Research On The Influence Executive Incentives On The High-quality Development Of Enterprises

High-quality development is the theme of social and economic development in the "Fourteenth Five-Year Plan" and even longer.The 20 th National Congress of the Communist Party of China proposes that high-quality development is the primary task of comprehensively building a socialist modern country.As a micro foundation for economic development,achieving high-quality economic development ultimately requires high-quality development of enterprises to supply energy.Executives incentive this important company internal governance methods,which can alleviate the interest conflict between shareholders and executives,improve the efficiency of the company’s governance,and then enhance the improvement of the total factor productivity,and promote the high-quality development of the enterprise.Based on this,this paper tries to explore the direct effects of executives’ incentives on the high-quality development of enterprises,innovative investment and organizational slack play indirect effects in the relationship between the two.By combing the relevant literature of executive salary incentives,equity incentives,and high-quality development of enterprises,combine the entrusted agency theory,incentive theory and human capital theory,in-depth analysis of the mechanism of high-quality development of executives incentives,Use the data of A-share listed companies from 2010 to2021 for empirical inspection.Studies have found that both executive salary incentives and equity incentives have a significant positive impact on the high-quality development of enterprises;innovative investment has a significant intermediary effect in the relationship between executives and enterprises;The organizational slack will strengthen the positive impact of salary incentives on the high-quality development of enterprises,and weaken the promotion role of equity incentives;the above conclusions are still established after replacing the high-quality development method of enterprises.Further analysis found that hidden executives’ on-the-job consumption will also promote the high-quality development of enterprises;compared with non-state-owned enterprises,the equity incentives of state-owned enterprises have better incentives for executives,and the impact of salary incentives on the high-quality development of non-state-owned enterprises is more significant.Based on the research conclusion,relevant suggestions are put forward to maximize the advantages of executives to the maximum extent to promote the high-quality development of enterprises.