高管薪酬业绩敏感性、公司治理水平与双元创新  

Executive Pay-performance Sensitivity,Corporate Governance and Ambidextrous Innovation

作　　者：郭令秀[1] 吕茜 GUO Lingxiu;LÜ Qian(College of Economics and Management,Shandong University of Science and Technology,Qingdao 266590,Shandong,China)

机构地区：[1]山东科技大学经济管理学院,山东青岛266590

出　　处：《中国石油大学学报（社会科学版）》2024年第4期96-103,共8页Journal of China University of Petroleum (Edition of Social Sciences)

基　　金：国家社会科学基金项目(17BGL037)。

摘　　要：双元创新是企业顺应市场变化、获取竞争优势的关键,探究如何推动企业进行双元创新、如何平衡探索式创新与利用式创新决策,对企业可持续发展至关重要。以2012—2021年沪深A股上市公司为研究对象,探讨高管薪酬业绩敏感性对双元创新的影响以及公司治理水平在二者关系中的调节作用。研究发现:高管薪酬业绩敏感性对企业利用式创新和探索式创新具有促进作用,且对探索式创新的促进作用更明显。进一步研究发现:公司治理水平能够显著提升高管薪酬业绩敏感性对探索式创新的促进作用,但对高管薪酬业绩敏感性与利用式创新之间关系的影响并不显著。据此,提出企业应设计合理的薪酬方案、提升公司治理水平、加大双元创新投入等建议。Ambidextrous innovation is the key for enterprises to adapt to market changes and gain competitive advantages.Exploring how to promote ambidextrous innovation and how to balance exploratory innovation and exploitative innovation decision-making is of great importance to the sustainable development of enterprises.Taking Shanghai and Shenzhen A-share listed companies from 2012 to 2021 as the research object,this paper explores the influence of executive pay-performance sensitivity on ambidextrous innovation and the moderating effect of corporate governance on the relationship between the two.The results show that executive pay-performance sensitivity can promote exploitative innovation and exploratory innovation,and the promotion effect of exploratory innovation is more obvious.Further research shows that corporate governance can significantly enhance the promotion effect of executive pay-performance sensitivity on exploratory innovation,but has no significant impact on the relationship between executive pay-performance sensitivity and exploitative innovation.Therefore,it is suggested that enterprises should design reasonable compensation solutions,improve corporate governance,and increase the investment in ambidextrous innovation.

关 键 词：双元创新 高管薪酬业绩敏感性 公司治理水平 

分 类 号：F272.92[经济管理—企业管理] F273.1[经济管理—国民经济]