Empirical Study of the Relations between Executive Compensation Gap and R&D Investment in Pharmaceutical Manufacturing Enterprises

• 作者: Hu Liuyan Liu Nanping Xing Hua
• 来源期刊: 亚洲社会药学
• 学科: 医学
• 关键词: EXECUTIVE compensation GAP R&D input PHARMACEUTICAL manufacturing COMPANY
• 年，卷（期）: 2019,（3）
• 页码范围: 119-125
• 页数: 7页
• 分类号: R

摘要

Objective To study the correlation between executive compensation gap and R&D investment of pharmaceutical manufacturing enterprises in China by taking 53 pharmaceutical manufacturing companies in Shanghai and Shenzhen stock exchanges from 2015 to 2017 as research samples. Methods Multiple linear regression methods was used to study the relationship and influence between executive compensation gap and R&D investment in pharmaceutical manufacturing industry based on championship theory and principal-agent theory. Results and Conclusion There is a significant positive correlation between executive compensation gap in pharmaceutical manufacturing industry and enterprise R&D investment. Listed pharmaceutical manufacturing enterprises should design reasonable salary gap between senior executives and carry out reasonable research and development activities to promote the sustainable development of pharmaceutical manufacturing enterprises. This study provides theoretical basis for optimizing executive compensation gap and increasing R&D investment in pharmaceutical manufacturing industry.