The paper draws factors that influence the sensitiveness of compensation - performance in term of model analysis and proposes a basic explanation to executive remuneration.

本文通过模型分析得出企业家报酬业绩敏感性系数的影响因素，进而对企业家报酬实证研究的结果给出一个基本的解释。

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Which is just another illustration of how top executive pay retains a huge lottery element, even when remuneration consultants think they're being scientific and linking pay to performance.

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