Study on the Influence of Executive Incentive on Enterprise Innovation Quality:Based on the Regulatory Role of Independent Directors
Innovation is an important driving force for economic growth.To gain more profits,compa-nies must rely on innovation to enhance their core competitiveness.Executives are the key decision-makers of an enterprise and have an important influence on the innovation activities of the enterprise.This paper selects 1,699 listed manufacturing companies in my country from 2018 to 2022 as a sample to conduct an empirical analysis on the impact of executive incentives on corporate innovation quality from two aspects:salary incentives and equity incentives.The study found that:both salary incentives and equity incentives significantly promote the improvement of corporate innovation quality;corporate independent directors play a positive regulating role in the impact of salary incentives and equity incen-tives on corporate innovation quality.Therefore,companies must rationally allocate executive compen-sation incentives and equity incentives,stimulate executives'willingness and potential to innovate,and give full play to the functions of independent directors to implement effective supervision of company management,thereby promoting corporate innovation and high-quality development.
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