| The Chinese government has introduced policies to increase investment in information technologies such as 5G,home-grown chips and cloud computing amid a trade dispute with the US.Gave themselves to encourage executives but tangible executives don't have the ability to take into consideration of the interests,unable to effectively combine in some companies,and executives from analysis analysis in software and it services for a long time,the plan will greatly support R&D,and could lead to the value of the company increased dramatically because of the focus more on research and development.Based on the specific industry,this paper studies the relationship between the above three,that is,how the R&D influences the incentive of senior executives,and then the enterprise value.In the process of influence,which kind of executive incentive influences the R&D is also one of the issues to be discussed in depth in this paper.In order to study this problem,this paper starts from the mediation effect,and establishes the mediation effect test model respectively for executive ownership incentive and executive in-service consumption,which have significant influence on enterprise value in multiple linear regression.Since the process of mediating effect must contain relevant content of linear regression,this paper firstly analyzes the mediating effect through linear regression,and then tests the mediating effect.Through the above series of tests,this paper finds that R&D does play a role of bridge and link between executive motivation and enterprise value,and it also plays a partial intermediary role.By changing the explained variable to the price/sales ratio,the findings are consistent with the results of previous empirical studies.Carefully read and analyze the empirical research and,based on the strengthening of operations and R&D,make relevant suggestions to improve the effective value of service software companies. |
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