Study On The Impact Of Equity Incentive On Innovation Performance Of High-Tech Enterprises

Enterprise development cannot be separated from innovation.Both technological innovation and management innovation are great significance to enterprise development.The high and new technology enterprises demand higher technological innovation because of their own development,and the high and low of enterprise innovation ability directly determines the intrinsic value of high-tech enterprises.In order to achieve long-term stable development of high-tech enterprises,it is necessary to improve their independent innovation ability.The company's senior managers is the soul of enterprise development and executive development decisions also directly affect the development of enterprise technology innovation ability,thus to improve enterprise innovation performance requires executives has innovation consciousness,pay attention to the enterprise innovation ability to ascend,avoid the emergence of the short-sighted behaviour.In order to solve the principal-agent problems that exist in the enterprise management,promote enterprise innovation performance has increased,more and more high and new technology listed company equity incentive,through increasing core technical staff shareholding company executives and managers of enterprises and the core technical staff into enterprise owners,so as to solve the principal-agent problems,ensure that company executives and core technical staff's work enthusiasm,thus improve enterprise's technological innovation ability and innovation performance.This article selects 2006 to 2016,the relevant data of hi-tech listed companies in our country as the sample,select financial indicators to measure the innovation performance,through empirical model research equity incentive effects on high and new technology innovation performance of listed companies.The empirical results show that high and new technology listed companies the implementation of equity incentive to the enterprise innovation performance has a significant role in promoting,namely the implementation of equity incentive is helpful to the innovation performance of listed companies of new and high technology and science and technology level,at the same time for different incentive object,this paper examined for executive equity incentive and the core technical personnel incentive effect on the performance of enterprise innovation,the results show that high and new technology for equity incentive to executives of listed companies influence on innovation performance.Finally,based on the empirical results of this paper,it is concluded that equity incentive has indeed promoted the innovation performance of high-tech listed companies,and put forward relevant Suggestions for the development of high-tech enterprises.