Research On The Validity Of Compensation Motivation Of Innovative Enterprises

Our country began to carry out technological innovative pilot projects at the end of 2005, and launched a pilot program for innovative enterprises in April,2006. So far, four groups of enterprises have been selected as the national innovative enterprises and provincial enterprises. during the twelfth five-year plan Our country have regarded making China an innovative country as developing target, taken making China an innovative country to key construction projects, and pumped an enormous amount of money to support the rapid development of innovative enterprises. A rational compensation motivation is benefit to inspire management and knowledge employee to work hard for improving corporation performance and value. At present, compensation motivation of innovative enterprises is mainly to management layer, the compensation incentive of knowledge employee is relatively few. Short-term compensation motivation takes dominant position in innovative enterprises, but the implementation of comprehensive compensation motivation of innovative enterprises is to a lesser extent. Management is the key decision makers of enterprises, and knowledge employee plays a core function in companies. Whether compensation motivation of innovative enterprises is efficient and how it is effectiveness directly affects management and knowledge employee to work hard for companies.Combined with the related research on the validity of compensation motivation at home and abroad, took innovation theory, motivation-hygiene theory, principal-agent theory, human capital theory, equity theory as a theoretical support, took innovative enterprises of listed companies as the research sample, and the highest amount of the average of top three management total compensation, the average of knowledge employee compensation as an entry point, the thesis in-depth analyzes the current situation of the validity of compensation motivation of innovative enterprises.Proper choices of compensation motivation variable-the average of the top three management total compensation, the average of knowledge employee compensation, enterprise performance variables-ROE, EPS, Tobin's Q, and control variable-scale, asset-liability ratio, uses the multiple linear regression analysis model, positive analyzes the issue of the validity of compensation motivation of innovative enterprises, the research found:the implementation of the validity of comprehensive compensation motivation of innovative enterprises is greater than the only implementation of the validity of short-term compensation motivation.Research on the validity of compensation motivation of innovative enterprises contributes to improving the current adverse situation in compensation motivation, increase motivation of management and knowledge employee, in order to improve performance of innovative enterprises, and abound the corporation governance and compensation motivation theory.According to positive analysis results, combined with theoretical analysis, put forward the proposal of improving the validity of compensation motivation of innovative enterprises in order to promote enterprises sustainable development:rationally adjusts the term structure of compensation motivation, intensifies compensation motivation of knowledge employee, perfects the governance structure and builds a stable and efficient capital market.