Industry salary gap incentive and enterprise innovation |
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| Affiliation: | 1. School of economics and management, Wuhan University, No.299 Bayi Rd, Wuchang district, Wuhan 430061, PR China;2. School of Management, Xiamen University, No. 422 Siming South Road, Xiamen, Fujian 361005, PR China;3. School of Economics and Management, Nanjing Agricultural University, No.1 Weigang Road, Nanjing 210095, PR China;4. Jin Shanbao Institute for Agricultural & Rural Development, Nanjing Agricultural University, No.1 Weigang Road, Nanjing 210095, PR China |
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| Abstract: | The impact of an industry salary gap on corporate innovation is a topic that has attracted great interest. To enrich and expand research on this topic, this research aims to measure this impact from the perspective of the governance effect. The results show that a salary gap across industries significantly drives enterprise innovation at firms with higher agency costs. According to this result, reducing agency costs is the potential mechanism that drives this effect. In this way, this salary gap can drive enterprise innovation. Also, the results provide further evidence that the industry salary gap drives enterprise innovation. In addition, the driving effect of the industry salary gap on enterprise innovation is more significant in industries experiencing a recession and in enterprises with higher financial issues. |
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| Keywords: | Enterprise innovation High-quality development Industry salary gap |
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