Abstract：Taking China's 571 listed companies as the sample, this paper studies the impact of the contract design of CEO's compensation on the CEO's R& D investment activities, the relationship between CEO's R& D investment activities and corporation value creation. The results show: In state-controlled enterprises, R& D investment has not been included in CEOs' evaluation and their year salary, the increasing of CEOs annual salary results in their activities of reducing R& D investment; In private-owned enterprises, R& D Investment has been included in CEOs' evaluation and their year salary; The increasing of CEOs' annual salary has incentive to improve R& D investment
刘振. CEO薪酬契约设计、研发投资行为与公司价值创造[J]. 中国科技论坛, 2014(5): 143-148.
Liu Zhen. The Relationship of Contract Design of CEO's Compensation,R&D Investment and Corporation Value Creation. , 2014(5): 143-148.
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