Research On The Effect Of Executives Incentives On Technological Innovation

Technological innovation is the key to the survival and development of high-tech enterprises.Since senior managers are the main body of enterprises to promote technological innovation,it is very important for them to explore scientific and effective executive incentive mechanism and guide and encourage executives to carry out technological innovation.Based on the principal-agent theory model and the theory of technological innovation,this paper uses the multi-linear regression method of 218 listed high-tech enterprises in China from 2009 to 2015,and uses the multiple linear regression method to pay the incentive and equity incentive of high-tech enterprises listed in China.This paper discusses the influence of the incentive of the state-owned enterprises and the executives of the private enterprises and the influence of the equity incentive on the technological innovation from the perspective of corporate ownership.The basic finding of empirical research is that executive compensation incentive and equity incentive have a significant positive relationship on technological innovation of listed high-tech enterprises.There is a complementary relationship between salary incentive and equity incentive,and its interaction further promotes high-tech enterprise technology.This paper points out that the salary incentive of state-owned enterprises is more influential than the incentive of private enterprises to the technological innovation of private enterprises.The equity incentive of private enterprises is more influential than the state-owned enterprise equity incentive to the enterprise's technological innovation.Therefore,high-tech enterprises in the affirmation of a single incentive mechanism for technological innovation pay a significant role in promoting,but also should further improve the composite incentive contract mechanism design and application,targeted to improve our state-owned enterprises and private enterprises executive incentives to enterprises and to the effect of Technological Innovation Impact.