Innovation has become an increasingly important enterprise strategy.The realization of technological innovation depends on mastering professional technology,the motivation for core employees is the key to enhance technological innovation ability of enterprises.equity incentive is an important means to encourage technological innovation.This paper first explains the concepts of equity incentive and enterprise innovation performance,then used human capital theory and profit sharing profit to conclude the theoretical basis of the relationship.Secondly,combing the impact path of core employee equity incentive on technological innovation,it is pointed out that equity incentive can enhance human capital investment,increase employee performance incentives and enhance employee risk-taking level through their own characteristics,and further promote enterprise technological innovation.Secondly,it analyzes the influencing factors and measurement indexes of enterprise technological innovation,and selects the relevant variables of equity incentive to carry out empirical analysis.This paper selects 2013-2015 years of the implementation of equity incentive of listed companies as research samples,using factor analysis to obtain the enterprise technology innovation indicators as explanatory variables,selection of equity incentive,human capital investment,employee performance incentive and risk level and other indicators as explanatory variables,by adding a parallel multiple linear model and the mediating effect of cross terms the regression model for empirical analysis.The empirical results show that,when the listed companies in the implementation of equity incentive of core employees,technology innovation level has improved significantly,performance incentives and risk to assume a significant mediating effect in stimulating the process of human capital,and both the stock option incentives,or selection of restricted stock incentive mode has significant role in promoting on enterprise technology innovation.For stock options,performance incentive technology innovation brought by technological innovation brought about by stimulating the employees is higher than the level of risk-taking;of restricted stock,the employees on the performance of technological innovation incentive to bring higher than technological innovation brought about by improving the employee's ability to bear the risk.The incentive effect of stock option in high and new technology enterprises is better than that of restricted stock. |