股权激励差异对企业创新影响的文献回顾

A Literature Review on the Impact of Equity Incentive Differences on Corporate Innovation

摘要: 在全球经济格局深刻变革的当下，企业创新已成为经济发展和国际竞争的核心驱动力。由于企业创新的风险高、投入大、收益不确定性，因而上市公司的高管为自身利益而规避创新活动的现象屡见不鲜。因此，如何优化股权激励契约的设计来激励高管、员工进行企业创新已成为学术界和实务界所关注的热点问题。鉴于此，本文对于股权激励差异对企业创新影响的主要文献进行了梳理，对今后的研究提出展望，期待为该领域的未来研究提供参考。

Abstract: In the current era of profound changes in the global economic landscape, corporate innovation has become the core driving force for economic development and international competition. Due to the high risks, substantial investments, and uncertain returns associated with corporate innovation, it is not uncommon for executives of listed companies to avoid innovation activities for their own self-interest. Therefore, how to optimize the design of equity incentive contracts to motivate executives and employees to engage in corporate innovation has emerged as a hot topic, attracting extensive attention from both the academic and practical communities. In view of this, this paper reviews the main literature on the impact of differences in equity incentives on corporate innovation, puts forward prospects for future research, and hopes to provide references for future studies in this field.