内外双重视角下高管薪酬差距对企业创新绩效的影响--基于高管团队稳定性的中介效应  

Influence of the Executive Pay Pap on Innovation Performance of Companies from Internal and External Perspective--Mediating Effect based on the Stability of Leadership Team

作　　者：苏海泉[1] 张静雨 Su Haiquan;Zhang Jingyu(College of Business Management,Liaoning Technical University,Huludao Liaoning 125105)

机构地区：[1]辽宁工程技术大学工商管理学院,辽宁葫芦岛125105

出　　处：《沈阳师范大学学报（社会科学版）》2024年第3期79-88,共10页Journal of Shenyang Normal University(Social Science Edition)

基　　金：辽宁省教育厅人文社会科学研究项目(JYTMS20230825)。

摘　　要：基于2010—2021年A股上市公司数据,以高管团队稳定性为切入点,构建固定面板回归模型,实证分析高管薪酬差距对企业创新绩效的影响,并检验了高管团队稳定性的中介效应。研究结果表明:高管内部薪酬差距与企业创新绩效存在显著的倒U型影响关系;高管外部薪酬差距对企业创新绩效具有显著正向影响;高管团队稳定性在高管薪酬差距与企业创新绩效之间存在中介效应。异质性分析发现,高管内部薪酬差距在非国有企业、非高新技术企业和非重污染企业中对企业创新绩效具有显著倒U型影响关系,在国有企业、高新技术企业和重污染企业中则不显著。研究结论丰富了高管薪酬差距对企业创新绩效影响的相关研究,对如何加强高管团队稳定性进而提高企业创新能力提供重要的理论指导和决策参考。This study uses the data of A-share listed companies from 2010 to 2021 as a sample,takes the stability of the leadership team as the entry point,and builds a fixed panel regression model to empirically analyze the impact of the executive pay gap on the innovation performance of companies and tests the mediating effect of leadership team stability.The results show that there is a significant inverted U-shaped relationship between the internal pay gap of executives and the company's innovation performance.The external pay gap of executives has significant positive effects on innovation performance.There is a mediating effect between the executive pay gap and the company's innovation performance.The heterogeneity analysis shows that the internal wage gap of top executives in non-state-owned enterprises,non-high-tech enterprises and enterprises that do not cause large-scale environment pollution has a significant inverted U-shaped relationship with enterprise innovation performance,but no significant influence on the innovation performance of companies has state-owned companies,high-tech enterprises and heavily polluting companies.The conclusions of this study enrich the relevant research on the impact of executive pay gap on enterprise innovation performance and provide important theoretical guidelines and decision-making bases for strengthening the stability of the management team and improving enterprise innovation capability.

关 键 词：高管薪酬差距 创新绩效 团队稳定性 

分 类 号：F272[经济管理—企业管理]