Private Equity Investment, Executive Motivation and Corporate Research and Development
- DOI
- 10.2991/assehr.k.201023.084How to use a DOI?
- Keywords
- Private Equity Investment, Executive Motivation, Corporate Research and Development, Regulatory Role, Brake Effect
- Abstract
By studying the data of companies listed on gem from 2009 to 2019, this paper empirically tested the relationship between private equity investment, executive incentive and enterprise R&D using regression analysis method. The results show that: executive compensation incentive and executive equity incentive are significantly positively correlated with enterprise R&D. Private equity investment has no significant regulating effect on the relationship between executive compensation incentive and enterprise R&D. However, private equity investment has a significant negative regulating effect on the relationship between executive equity incentive and enterprise R&D. On this basis, the robustness test was carried out, and the variable private equity investment was replaced by the shareholding ratio of private equity investment, and the results showed no influence. The results of this paper provide empirical evidence for improving the governance structure of listed companies in China, improving the efficiency of enterprise R&D investment, and promoting the improvement of China’s innovation ability.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Xinsheng DUAN AU - Xue LI PY - 2020 DA - 2020/11/06 TI - Private Equity Investment, Executive Motivation and Corporate Research and Development BT - Proceedings of the 2020 5th International Conference on Modern Management and Education Technology (MMET 2020) PB - Atlantis Press SP - 413 EP - 421 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.201023.084 DO - 10.2991/assehr.k.201023.084 ID - DUAN2020 ER -