The panel data of Shanghai and Shenzhen A-share listed companies from 2010 to 2022 was selected to test the impact of executive compensation incentives on the total factor productivity of enterprises,whether real earnings management plays an intermediary role is explored,and heterogeneity analysis according to the nature of property rights was conducted.The results show that there is a significant positive relationship between executive compensation incentive and total factor productivity,and real earnings management plays a partial intermediary role.Heterogeneity test shows that executive compensation incentives significantly inhibit real earnings management behavior in non-state-owned enterprises,but not in state-owned enterprises.Based on this,suggestions are put forward for promoting the high-quality development of enterprises from the aspects of"reward"and"punishment".
关键词
高管薪酬激励/真实盈余管理/企业高质量发展/全要素生产率
Key words
executive compensation incentive/real earnings management/high-quality development of enterprises/total factor productivity
维普
万方数据