Research On The Influence Of Internal Pay Gap Of Executives In High-tech Enterprises On Enterprise Performance

High-tech enterprises occupy the main force in improving national competitiveness,and occupy an important strategic position in China’s economic development.Not only that,governments at all levels attach great importance to it as the important foundation of high-tech industry.However,from the overall situation of the world,China’s high-tech enterprises are still in the stage of rapid development,and the overall level of innovation is not high.The trade friction between China and the United States in early 2018 has curbed the development of China’s high-tech enterprises.For example,restrictions and sanctions on ZTE and Huawei have directly affected the normal operation of enterprises.For various results,high-tech enterprises should pay more attention to the importance of talents and technology.If enterprises want to develop stably,they should take the initiative to attack,not rely too much on others,actively change and innovate independently.However,even if the government puts forward innovation policies and supports them,innovation is risky,but for enterprise managers,they are unwilling to propose and support risky projects,and they are more inclined to security for investment and make high-quality decisions in order to make them consistent with the goals of the enterprise.With the continuous development of economy and society,the incentive of executive compensation given by enterprises in the competition for talents is reflected not only in the increase of salary,but also in the increase of the pay gap between senior executives.The enterprise takes a series of measures to achieve better development and achieve higher performance.So,will the existence of the pay gap affect enterprise performance,and what is the impact? Different scholars have given different conclusions.As the decision-maker of the enterprise,is the decision-making of investment in enterprise innovation in order to break through technology affected by the salary gap? Will the above relationship lead to different results due to the heterogeneity of innovation investment? These need to be discussed.In view of this,this paper selects the empirical data of domestic A-share listed high-tech enterprises from 2011 to 2020,and uses the method of stepwise regression to analyze the relationship between the internal pay gap of senior executives and corporate performance.and explore whether innovation investment and different forms of innovation investment play an intermediary effect.First of all,it describes the research background and significance,combs the relevant literature at home and abroad,the literature review is divided into three aspects: the first is the executive internal pay gap and corporate performance;the second is the executive internal pay gap and innovation investment;the third is innovation investment and corporate performance.At the same time,it points out the research methods of this paper,and puts forward the ideas,content and innovation of this paper on the existing literature.Secondly,by reading the relevant literature,define the concept and explain the theory.Then,we build a model and use the relevant data of high-tech enterprises listed in Shanghai and Shenzhen to make an empirical analysis of the relationship among senior executives’ internal pay gap,innovation investment and corporate performance.and further study the role of different forms of innovation investment based on dual innovation,according to the empirical results and the current development of high-tech enterprises in China,put forward relevant suggestions to provide reference for the development of high-tech enterprises.Finally,the test results are summarized to point out the shortcomings of the research.The results show that:(1)there is a positive correlation between executive internal pay gap and corporate performance;(2)there is a positive correlation between executive internal pay gap and innovation investment;(3)there is a positive relationship between executive internal pay gap and exploratory innovation;(4)there is a positive correlation between executive internal pay gap and development innovation;(5)exploratory innovation is positively correlated with corporate performance.(6)the positive effect of development innovation on corporate performance is not obvious;(7)the impact of executive internal pay gap on corporate performance through the path of innovation,innovation plays an intermediary effect;(8)exploratory innovation shows a partial intermediary effect in the impact of executive internal pay gap on corporate performance.(9)Development innovation shows a partial intermediary effect in the impact of executive internal pay gap on corporate performance.