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外向型经济发展增加了我国企业经营环境的复杂性和不确定性,创新成为企业持续发展的有效途径,决策团队作为上市战略的制定者和引导者,对企业的创新决策具有决定性影响。本文以我国民营上市公司为样本,利用连续4年形成的2800组数据对决策团队激励与创新行为的关系进行实证分析,结果表明决策团队股权激励、薪酬激励和控制权激励对创新行为均有正向影响。同时对三种激励契约治理效应的差异化进行了分析,发现与股权激励和控制权激励相比,薪酬激励对创新行为的积极影响最强。
The development of export-oriented economy has increased the complexity and uncertainty of the business environment in our country. Innovation has become an effective way for the sustainable development of the enterprise. As the maker and guide of the listing strategy, the decision-making team has a decisive influence on the innovation decision-making of the enterprise. This paper takes the private listed companies of our country as a sample and makes empirical analysis on the relationship between the motivation and innovation behavior of decision-making team using 2800 sets of data formed in 4 consecutive years. The results show that the equity incentive, remuneration incentive and control incentive of the decision-making team have positive innovation behavior To influence. At the same time, the author analyzes the difference of three incentive contract governance effects and finds that the compensation incentive has the strongest positive impact on innovation behavior compared with the equity incentive and the control incentive.