高管薪酬契约是高管激励制度最重要的内容。激励契约内生于其特有的制度环境,其有效性依赖于上述前提,同时也受外部制度环境的影响。我国目前正处在从计划经济向市场经济转轨的过程中。受历史、地理、人口、政策等因素的影响,我国各地区的市场化发展并不平衡,政府对经济的影响程度在各地区之间也存在较大差异。市场化改革影响了经济的方方面面,高管激励也受到了其影响。本文分析阐述了市场化改革对高管薪酬契约的影响。 Executive compensation contract is the most important part of executive incentive system. Incentive contract born in its unique institutional environment, its effectiveness depends on the above premise, but also affected by the external system environment. My country is currently in the process of transition from a planned economy to a market economy. Affected by history, geography, population, policies and other factors, the marketization development in various regions of our country is not balanced, and the influence of the government on the economy also varies greatly among regions. Market-oriented reforms affect all aspects of the economy, and executive incentives have also been affected. This article analyzes the impact of market reforms on executive compensation contracts.