Research On Influence Of Executive Incentive On Technological Innovation And Enterprise Growth

At present,China is in an important period of economic transformation and development mode transformation.Implementing innovative development strategies,cultivating high-tech enterprises,and promoting the formation and improvement of the GEM market have effectively promoted the development of China's capital market and sustainable economic growth.At the same time,the growth of enterprises has attracted more and more attention from scholars and investors.The company's growth level is an important basis for stakeholders to make relevant decisions.Among the many influencing factors of the company's development,making full use of human capital plays a vital role.The effective utilization of enterprise human capital is inseparable from the improvement of the incentive mechanism,especially the incentive mechanism of managers.Executives are very important human capital for enterprises and play an irreplaceable role in promoting enterprise development.However,under the system of the separation of powers between modern enterprises,the interests of the principals and agents of the enterprises are inconsistent.Executives,as managers of enterprises,in order to realize their own interests and avoid risks,may reduce the investment in technology research and development,which is not conducive to the long-term development of enterprises.Executive incentives,as an important means to solve the problem of entrusted agency,on the one hand,guide the technological innovation activities of enterprises,on the other hand,affect the business results of enterprises.Especially for small and medium-sized GEM high-tech enterprises,executives are the core personnel of the company's business management.They have the strategic decision-making power of enterprises and are the driving force of technological innovation.Innovation is the core competitiveness of GEM companies and affects the operation and development of companies.China's GEM market is represented by high-tech companies,and its high growth and high rate of return are different from the main board market.At present,it occupies an important position in China's economic development and shows great potential for development.Research on it has important practical significance.This article summarizes the existing relevant literature,combining human capital theory,incentive theory,principal-agent theory,innovation theory and enterprise growth theory,and studies whether the growth of high-tech enterprises on Chi Next with obvious characteristics of technological innovation is affected by executive incentives.At the same time,incentives are divided into explicit and implicit incentives.According to the "incentive-behavior-result" research paradigm,empirical research hypotheses are proposed and research models are established.Try to explore the interrelationships among the three aspects of GEM executive incentive,technological innovation and business growth.On this basis,explore whether technological innovation plays an intermediary role between executive incentives and corporate growth.Finally,combined with the results of the empirical analysis,relevant countermeasures and suggestions are proposed in order to improve the future growth of the GEM companies and promote their healthy development.