软件与信息技术行业研发投入对高管薪酬业绩敏感性的实证研究——以股权集中度为调节变量  

An Empirical Study on R&D Investment and Sensitivity to Executive Compensation Performance in Software and Information Technology Industry--Based on the Regulating Role of Ownership Concentration

作　　者：刘云[1] 周石鹏[1] LIU Yun;ZHOU Shi-peng(University of Shanghai for Science&Tecnology,Business School,Shanghai 200093,China)

机构地区：[1]上海理工大学管理学院,上海200093

出　　处：《经济研究导刊》2021年第4期100-103,107,共5页Economic Research Guide

摘　　要：高管薪酬业绩敏感性是薪酬和业绩的结合,是企业管理的重要研究课题。探究股权集中度对研发投入与高管薪酬业绩敏感性之间关系的作用也因此具有了必要性。以软件与信息技术行业的上市公司为样本,选取2015—2019年的相关数据,采用描述性统计、多重共线性检验、回归分析等多种统计方法,实证分析股权集中度、研发投入与高管薪酬业绩敏感性之间的关系。研究结果显示,研发投入与高管薪酬业绩敏感性正相关,股权集中度对研发投入与高管薪酬业绩敏感性之间的关系呈正向调节作用。创新之处在于研发投入与高管薪酬业绩敏感性的关系中加入了调节变量股权集中度,并且主要针对软件与信息技术行业进行研究。研究结论为软件与信息技术行业如何处理股权集中度、研发投入与高管薪酬业绩敏感性三者之间的关系提供了理论基础和合理建议。Executive compensation and performance sensitivity is the combination of compensation and performance and is an important research topic in enterprise management.Therefore,it is necessary to explore the role of equity concentration on the relationship between R&D investment and executive compensation and performance sensitivity.This paper takes listed companies in the software and information technology industry as samples,selects relevant data from 2015 to 2019,adopts descriptive statistics,multicollinearity test,regression analysis and other statistical methods,and empirically analyzes the relationship between equity concentration,R&D investment and executive compensation and performance sensitivity.The results show that R&D investment is positively correlated with executive compensation and performance sensitivity,and equity concentration has a positive regulating effect on the relationship between R&D investment and executive compensation and performance sensitivity.The innovation lies in that the moderating variable equity concentration is added to the relationship between R&D investment and executive compensation and performance sensitivity,and the research is mainly conducted on the software and information technology industry.The research results provide theoretical basis and reasonable suggestions for the software and information technology industry to deal with the relationship between equity concentration,R&D investment and executive compensation and performance sensitivity.

关 键 词：高管薪酬业绩敏感性 股权集中度 研发投入 软件与信息技术行业 

分 类 号：F273.1[经济管理—企业管理]