Contract Incentive Strategy for Enhancing the Output Level of Collaborative Innovation in RegTech
The innovative efforts of innovation entities are key to enhancing the output level of collaborative innovation in regulatory technology.The research of the existing regulatory technology mainly focuses on the application scenarios,and lacks the depth of the collaborative innovation of regulatory technology.Besides,the regulatory technological innovation outputs include compliance technology and narrow regulatory technology,the overlapping roles of the relevant subjects lead to the regulatory technology collaborative innovation is very different from the general situation.Based on this,according to the supply and demand relationship of regulatory scientific and technological innovation,the innovation subject is divided into innovation research and development side and achievement application side,starting from the behavioral logic of innovation entities seeking to maximize their own benefits,a collaborative innovation benefit model is constructed,and an analysis of collaborative innovation incentive factors is carried out,further taking the ratio of effort level of both parties in collaborative innovation as the investigation variable,to optimize incentive contracts that improve the output level of collaborative innovation in regulatory technology.The research shows that increasing the status and profit distribution ratio of the innovators in collaborative innovation can spur less effortful innovation entities to narrow the gap with those that exert higher levels of effort,thereby raising the overall output level of collaborative innovation.Incorporating internal control signals such as the R&D personnel's salary investment of the innovating R&D side,along with market feedback signals such as the compliance costs of financial institutions and the changes in regulatory costs of regulatory agencies into the commissioned agency contracts of the application side of the results,can reduce information asymmetry,lower contract risk,and motivate the innovating R&D side to increase their innovative efforts according to the expectations of the results application side to enhance the output of collaborative innovation.
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