Intelligent Manufacturing,Internal Control,Executive Compensation and the Sustainability of Corporate Innovation
Intelligent manufacturing stands as the primary thrust in building a manufacturing powerhouse and serves as a critical means for the high-quality development of the manufacturing industry.This article utilizes the pilot demonstra-tion project of intelligent manufacturing as a quasi-natural experiment,employing a double-difference model to explore the relationship between intelligent manufacturing,internal control,and the sustainability of corporate innovation,while also examining the moderating effect of executive compensation.The study reveals that intelligent manufacturing can enhance the innovation sustainability of manufacturing enterprises,displaying heterogeneity among enterprises with different prop-erty rights.Internal control is observed to play a partial mediating role between intelligent manufacturing and the sustain-ability of corporate innovation.Additionally,executive compensation is found to exert a negative moderating effect between internal control and the sustainability of corporate innovation.To enhance the sustainability of corporate innova-tion,the article suggests further expanding the scale of the intelligent manufacturing pilot demonstration,fostering en-hanced inter-enterprise communication and learning,improving specialized production service capabilities,and elevating levels of internal control.
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