股权激励、研发支出与企业价值研究——基于不同区域研究

Research on Equity Incentive, R&D Expenditure and Enterprise Value—Based on Different Regional Research

本文利用我国2008至2016年沪深A股上市公司数据,实证检验股权激励、研发支出与企业价值研究。研究发现,管理层股权激励、研发支出对企业价值具有显著正向提升作用。本文进一步从不同区域的角度探讨股权激励、研发支出对企业价值的影响。发现股权激励对企业研发支出具有正向影响但是在不同区域间还是存在区别的。

Using the data of A-share listed companies in Shanghai and Shenzhen from 2008 to 2016, this paper empirically tests the research on equity incentives, R&D expenditures and enterprise value. The study found that management equity incentives and R&D expenditures have a significant positive effect on corporate value. This paper further explores the impact of equity incentives and R&D expenditures on enterprise value from the perspective of different regions. It is found that equity incentives have a positive impact on corporate R&D expenditures, but there are differences in different regions.