriorates with the increase of the external pay gap of executives. The conclusion of this paper enriches the factors that influence corporate social responsibility, and has some references value for the formulation of executive compensation policy.

Key words: horizontal pay gap, vertical pay gap, product market competition, corporate social responsibility