Research on the Influence of Management Incentive on Enterprise Innovation—From the Perspective of Financing Constraints
The paper uses the data of Shanghai and Shenzhen A-share listed companies from 2015 to 2022 to study the influence of management incentives on enterprise innovation and the mediating role of financing constraints through empirical analysis.It is found that there is an inverted U-shaped relationship between management incentive and enterprise innovation.When implementing management incentive measures,the most appropriate shareholding ratio should be determined according to the specific situation of the company,so as to prevent the innovation ability of enterprises from being reduced due to inadequate or excessive equity incentive.The level of financing constraint plays an intermediary role in the relationship between management incentive and enterprise innovation.The research results can provide reference for Chinese enterprises to formulate management incentive policies and improve their innovation ability.
NETL
NSTL
万方数据
