Management Incentive And Innovation Performance

The 2017 report on the development of mass entrepreneurship and innovation in China(referred to as the white paper)pointed out that China's innovation and entrepreneurship is moving towards high-quality development,with enterprises becoming more dynamic,better structured and more competitive.But at the same time,Chinese enterprises have not really become the main body of national technological innovation,lack of innovation mechanism,lack of innovation motivation.In particular,China's manufacturing enterprises are faced with the major task of enterprise transformation,so it is more necessary to carry out technological innovation to improve the core competitiveness of enterprises,and then promote enterprise transformation.The management is the executor of various strategies of the enterprise,and the management incentive plays a key role in improving corporate governance and improving corporate benefits.In view of the deficiency of innovation in the strategic transformation of enterprises,it is particularly important to discuss the relationship between management incentive and innovation performance.Existing studies have shown that both R&D investment intensity and management heterogeneity will affect the innovation performance of enterprises.Obviously,it is of certain theoretical and practical significance to further investigate the impact of R&D investment intensity and management heterogeneity on the relationship between management incentives and innovation performance.Taking 2231 listed manufacturing companies from 2013 to 2017 as the research object,this paper mainly studies the effect of management incentive on innovation performance,analyzes the mediating effect of R&D investment under this path,and explores the mechanism of management incentive on innovation performance.Furthermore,this paper introduces management heterogeneity to analyze the moderating effect of management education level and overseas experience on the relationship between management incentives and innovation performance.The empirical results of this paper show that :(1)management incentive positively affects innovation performance.(2)R&D investment plays a part of the mediating role in the influence of management incentives on innovation performance.Management incentives weaken enterprises' risk aversion behavior and promote enterprises to increase their R&D investment,thus improving their innovation results.(3)management heterogeneity has a significant impact on the relationship between management incentives and innovation performance.The educational level of management can enhance the promotion effect of management incentives on innovation performance,and the overseas learning experience of management can enhance the promotion effect of management incentives on innovation performance.The above conclusions are of certain significance:(1)incorporating management incentive into the research framework of influencing factors of enterprise innovation performance,which enriches the research on management incentive and innovation performance;(2)taking R&D investment as the mediating variable between management incentives and innovation performance,it is helpful for enterprises to deal with specific problems in improving innovation performance;(3)starting from the heterogeneity of management,the relationship between management incentive and innovation performance is investigated again,which has certain enlightenment for the management incentive system.This paper provides guidance and reference for manufacturing enterprises to optimize management incentive system,improve enterprise innovation performance and improve corporate governance structure.