Enterprise Life Cycle,Internal Pay Gap And Innovation

Since the 18th national congress of the communist party of China(CPC),the innovation-driven development strategy has been promoted in an efficient and orderly manner,the R&D input and output of enterprises have been continuously improved.However,the level of independent innovation of China’s enterprises still lags behind that of developed countries,and the progress of innovation quality is slower than that of quantity.At this time,structural upgrading and kinetic energy conversion are still on the way,so it is necessary to enhance the innovation capacity of enterprises and promote innovation activities.Moderate internal pay gap is conducive to creating a good "championship"environment within the enterprise,encouraging ordinary employees and management to encourage work and stimulate innovation output,while excessive pay gap will cause employees to have a sense of injustice,negative emotions and negative behaviors.In this paper,based on the "tournament" theory and behavior theory,carries on the literature review,the pay gap between innovation output,the relationship between corporate life cycle and degree of internal control regulation and the heterogeneity between the different nature of the industry such as the four main assumptions,trying to "tournament" environment construction Angle,to explore the incentive compensation gap microscopic mechanism of enterprise innovation.Based on the 2009-2017 A-share listed companies as the research object,select the number of an application for A patent for invention,employee compensation,internal data such as control index,measure the different stages of enterprise life cycle,and then set up A corresponding model and regulation model,the basis of the empirical test using bidirectional fixed effects model,moreover,according to the enterprise heterogeneity grouping test,at last,by changing the way such as variables,adjust lag ensure the robustness of model establishment and the theoretical assumptions.According to the research,as a whole,the internal pay gap is positively correlated with the innovation output,which supports the "tournament theory",modest pay gap can improve the manager’s confidence and self-acceptance,as internal promotion "tournament" "bonus",the pay gap motivates staff encourage work,improves the level of innovation.The enterprise lifecycle can play a role in the implementation effect of internal "tournament".Due to different operating and governance characteristics in different stages,enterprises in the mature stage have high innovation demand and research and development efficiency.At the same time,the level of corporate governance,the standardization and transparency of organization and system are higher,and the incentive effect of salary gap is stronger.By reducing the risk of innovation investment,information asymmetry and inhibiting agency problems,the internal control of enterprises can unblock the incentive channels of internal pay gap and enhance the incentive effect The above results show heterogeneity in different types of enterprises.The incentive effect and life-cycle adjustment effect of salary gap are stronger in technology-intensive enterprises,while labor-intensive enterprises have little need for innovation,and the incentive to senior executives does not affect innovation activities.This paper provides Suggestions for the micro-implementation of innovation-driven strategy in enterprises:the creation of internal innovation environment needs a reasonable competitive environment and incentive system,and multiple measures should be taken simultaneously.Reasonable incentive schemes should be combined with internal and external supervision,and attention should be paid to the combination of incentives and the maintenance of the sense of equity.Multi-subject participation is required,and the policy subject should introduce flexible supervision schemes for innnovation projects according to the heterogeneous characteristics of enterprises.The main body of the enterprise should raise the consciousness of innovation,pay attention to the cultivation of innovative management talents,play the role of internal and external supervision of internal control,and create an innovative environment.