Abstract：The executive reward and the government regulation are the internal and external motivation driving factors of the R&D investment of China’s aviation equipment manufacturing enterprises.This paper researches the direct and interaction relationship between the executive reward and the government regulation by using multiple regression analysis model with the samples from Chinese A-share listed China’s aviation equipment manufacturing enterprises.Research results suggest that:The executive equity compensation,the executive salary compensation and the tax return have strong positive effect on the R&D investment;The government subsidies also have positive effect on the R&D investment,but not significant;The interaction relationships on between the executive equity compensation and salary compensation，between the government subsidies and the tax return affecting the R&D investment are significantly positive relationship.
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