内部薪酬差距对企业创新投入的影响研究--基于产权性质和宏观环境异质性视角的检验

Influential Research of Internal Compensation Gap on the Company’s Innovation Investment--Based on Nature of Property Right and Macro Environment Heterogeneity

本文以2010~2019年沪深两市上市公司为样本,基于社会公平理论考察企业内部高管员工薪酬差距对创新投入的影响。运用研发投入占比衡量企业创新,研究发现:薪酬差距与企业创新投入负相关,上述结论在稳健性检验和内生性分析后仍然成立;进一步研究发现,在国有企业中和在失业率较高地区的企业中,薪酬差距对创新投入的负向影响会增强;在我国东部地区的企业中,薪酬差距对创新投入的负向影响会减弱。研究结论为不同地区、不同产权性质的企业薪酬体系设计和创新决策提供了实证参考依据。

The article uses 2010-2019 listed companies in Shanghai and Shenzhen as samples,and examines the impact of executive compensation gaps on corporate innovation performance based on social equity theory.Using R&D investment to measure innovation performance,the study finds that:the compensation gap is negatively correlated with corporate innovation input.The a⁃bove conclusions are still established after the robustness test and endogenous analysis.Further research finds that;in state-owned enterprises and in areas with high unemployment rates,the negative impact of corporate executive compensation gaps on innovation input will be enhanced.In the eastern part of my country,the negative impact of the compensation gap on innovation input will be reduced.The conclusion of the study provides empirical reference for the design of enterprise compensation systems and innovative decision-making in different regions and with different property rights.