高管薪酬激励、创业战略导向与创业型企业成长性关系研究

本文基于2012～2014年创业板上市公司的非平衡面板数据，研究了高管薪酬激励与创业型企业成长性之间的关系，探讨了创业战略导向作为企业内部的增长战略倾向对上述关系的调节作用。研究结果表明：高管货币薪酬、权益薪酬、薪酬差距与创业型企业成长显著正相关；创业战略导向会负向调节高管货币薪酬与创业型企业成长性之间的关系、正向调节权益薪酬与创业型企业成长性之间的关系，而对薪酬差距与创业型企业成长之间关系的调节作用未得到验证。

Study on the Relationships among Executive Compensation Incentive and Entrepreneurial Strategic Orientation and Entrepreneurial Enterprise Growth

Based on the unbalanced panel data of GEM listed companies from 2012 to 2014,the rel ationship between executive compensation incentive and the growth of entrepreneu rial firms was studied,and the relationship between entrepreneurial strategy ori entation and intra-firm growth strategy inclination was discussed.The results sh owed that there is positive correlation of executive monetary compensation,equit y compensation,pay gap and entrepreneurial growth;entrepreneurial strategy orien tation negatively moderates the relationships between monetary compensation and entrepreneurial growth,as opposed to as it were equity compensation,and moderati ng effect on the relationship between pay gap with the growth of entrepreneurial enterprises has not been verified.