Research On The Relationship Between Internal Pay Gap And Enterprise Innovation

In order to obtain the development of enterprises,more and more rely on the strength of innovation,innovation has gradually become the key factor for enterprises to obtain competitive advantage.Whether the decision-makers of enterprises make innovation decisions or not is related to the growth and development of enterprises.Due to the separation of ownership and control,the compensation contract reached by the owners and managers in the continuous game also shows the trend of increasing the compensation of individual managers and the pay gap of managers at different levels.The increasing pay gap has gradually aroused the attention and attention of the practical and academic circles,and the advantages and disadvantages of the pay gap have not been unified.But most scholars believe that the pay gap within the executive will affect the efforts of the executive.Therefore,it is of theoretical and practical significance to explore whether the pay gap within the executive has an impact on the innovation of the enterprise and how to have an impact on the enterprise.It will help us to understand more deeply the important role of compensation contract in corporate governance.Based on this,the dissertation takes A-share manufacturing listed companies from 2009 to 2017 as a sample,and makes theoretical deduction and empirical analysis on the relationship between executive pay gap and enterprise innovation.First of all,it reviews the relevant documents of enterprise innovation,analyzes the factors that influence enterprise innovation,at the same time,it reviews the relevant documents of how the senior executives influence enterprise innovation;Secondly,the dissertation puts forward the hypothesis of the relationship between executive pay gap and enterprise innovation in listed manufacturing companies and its mechanism of action.Then,through collecting data samples in CSMAR,WIND database and the way of manual collection,the relationship between executive pay gap and enterprise innovation is analyzed.The results show that the growth of executive pay gap can promote enterprise innovation,and the nature of state-owned property rights will weaken the promoting effect of executive pay gap on enterprise innovation.Regions with good market environment will enhance the promotion effect of the pay gap among senior executives on the innovation of enterprises;Further analysis found that there is a significant intermediary effect between executive pay gap,risk taking and enterprise innovation,and the executive internal compensation gap affects enterprise innovation by influencing the level of risk taking.