高管薪酬差距对企业研发强度的影响——基于锦标赛理论的视角被引量：43

Influence of Executive Pay Gap on Corporate R&D Intensity——Based on the Perspective of Tournament Theory

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摘要以中小企业板和创业板中509家制造业企业为样本,基于锦标赛理论,利用多元线性回归模型研究了第t-1期高管薪酬差距对第t期企业研发强度的影响,并用层次回归方法研究了董事长和总经理是否两职合一、非CEO高管人数、距离下一次CEO变更的时间等变量的调节作用。结果表明,高管薪酬差距和企业研发强度显著负相关;董事长和总经理两职合一、非CEO高管人数增加会强化上述负相关关系;距离下一次CEO变更的时间会削弱上述负相关关系。 509 small and medium-sized manufacturing enterprises are chosen as samples from SME and GEM Boards ,based on tournament theory , this paper using multiple linear regression model to study the influence of executive pay gap （ t-1） on corporate R＆ D intensity （ t） .Besides, using hierarchical regression analysis method to study the moderating effect of whether the chairman and the CEO being one person , the number of non-CEO executives and the time until next CEO elec-tion.The results show that , the executive pay gap has a significant negative correlation with the R ＆ D intensity of enterpri -ses.The chairman and the CEO being one person enhance the relationship above , so does more non-CEO executives .Howev-er, the time until next CEO election will weaken this relationship .

作者吕巍张书恺

机构地区上海交通大学安泰经济与管理学院

出处《软科学》 CSSCI 北大核心 2015年第1期1-5,10,共6页 Soft Science

基金国家自然科学基金项目(71372411)

关键词高管薪酬差距企业研发强度锦标赛理论 executive pay gap corporate R＆D intensity tournament theory

分类号 F272 [经济管理—企业管理]

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