Executive salary stickiness, institutional investors and innovation investment -- Based on the empirical data of listed companies

Abstract

This paper takes China’s A-share listed companies from 2015 to 2019 as the research object, and empirically tests the impact of executive compensation stickiness on enterprise innovation investment. It is found that executive compensation stickiness is positively correlated with the innovation investment of corporate and it is more significant in private enterprises. In addition, Institutional investors participate in corporate governance to play a positive governance effect, and strengthen the positive correlation between the stickiness of executive compensation and corporate innovation investment.