Research On The Relationship Among Rxecutive Incentive,government R&d Input And Innovation Performance-based On The "Unicorn" Listed Company

As the regulators clearly stated that they hope to keep the innovative potential technology listed companies in the domestic development,Unicorn is being sought after by various capitals,and the national welfare preferential policies have begun to tilt toward this type of enterprises.The world economy has changed.Rapidly,the degree of integration between technology and economy is getting higher and higher.Today's "Unicorn" may be the giant of the future industry.It is a mirror that refracts the regional economy,an angle to interpret the economic frontier,and an observation of the flow of capital hot money.A window,the main body of such enterprises is the emerging technology industry,innovation is the theme of the development of the world today,to be innovative,first of all to strengthen their own scientific and technological capabilities,and increase investment in R&D is the key to the realization of such enterprises innovation and development.At the same time,senior executives are the key leaders who always grasp the direction of enterprises and play a decisive role in the decision-making of enterprises.Executives of China's "Unicorn" must realize that the core of development is independent innovation.Based on this policy and economic background,we will study the relationship among executives,governments,and innovations in China' s emerging "Unicorn" listed companies,and make corresponding recommendations on the future direction of China' s new economy,especially It has practical significance and research value.This article uses unicorn enterprises as research objects,and discusses the impact of executive incentives and government subsidies on corporate innovation performance based on principal-agent and market failure theories.It discusses the future development of corporate governance and innovative science and technology policy reform in China and builds relevant The model then puts forward hypotheses and conducts correlation analysis,regression analysis,and robustness test respectively.After screening and analysis of representative industries in 2013-2016 Unicorn,224 electronics companies,203 computers,54 internets,and 142 biomedical industries were obtained.A total of 623 A-share listed companies are effective.The data was analyzed using SPSS software and the results were analyzed.The results were verified by robustness tests to verify the hypotheses proposed in this paper.The study finds that in the "Unicorn" listed companies,salary incentives,equity incentives and innovation performance are significantly positively correlated,and there is a significant positive correlation between government investment in science and innovation performance;analysis of the role of the intermediary results in research and development investment in government technology.The relationship between input and innovation performance will have an impact on the relationship between executive incentives and innovation performance.This conclusion is the same as that obtained by Guan Yongjun and others,and believes that government investment in science and technology will be funded through R&D expenditures.The impact on innovation performance shows that the hypotheses and test results presented in this paper are consistent and in line with expectations.The final robustness analysis also proves that the regression results are significant and prove that the results are authentic.