Research On The Influence Of Corporation Governance And Incentive On Technology Innovation In Hitech Manufacturing Listed Company

Corporate governance is the core of the modern enterprise system.It can rationally allocate limited corporate resources,and promote enterprise technological innovation.For company,the corporate governance structure has the most direct impact on the company's technological innovation and directly determines the direction and level of development of the company.Therefore,based on the three basic theories of corporate governance theory,technological innovation theory and endogenous growth theory,this study establishes an empirical test model after collating and studying existing literature,and empirically examines the impact of corporate governance on technological innovation.The research object is the manufacturing enterprises listed on the GEM in accordance with the industry classification of the Securities and Futures Commission.Among them,a total of 235 companies have been excluded from ST companies and financial companies.The time is from 2013 to 2016,and the data used in this study is from csmar,wind,and corporate disclosures.After sorting out the data,we used SPSS to proceed from the three main bodies of corporate governance(shareholders,board of directors,and senior management)to further explore the impact of corporate governance on technological innovation.After researching the above issues,this paper finally reached the following conclusion: The higher the degree of ownership concentration,the more unfavorable the enterprises are for technological innovation;the greater the scale of the board of directors,the more unfavorable the technological innovation,and the more independent directors,the more technological innovation will be declined;salary incentives and equity incentives have a significant positive effect on the technological innovation of enterprises.In addition,for companies of different scales and growth,corporate governance factors have different effects on technological innovation.The interaction of different corporate governance factors will also have different effects.Enterprises should rationally analyze their own conditions and establish own corporate governance structure of the demand.