High-tech Company Research Of Relationship Between Management Equity Incentive And Innovation Performance

The development of high-tech enterprises is the concrete embodiment of their independent innovation capacity and the main force of innovation driven. Talent is the most important innovative elements devoting to high-tech development, particularly senior executives, they take charge of enterprise strategy, and their support of enterprise innovation is important to the development of technological strength and innovation. Enterprises need to implement various incentive according to different development stage. Equity incentive has been accepted by many enterprises, however the effect differences in different real conditions, and the compensation incentive effect can not be ignored.Some of them are both responsible for business management and the core technical staff of the company. Incentive for them is critical, because they usually own strong comprehensive ability.For the incentived senior executives from the Tech enterprises, share is an important measure element of equity incentive. most of the research regard total share as equity incentive validity, to some extent,it make sense.However, does not reflect the annual target of enterprise owner in the incentive plan or correspond with senior’s efforts, and also does not relate to annual innovation performance. Shares and the exercise price of the equity incentive plan has a direct impact on earnings and difficulty to exercise. But empirical analysis research on these question is rare. In this paper, according to comprehensive analysis of high-tech enterprises equity incentive research,we set explanatory variables to explain the relationship between equity incentive and innovation performance of high-tech enterprises base on contract fator of share, exercise period, exercise price, share price and non-contractual fator of stock price.Equity incentive has been regarded as kind of system innovation, most research ignore the importance of interaction between institutional and technological innovations. In this paper, the annual exercise share and rate of return are the explanatory variables that for explaining the relationship between high-tech enterprises equity incentive and innovation performance. Data regression By E-VIEWS software, the paper concluded that: the exercise rate of return to firm performance promotion is relatively stable, the impact that from annual exercise rate on business performance is uncertainty; High-tech enterprises equity incentives impact on innovation performance is not obvious; However, financial performance of the equity incentive exists a significant positive correlation. Results of this study provide some experience reference implementation of equity incentive for the high-tech enterprises, they are not isolated.The enterprises should pay more attention to incentive contract element, payment incentive and equity incentives should be taken into account at the same time.